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Off-Strip Las Vegas gambling company Station Casinos to go public, again
– canadianbusiness.com
LAS VEGAS, Nev. – The off-Strip casino-hotel chain Station Casinos that caters to Las Vegas locals is going public, again.
The company announced last week it plans to make a public stock offering and use some of the money it raises to buy out a related management company for $460 million in cash.
Brothers Frank Fertitta III and Lorenzo Fertitta own the management company as well as a 58 per cent stake in Station Casinos.
The company owns or partly owns 21 casinos in the Las Vegas area, Northern California and Michigan. It’s been on the upswing since filing for bankruptcy in mid-2009, emerging two years later with less debt.
The company hasn’t revealed how much it expects to raise from the public offering, at what share price and which stock market it will be traded on.
The post Off-Strip Las Vegas gambling company Station Casinos to go public, again appeared first on Canadian Business – Your Source For Business News.
The company announced last week it plans to make a public stock offering and use some of the money it raises to buy out a related management company for $460 million in cash.
Brothers Frank Fertitta III and Lorenzo Fertitta own the management company as well as a 58 per cent stake in Station Casinos.
The company owns or partly owns 21 casinos in the Las Vegas area, Northern California and Michigan. It’s been on the upswing since filing for bankruptcy in mid-2009, emerging two years later with less debt.
The company hasn’t revealed how much it expects to raise from the public offering, at what share price and which stock market it will be traded on.
The post Off-Strip Las Vegas gambling company Station Casinos to go public, again appeared first on Canadian Business – Your Source For Business News.
IBM shares hit five-year low after disappointing results
– theglobeandmail.com
Weak earnings, investor concerns over outlook for cloud computing business hit company's stock
The reaction to Canada’s first Liberal majority government in more than a decade is likely to be mixed from the stock market and Canada’s business community.
Ivanhoe Cambridge, the real estate arm of Caisse de dépôt et placement du Québec, has partnered with U.S.-based Blackstone to buy the largest apartment complex in Manhattan for $5.3 billion US.
Transferring RRSP stocks to a dividend reinvestment plan
– moneysense.ca
Q: I have a locked-in RRSP that has some stocks. The companies for those stocks offer dividend reinvestment plans. However, because my RRSP is with a bank, I am not able to access the DRIP programs. Can I split out those stocks and put them into a self-directed RRSP so that I can access the DRIP programs?
— Paulina
A: There are generally no restrictions on transferring a registered account to another institution, unless it’s a group RRSP or defined contribution pension plan and you are still working for the sponsoring employer. Personal RRSPs and even locked-in RRSPs are therefore fair game, Paulina.
The “locked-in” aspect of a locked-in RRSP or LIRA just refers to the inability to take withdrawals prior to age 55 (unless there are eligible extraordinary circumstances) and the maximum withdrawal limits in retirement (unlike regular RRSPs, which have no maximums).
Registered account transfers can be done on a tax-deferred basis from one institution to another using Canada Revenue Agency form T2033…
— Paulina
A: There are generally no restrictions on transferring a registered account to another institution, unless it’s a group RRSP or defined contribution pension plan and you are still working for the sponsoring employer. Personal RRSPs and even locked-in RRSPs are therefore fair game, Paulina.
The “locked-in” aspect of a locked-in RRSP or LIRA just refers to the inability to take withdrawals prior to age 55 (unless there are eligible extraordinary circumstances) and the maximum withdrawal limits in retirement (unlike regular RRSPs, which have no maximums).
Registered account transfers can be done on a tax-deferred basis from one institution to another using Canada Revenue Agency form T2033…
