Station Casinos Puts Land Up for Sale

LAS VEGAS (AP) - Debt-laden Station Casinos is trying to sell several parcels of land, including the former site of the Castaways casino.

The 30-acre site on a gambling corridor off the Las Vegas Strip is listed with a commercial broker for an asking price of $39.5 million.

The company is also listing for sale 7.96 acres of vacant land next to its Boulder Station casino and 4.7 acres adjacent to Sunset Station.

The land offerings come as the locals casino operator is trying to get bondholders who hold $2.3 billion of the company's debt to sign off on a prepackaged bankruptcy plan.

Lori Nelson, Station Casinos' director of corporate communications, declined to comment Friday.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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