The Fertitta brothers agreed to put nearly $200 million in the reassembled company and now own 45 per cent of its shares. In the year 2011, the company had exited bankruptcy with $4 billion less in debt. In the year 2009, the company had filed for Chapter 11 Bankruptcy. In 2008, both Frank and Lorenzo Fertitta were listed as billionaires in Forbes' annual list of the world's billionaires, but the purchase loaded the company with billions in debt. As of the year 2006, the company was taken over by Frank Fertitta III, Lorenzo Fertitta and Colony Capital, for almost more than $3.4 billion. In the year 1993, the company was transformed into a limited public company with its first IPO offering. The founder of the company was Frank Ferititta Jr. The company has been active for almost 43 years now. Station Casinos was founded in the year 1976.
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