2008 may have been a year of historic growth for MMA, but in terms of the competitive landscape it remains a virtual UFC monopoly. EliteXC’s spectacular failure last fall, despite a historic network television deal and a number of marquee fighters, begs the question: Can a viable competitor emerge? Can the market sustain another national […]
financial
Station Casinos Draws $239M of Revolving Credit
Yesterday Station Casinos announced that it was drawing down $239 million of its revolving credit line. According to a filing with the SEC, the casino asked for the remaining $257 million available under its revolving credit facility and as of last Friday $239 million of that had been funded. The money will be used for […]
S&P Cuts Station Casinos Secured Debt Rating
NEW YORK, Dec. 15, 2008–Standard & Poor’s Ratings Services said today that its ‘CC’ corporate credit rating on Las Vegas-based Station Casinos Inc. remains on CreditWatch with negative implications, where it was placed Nov. 26, 2008. The ‘C’ rating on the company’s senior unsecured and subordinated debt issues also remains on CreditWatch with negative implications. […]
More Trouble for Station Casinos
Reuters reports that holders of Station Casinos’ bonds have rejected a proposed debt restructuring: Station Casinos Inc, which is fending off bankruptcy, said on Wednesday it has a received a letter from a lawyer representing its bondholders saying they view terms in a proposed debt exchange as inadequate. The statement leaves the casino operator in […]
Showtime Adjourns Public Sale of ProElite Property
NEW YORK (Nov. 14, 2008) – Showtime Networks Inc. has adjourned the previously announced public sale of personal property of ProElite, Inc. and certain of its subsidiaries scheduled for November 17, 2008. Showtime reserves all of its rights, including the right to further adjourn or cancel the public sale and thereafter dispose of such property in […]