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What Happens If Coast Takes Over Stations?

#1

In case you didn't know it, Coast has made an offer to Stations to
take over all their casinos for $950 million. That's just a little
more than the Fertitta group paid to take the company private. But
that was at the height of the stock market and obviously prices have
fallen steeply since that point in time.

But if this actually happens, it would seem to me that the locals, as
well as others, will be totally screwed. It would be similar to what
happened when Harrah's and MGM started taking over everyone.

The only competition in the locals market would be Arizona Charlies, 2
casinos, and the Cannery Group, 3 casinos. Gone will be the days of
any 6X points or maybe promotions of any kind. Well I guess they
couldn't do away will all promotions, but don't expect a newsletter
every month. Giving away gifts like plates and toasters would be the
first thing to go.

I don't think they could lower the pay tables any lower without the
public putting up a stink, but without competition, who could stop them.

#2

The $950 million offer by Boyd included "only" the Santa Fe, Texas,
GVR, Aliante and the Fiestas. That's quite a lot, but it did NOT
include Red Rock (important) or Boulder, Sunset and Palace Stations. I
consider RR to be a premier property for locals, even visitors, and I
think Station would still present significant competition with even
just that one property to offer, let alone the other three.

It's interesting to note that Stations spent $600-something million on
Aliante, and this offer is for only $950 mil., and includes BOTH
Aliante and GVR, in addition to other properties. Even in this
economic climate, it sounds like a low bid to me.

#3

Right, an important distinction, and I am so glad they'll keep RR if they accept this offer.
Stations would also retain the 350+ acres of undeveloped land around the valley, should they
get it together enough to build in the future. Would be disappointed, though, as the nearest
casino to me would become a Boyd property, but we'll see. As maxbet5 said, it's a a real
lowball offer.

Bettie

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--- In vpFREE@yahoogroups.com, "maxbet5" <maxbet5@...> wrote:

The $950 million offer by Boyd included "only" the Santa Fe, Texas,
GVR, Aliante and the Fiestas. That's quite a lot, but it did NOT
include Red Rock (important) or Boulder, Sunset and Palace Stations.

#4

It is certainly a bid that would not have happened a
few months ago. Now the Frank & co. are about to go
under they may have no choice though.

Greed. An amazing human emotion......

I looked up the term in the old fashioned dictionary,
all it said was something to the effect of "See: HET/Stations"

···

--- maxbet5 <maxbet5@yahoo.com> wrote:

It's interesting to note that Stations spent
$600-something million on
Aliante, and this offer is for only $950 mil., and
includes BOTH
Aliante and GVR, in addition to other properties.
Even in this
economic climate, it sounds like a low bid to me.
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