Union Gaming Group analyst Christopher Jones told investors last month the size of the stock offering seemed small but was in line with expectations. The company has not given a timetable for the IPO, only saying it hopes to raise $100 million through the stock sale. The move comes after Station Casinos filed paperwork with the Securities and Exchange Commission last month for an initial public offering covering the privately held casino operator. Representatives from CBRE did not return phone calls. Station Casinos declined comment on the listing. However, a deed restriction precludes any gaming being operated on the site. The land fronts Las Vegas Boulevard, south of the South Point, and along Cactus Avenue, where a new interchange with Interstate 15 recently opened.Īccording to the listing, the land is being marketed for a potential for resort, mixed-use or high-density residential development. The casino operator listed the 56.63-acre site with CBRE Las Vegas. Station Casinos is trying to sell nearly 57 acres of undeveloped land on the far south end of the Strip for $40 million although one of the sale requirements is that the land not be used for gaming.
