Station, lawyers for ex-workers seek extended stay from court
Station Casinos and attorneys for former employees seeking back wages are asking the bankruptcy court to extend until April 26 a stay and hearing regarding a lawsuit brought in District Court.
A hearing on the matter was originally scheduled for April 5, the same day Station Casinos’ hearing on its restructuring plan is scheduled.
Station Casinos asked the bankruptcy court March 8 to further delay a trial sought by former employees seeking nearly $60 million in back wages until the company is out of bankruptcy.
Judge Gregg Zive, who is overseeing Station Casinos’ bankruptcy case in Reno, modified an automatic stay in October that was preventing the former employees’ lawsuit from proceeding to trial until after Station Casinos emerges from Chapter 11 bankruptcy. Zive’s October ruling extended the stay until April 5.
The lawsuit, which is seeking class action status for as many as 20,000 current and former Station Casinos employees, was filed in Nevada District Court a week before the gaming company filed for Chapter 11 bankruptcy protection on July 28.
In their lawsuit, three former workers accuse Station Casinos of not paying its workers properly because of a rounding system used to pay hourly workers at the company’s 12 properties. The lawsuit claims Station Casinos rounds off employees’ starting and ending times to its employees’ detriment.
The casino company’s filing said it believes the Nevada labor commissioner is the proper venue to hear the case and the state court would likely dismiss the case for lack of jurisdiction.
MGM Mirage closes offering of $845 million in debt
MGM Mirage closed a previously announced private offering of
$845 million in long-term debt Wednesday, securing the notes with a mortgage on the MGM Grand.
The company said it received approximately $826 million in net proceeds, which allows the casino operator to extend the due date of the debt to 2014.
Analysts said the transaction was done to restructure the company’s debt and give MGM Mirage some financial flexibility.
“The restated credit facility permits the extension of a significant portion of our credit facilities,” MGM Mirage Chief Financial Officer Dan D’Arrigo said in a statement. “These events significantly enhance the liquidity and maturity profile of our company.”
Fresh & Easy opens its 27th
LV store in northwest valley
Fresh & Easy Neighborhood Market opened its latest Nevada location Wednesday with a store on Centennial Center Boulevard north of Ann Road.
It is the 27th location in the Las Vegas area since the grocery store chain opened five local stores on Nov. 14, 2007. Fresh & Easy operates 147 stores in Nevada, California and Arizona.
Eight more stores are planned for the Las Vegas Valley, but no additional opening dates have been announced.
British food giant Tesco owns Fresh & Easy.