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Station Seeks Protection for its Share of GV Ranch | Gaming News

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Station Seeks Protection for its Share of GV Ranch
Gaming News

LAS VEGAS -- Station Casinos is seeking Chapter 11 bankruptcy protection for its 50 percent stake in the Green Valley Ranch Resort hotel-casino in Henderson.

Records filed Wednesday in U.S. Bankruptcy Court in Reno seek protection for GV Ranch Station Inc., a company owned by Las Vegas-based Station Casinos. It manages the 572-room hotel-casino.

Station Casinos operates 18 casinos in the Las Vegas area. It filed for Chapter 11 bankruptcy protection in July.

Green Valley Ranch co-owner the Greenspun Corp. of Henderson has not filed for bankruptcy on its 50 percent portion of the resort.

GV Ranch Station listed less than 50 creditors, which it says are owed between $10 million and $50 million. It estimates assets at $100 million to $500 million.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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