Last week I was driving down Rancho south of Palace Station, along the freeway, and I noticed that they were tearing up the Scandi miniature golf site and was wondering what was going there.
Well, here's a little news:
http://www.lvbusinesspress.com/artic...4181841286.txt
Station makes first move in Palace revamp
BY ARNOLD M. KNIGHTLY
December 22, 2006
A subsidiary of Station Casinos and FBLV Holding Company have entered into an operating agreement that combines 52 acres of land behind Palace Station stretching back to Desert Inn Road, according to a notice that was filed Friday with the Securities and Exchange Commission.
Calls to Station Casinos executives revealed that the office is closed until Wednesday for the holiday.
The Las Vegas Sun reported in July that realtors were buying up houses behind the Palace Station, which is located on the corner of Rancho Drive and Sahara Avenue. While the agents never revealed who they were working for, residents of the area speculated that Station Casinos was behind the purchases.
According to the SEC filing, it is anticipated that the joint venture will develop, construct and manage a master development plan with mixed-use residential, retail, and entertainment.
The agreement includes the old 4.39-acre Scandia Family Fun Center that was sold to the New York-based Fisher Brothers for $6.35 million in September 2005. That sale closed earlier this year.
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SEC Filing:
http://yahoo.brand.edgar-online.com/...2384&Type=HTML
Form 8-K for STATION CASINOS INC
22-Dec-2006
Other Events
ITEM 8.01. OTHER EVENTS
On December 19, 2006, SC Rancho Development, LLC, a wholly-owned subsidiary of Station Casinos, Inc. (the "Company"), and FBLV Holding Company LLC ("FBLV"), entered into an amended and restated operating agreement. Pursuant to the amended and restated operating agreement, the parties contributed, or caused to be contributed, approximately 52 acres (with approximately 20 acres contributed by the Company and approximately 32 acres contributed by FBLV) of improved and unimproved real property located along Rancho Road between Teddy Avenue and Desert Inn Road in Las Vegas, Nevada into a joint venture. It is anticipated that the joint venture will develop, construct and manage, pursuant to a master development plan, a mixed-use residential, retail and entertainment (excluding non-restricted gaming) project on all or a portion of such property. The timing, cost and scope of the project have yet to be determined.
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Station Casinos, Inc.
Date: December 22, 2006 By: /s/ Glenn C. Christenson Glenn C. Christenson Executive Vice President, Chief Financial Officer, Chief Administrative Officer and Treasurer