Tuesday, November 3, 2009

Boyd pursues Station Casinos in bankruptcy court

LAS VEGAS—Casino operator Boyd Gaming Corp. is asking a federal bankruptcy judge to let it buy some or part of the assets of one of its rivals.
Las Vegas-based Boyd filed a motion Sunday in Station Casinos Inc.'s Chapter 11 reorganization case in U.S. Bankruptcy Court in Reno.

Boyd wants the judge to appoint an examiner so outside companies can offer reorganization plans.

Station Casinos rejected a $950 million offer earlier this year from Boyd to buy some or all of Station's assets.

Station Casinos operates 18 casinos in the Las Vegas area. It filed for bankruptcy protection in July and asked the court last week for a four-month extension to submit a reorganization plan.