Station Casinos

Station Casinos is a Las Vegas, Nevada-based gaming company with approximately $5.2 billion of outstanding debt, according to its 10 November 2008 10Q filings. The company missed its interest payment on 3 February 2009 for a $450 million, 6.5% bond maturing in 2014. Station failed to make the payment within the 30-day grace period, which ended on 3 March 2009.

In an SEC filing made on 3 March, Station Casinos reported that it had not made a $24.1 million interest payment for its $700 million, 6.857% senior subordinated notes due 2016. The payment was due on 1 March, and the grace period during which the company can make the payment ends on 31 March.

Station Casinos also announced that on 16 March it decided not to make a $9.9 million interest payment due on 15 March, to holders of the $300 million, 6.625% senior subordinated notes due 2018. The grace period will end on 14 April 2009.