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 […]
Zuffa
S&P Places Station Casinos on CreditWatch List
NEW YORK Oct. 20, 2008–Standard & Poor’s Ratings Services today placed its ratings, including its ‘B-‘ corporate credit rating, on Las Vegas-based Station Casinos Inc. on CreditWatch with negative implications. “The CreditWatch listing reflects our concerns around the company’s progress toward amending its bank covenants,” explained Standard & Poor’s credit analyst Ben Bubeck. On Sept. […]
Fertittas Among 25 Highest Paid Men
Executive compensation has become a hot button issue during the recent economic crisis. A list compiled by Fortune magazine of the 25 Highest Paid Men features, perhaps surprisingly, two names familiar to the MMA industry. Frank and Lorenzo Fertitta, owners of Zuffa, parent company of the UFC, ranked third and fourth respectively on the list. […]
WEC Drops Middleweight & Light Heavyweight Divisions
Months of speculation ended on Thursday as Zuffa’s World Extreme Cagefighting (WEC) announced that they will no longer be promoting fights at the 185lbs. or 205lbs. weight limits. It’s become clear that the WEC is very much focused on becoming the home for the best lighter weight fighters in the world. Dropping the heavier weights will help to […]
Fighter Salaries: A Fair Share of Revenues (Part 4)
Meeting Fighter Interests Unfortunately, for the fighters and the public that love to loathe the UFC, a lack of information and the problematic complexities of a definitive revenue splitting scheme means that they may have no other choice than to cooperate with the UFC and trust that Dana White “takes care of his guys”. Most […]