STATION CASINOS HAS THE OPPERTUNITY TO GROW WITH THE HELP OF COLONY CAPITAL

Implications: OK - The Nevada Gaming commissions has finally approved the buyout of Station Casinos. Where do they go from here. I don't see any real problems with this new partnership. No doubt that the running of Stations will be in the capable hands of the Fertitta brothers. They have shown a very solid feel for knowing what the gaming market needs and they have been filling that need. Don't try and fix what is not broken should be the story with Colony Capital.

Analysis: Tom Barrack, top man with Colony Capital, has said that the day to day affairs of running Station Casinos will be handled by the Fertittas. A sound decision. They have shown their ability for keeping Stations in the lead for the local casino market in Las Vegas. The Gaming commission has seen fit to approve this new partnership and the only thing holding the completion of the deal is getting the same type of action from Indian Gaming. My guess is, that this is a matter of routine and their should be no problems with this approval. Ok, now that there are no more worries of stock holders putting some dampers on future projects. It would be my thought,  that Stations will now take some of their plans off of hold and get moving again. This is a real opportunity for this new dynamic company to shine. The only thing holding them back would be a turn down on certain projects from Colony Capital boss. My thinking is that Tom Barrack is the type of guy that will allow Stations to grow into a bigger and more successful company.

The one thing that does come to mind is why the partners did not include the Las Vegas Hilton, now owned by Colony, in this move. It would have certainly put some additional strength in their new company and added a great Brand to their package. It remains to be seen if this is not done sometime in the future. It will lend more meaning to Colony's portfolio. It really does not affect the Fertittas one way or another as they are basically Station partners only. Interesting thought.

I will be interested to see how fast Stations gets moving on the two locations that have been put on hold since this deal was announced. They have their sights set on putting a shovel in the ground for Durango Station, located at I-215 and Durango. It will be a terrific location for them. They also have been toying with the old Showboat property on the Boulder Hwy gaming corridor. Lots on their plate and now is the time to get moving. They know the territory, are smart operators and have the ability to build the best for the location available. I think big things are going to happen for Station Casinos and Colony Capital...............