As you have no doubt already heard, Station Casinos received an $82 per share offer from Fertitta Colony Partners LLC last week. The buyer is a partnership between company Chairman and CEO Frank Fertitta III, Vice Chairman and President Lorenzo Fertitta, and the Los Angeles-based private equity firm Colony Capital. The company's four independent directors have formed a special committee to consider the offer.
Like everyone else, we are waiting for further announcements from the company regarding the $4.7 billion bid. Meanwhile, Drop, Handle & Hold will be taking a holiday break. We wish our readers a safe and happy holiday season. Check back with us in January for more news on the latest developments in the Las Vegas locals market.