Subsequent Events

12 Months Ended

Dec. 31, 2011

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

As of January 3, 2012 the lenders of the Propco Term Loan Tranche B-3 elected to fix the interest rate and exchange the entire $625 million of Tranche B-3 term loans for senior unsecured notes in a form suitable for resale under Rule 144A of the Securities Act of 1933, as amended. See Note 15 for additional information.

On February 2, 2012, FI Station Investor entered into a purchase agreement to purchase all of the outstanding equity interests of Station Holdco held by JPMorgan Chase Bank N.A. for an aggregate purchase price of $73.0 million, subject to adjustment for exercises of rights of first refusal and tag-along sales pursuant to the terms of the Equityholders Agreement. It is expected that FI Station Investor will own approximately 58% of the equity interests in Station Holdco after completion of the purchase.

On February 16, 2012, the Company entered into an agreement to sell an approximately 639-acre parcel of land that was previously held for development near Chico, California. The expected sale price is approximately $0.8 million in cash, which is equal to the carrying value of the land at December 31, 2011. The Company acquired the land pursuant to a 2004 agreement with the MITCR to develop a Native American gaming facility on the site. Due to changes in the economic climate which resulted in a revision of the expected potential of the proposed project, the Company elected not to proceed with the development. The land sale is expected to close in the second quarter of 2012.

Management has evaluated all activity of the Company and concluded that no other subsequent events have occurred that would require recognition in the consolidated financial statements or disclosure in the notes to the consolidated financial statements.