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Station Casinos to Reorganize Under Chapter 11

Station Casinos and its subsidiaries have announced that they have filed a Joint Plan of Reorganization under Chapter 11 of the Bankruptcy Code.

As part of the plan, the mortgage lenders that are holding debt secured by Red Rock Casino Resort Spa, Palace Station, Boulder Station, and Sunset Station will become the equity owners of a newly-formed company and will sell 46% of the equity to Frank Fertitta III and Lorenzo Fertitta, who will make a significant new investment to purchase their equity in the new company. 

The remaining equity will be owned primarily by the Propco Lenders and Colony Capital, who will also be making a new investment in the company.  Fertitta Gaming, will also manage the Propco Properties under a long-term management agreement. 

More than $19 Million in Unclaimed Tax Refunds

LAS VEGAS -- The IRS has more than $19 million in unclaimed refunds for Nevada taxpayers and the deadline to claim the money is nearing.

According to the IRS, the refunds are for people who did not file a tax return for 2006. The owed money equates to a median refund of about $575 for 19,000 taxpayers.

"There is about $19 million for about 19,400 Nevadans. The window of opportunity to claim this money is about to expire and they really need to act," said Jesse Weller, IRS.

To collect the money, a 2006 tax return must be filed by April 15, 2010.

"Why should I just let it go to the IRS?" said Steven Hansen a taxpayer who made the mistake of doing that once before. He's learned his lesson, and today it's a much different story.

"That could've been money for anything medical bills, even my rent."

Wind Turbine Plant to Be Built In Las Vegas

LAS VEGAS --  A group of companies has announced plans to develop a plant in the Las Vegas valley that would employ about 1,000 people for manufacturing wind turbines.

The announcement was made by U.S. Renewable Energy Group (US-REG), a Chinese company called A-Power Energy Generation Systems Ltd., and the real estate development company American Nevada Company of Henderson.

The plan calls for building a the 320,000-square-foot plant in Las Vegas. The plant would manufacture and assemble wind-energy turbines that would supply energy projects throughout North and South America.

Senator Harry Reid has been leading the effort to develop renewable energy and promote investment in Nevada.

New Law Targets Henderson Massage Businesses

HENDERSON -- Henderson is tightening regulations on massage parlors and similar businesses, after council members said they wanted the city to be more family friendly.

A city official said the law affects about 50 businesses offering massages and pressure-point reflexology. The ordinance limits hours of operation from 8 a.m. to 10 p.m., bans the use of tinted glass on exterior windows, and sets clothing requirements for employees. The rules make massage businesses in Henderson more highly regulated than in Clark County and other cities in the Las Vegas area.

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