Station Casinos recently announced Stephen Greathouse and Robert Cashell, Jr. will join its board of managers as representatives of key lenders JPMorgan Chase Bank and Deutsche Bank, respectively. The Las Vegas-locals gaming leader currently is emerging from bankruptcy.
With more than 30 years in the Nevada hotel and gaming industry, Greathouse has served as an executive at Mandalay Resort Group, Boardwalk Hotel & Casino, Alliance Gaming (now Bally Technologies) and Harrah’s Entertainment. Cashell brings more than 25 years in the northern Nevada gaming industry, having worked at or managed Boomtown Hotel & Casino; the Horseshoe Club in Reno; Northpointe Sierra, owner of casinos at the Alamo Casino-Mill City and Alamo Travel Center; Topaz Lodge and Casino in Gardnerville; Sturgeon’s Casino and Fitzgerald’s Hotel and Casino in Reno.
Deutsche Bank and JPMorgan will control Station Casinos with investors led by Frank Fertitta III, who will continue as CEO and president, and his brother Lorenzo Fertitta, of the founding Fertitta family. Other members of the board of managers, who already are part of the Station-Fertitta organization, include: Marc Falcone, executive vice president and chief financial officer; Thomas Friel, executive vice president, chief accounting officer and treasurer; Richard Haskins, executive vice president, general counsel and secretary; Kevin Kelley, executive vice president and chief operating officer; and Scott Nielson, executive vice president and chief development officer.
Station Casinos will comprise 15 or 16 casino properties, depending on whether the Wild Wild West on Tropicana Avenue will be included; the newly formed company has not yet assumed the lease for that property.
Not included in the reorganization are two joint ventures with the Greenspun family, owner of the Las Vegas Sun: Green Valley Ranch resort in Henderson and Aliante Station in North Las Vegas will not be included in the reorganization; they were joint ventures with the Greenspun family. Station executives are attempting to negotiate new terms with the lenders for those properties.