We’re going to have to get used to calling Station Casinos by its new corporate moniker, Red Rock Resorts (ticker symbol RRR). Oh, the Station brand isn’t going anywhere: For consumer-oriented purposes, all the Stations and Wildfires and so on will retain their 
current names. But, as part of reverting to being publicly traded, Station is becoming Red Rock Resorts, like a big-ass version of its flagship property. The Fertitta Brothers, who paid themselves a tidy $460 million to be bought out of managing the company through a third-party entity, are launching an IPO that aims to raise $569 million. The public offering had been originally scheduled for January but the waters were deemed too choppy at the time and are smoother now. The proceeds of the IPO will be used to purchase Station Holdco LLC, yet another company that “develops, owns, operates, and manages hotel and casino properties” and happens to be run by Frank Fertitta III. So the Station shell game continues. Imagine what the company could do if it put its money toward long-in-abeyance Durango Station or other deferred projects (in Reno, for instance).
* In a veiled swipe at the anti-casino Boston Globe, the Boston Herald has dug into data on Plainridge Park, courtesy of the Massachusetts Gaming Commission. While it found “an uptick in traffic-related calls” to the police and more drunk-driving arrests, which may or may not be attributable to the racino, “There was no increase in robbery, burglary or theft in Plainville or five surrounding communities over the first six months of the casino’s operation, and there was actually a decrease in car thefts.” Plainville Chief of Police James Alfred characterized the situation as “so far so good.” The editorial also noted sequential increases in Plainridge revenue since December, adding, “the $50 million in state taxes collected from slot play since the facility opened last July is $50 million the commonwealth didn’t collect a year ago.” Score one for Penn National Gaming and one against the Globe.
* Golden Entertainment continues its quest to dominate the Montana slot-route market. The Vegas-based operator has purchased generically named Amusement Services. The deal gives Golden another 1,800 machines in 180 locations, including 350 on tribal land. The transaction brings Golden’s Montana tally to 3,000. It also operates another 12,000-plus machines in Nevada, making it the largest slot-route operator in the Silver State. Golden is in an aggressive growth mode and it will be very interesting indeed to see where it goes next. Illinois has slot routes and Pennsylvania has considered them. Might Golden not cast its eyes eastward, especially now that it has a presence there in Maryland‘s Rocky Gap Casino? Stay tuned.
