Boyd Objects to Station Casinos Bankruptcy Plan

LAS VEGAS -- Casino operator Boyd Gaming Corp. is objecting to a proposed bankruptcy plan by rival Station Casinos Inc., saying it devalues certain properties that would be sold under a court auction.

Boyd said in a Wednesday filing in federal bankruptcy court in Reno that Station's current plan would call for most of its properties to be sold without player databases and other operating tools essential for casinos.

Boyd said that makes the properties less valuable to outside buyers. Boyd has publicly declared interest in buying out its main rival in the locals casino market in Las Vegas, but its offers have been rejected.

A judge has set a May 4 hearing to discuss Station's proposal. Station owns all or part of 18 properties, and is proposing to split itself in two.

 (Copyright 2010 by The Associated Press. All Rights Reserved.)


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