Station Casinos LLC has been approved to take over operations of Green Valley Ranch, meaning about $378 million in Green Valley debt will be extinguished, but the resort will remain in the Station family. The resort had been co-owned with Greenspun Corp. Station Casinos LLC will emerge from Chapter 11 bankruptcy within the next few weeks, with just $2.5 billion in debt (as opposed to the $6 billion it owed before).

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IGT plans to repurchase up to $500 million of its outstanding shares, using cash on hand. Analysts attribute the timing with an increasing confidence in the prospects for the slot machine business. Also, IGT signed an agreement this week to license more than 70 titles to online casino MoneyGaming.com.

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Las Vegas-based company 777 Gaming has received approval to acquire Carson Station Casino in Carson, a move expected to stabilize the casino with plans for remodeling and customer growth.