EX-99.1 2 a08-30435_1ex99d1.htm EX-99.1

Exhibit 99.1

 

CONTACT:         Thomas M. Friel, (800) 544-2411 or (702) 495-4210

Executive Vice President, Chief Accounting Officer and Treasurer

 

Lori B. Nelson, (800) 544-2411 or (702) 495-4248

Director of Corporate Communications

 

FOR IMMEDIATE RELEASE:   December 15, 2008

 

Station Casinos, Inc. Announces Termination of  Private Exchange Offer

 

LAS VEGAS – December 15, 2008

 

Station Casinos, Inc. announced today that it has determined that certain of the conditions to its previously announced private exchange offer (the “Exchange Offer”) for its outstanding 6% Senior Notes due 2012, 73/4% Senior Notes due 2016, 61/2% Senior Subordinated Notes due 2014, 67/8% Senior Subordinated Notes due 2016 and 65/8% Senior Subordinated Notes due 2018 (the “Old Notes”) described in the confidential information memorandum dated November 25, 2008 (the “Confidential Offering Memorandum”) will not be satisfied and that it is terminating the Exchange Offer.  As a result of the termination of the Exchange Offer, Term Loans will not be issued for either the Exchange Payment or the Consent Payment (as such terms are defined in the Confidential Offering Memorandum) to holders of Old Notes who have validly tendered their Old Notes in connection with the Exchange Offer and the Old Notes previously tendered pursuant to the Exchange Offer will be promptly returned to the tendering holders.

 

Company Information and Forward Looking Statements

 

Station Casinos, Inc. is the leading provider of gaming and entertainment to the residents of Las Vegas, Nevada. Station’s properties are regional entertainment destinations and include various amenities, including numerous restaurants, entertainment venues, movie theaters, bowling and convention/banquet space, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering.  Station owns and operates Palace Station Hotel & Casino, Boulder Station Hotel & Casino, Texas Station Gambling Hall & Hotel, Sunset Station Hotel & Casino, Santa Fe Station Hotel & Casino, Red Rock Casino Resort Spa, Fiesta Rancho Casino Hotel, Fiesta Henderson Casino Hotel, Wild Wild West Gambling Hall & Hotel, Wildfire Casino Rancho, Wildfire Casino Boulder, formerly known as Magic Star Casino, Gold Rush Casino and Lake Mead Casino.  Station also owns a 50% interest in Green Valley Ranch Station Casino, Aliante Station Casino & Hotel, Barley’s Casino & Brewing Company, The Greens and Renata’s Casino in Henderson, Nevada and a 6.7% interest in the joint venture that owns the Palms Casino Resort in Las Vegas, Nevada.  In addition, Station manages Thunder Valley Casino near Sacramento, California on behalf of the United Auburn Indian Community.

 

This press release contains certain forward-looking statements with respect to the Company and its subsidiaries which involve risks and uncertainties that cannot be predicted or quantified, and consequently, actual results may differ materially from those expressed or implied herein.  Such risks and uncertainties include, but are not limited to, the effects of local and national economic, credit and capital market conditions on the economy in general, and on the gaming and hotel industries in particular; changes in laws, including increased tax rates, regulations or accounting standards, third-party relations and approvals, and decisions of courts, regulators and governmental bodies; litigation outcomes and judicial actions, including gaming legislative action, referenda and taxation; acts of war or terrorist incidents or natural disasters; the effects of competition, including locations of competitors and operating and market competition; and other risks described 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, as amended, for the year ended December 31, 2007, and its Registration Statement on Form S-3ASR File No. 333-134936.  All forward-looking statements are based on the Company’s current expectations and projections about future events.  All forward-looking statements speak only as of the date hereof and the Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.