Station Casinos Discloses Value of Accumulated Real Estate

Station Casinos, Inc. has recently disclosed the value of its acquired real estate properties in a recent Securities and Exchange Commission (SEC) filing. Accordingly, the 489 acres Station Casinos has purchased mainly in the state of Nevada are now worth as much as $1.3 billion.

Station Casinos CFO Glenn Christenson was reported as saying that the company performed the estimates in order to fully disclose the land price information to potential investors and also because company's real estate assets have become an almost inseparable component of its stock value.

Also, Carlton Geer, director of CB Richard Ellis' Global Gaming Group in Las Vegas, reportedly said that the gradual increase of land prices in the Las Vegas strip has changed the way real estate investors value operators of casinos. Property that eventually becomes more expensive than the revenues produced by the facility built on its premises, is less valuable for these investors. Geer added that Station's relatively aggressive real estate purchase policy has the potential to pay off in the future.

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