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Fertitta Group to Pay $500 Million for Green Valley Casino

Green Valley Ranch Resort, Spa & Casino in suburban Las Vegas, a joint venture of Station Casinos Inc. and Greenspun Corp., will be acquired for $500 million by a group led by the Fertitta family through a prepackaged bankruptcy.

Holders of more than 90 percent of the resort’s first-lien debt agreed to the deal, which is expected to be completed by June 30, Station Casinos said today in an e-mailed statement. The acquisition will be partly financed by a new loan.