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EXHIBIT 99.1
THURSDAY JUNE 29, 9:13 PM EASTERN TIME
COMPANY PRESS RELEASE
SOURCE: STATION CASINOS, INC.
STATION CASINOS, INC. ANNOUNCES SALE OF $375 MILLION 9 7/8 PERCENT SENIOR
SUBORDINATED NOTES DUE 2010
LAS VEGAS, June 29 /PRNewswire/ -- Station Casinos, Inc., (NYSE: STN - news)
today announced the sale of $375 million of 9 7/8 percent senior subordinated
notes due December 2010 which were priced to yield 9.9375 percent. Proceeds
from the sale of the notes will be used to repay amounts outstanding under
the Company's revolving credit facility and term loan. The availability
created on the revolving credit facility will, in part, be used to fund the
purchase of the Santa Fe Hotel & Casino in the fourth quarter, subject to the
receipt of necessary regulatory approvals.
The senior subordinated notes have not been registered under the Securities
Act of 1933 and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements.
Station Casinos, Inc. is a multi-jurisdictional gaming company that owns and
operates the Palace Station Hotel & Casino, the Boulder Station Hotel &
Casino, the Texas Station Gambling Hall & Hotel, and the Wild Wild West
Gambling Hall & Hotel in Las Vegas, Nevada, Sunset Station Hotel & Casino in
Henderson, Nevada, as well as slot machine route management services in Clark
County, Nevada. Station Casinos, Inc. also owns and operates Station Casino
St. Charles, a gaming and entertainment facility in St. Charles, Missouri,
and Station Casino Kansas City, a gaming and entertainment facility in Kansas
City, Missouri.
This press release may be deemed to contain certain forward-looking
statements with respect to the financial condition, results of operations and
expansion projects of the Company and its subsidiaries which involve risks
and uncertainties including, but not limited to, competition from other
gaming operations, construction risks, and licensing and other regulatory
risks. Further information on potential factors which could affect the
financial condition, results of operations, and expansion projects of the
Company and its subsidiaries, are included in the filings of the Company with
the Securities and Exchange Commission, including, but not limited to the
Company's Annual Report on Form 10-K for the year ended December 31, 1999,
its quarterly report on Form 10-Q for the quarter ended March 31, 2000, and
its Registration Statement on Form S-4 File No. 333-71227. The Company's 1999
Annual Report is available to view on its website at www.stationcasinos.com.
SOURCE: STATION CASINOS, INC.
