Station Casinos LLC Announces Optional Redemption of $250 million of Senior Notes

LAS VEGAS, April 10, 2017 -- Station Casinos LLC (the “Company”) today announced that it has issued a conditional notice of redemption for $250 million in aggregate principal amount of its 7.50% Senior Notes due 2021 (the “Notes”).  The redemption of the Notes is subject to the condition that the Company shall have obtained gross proceeds of at least $250 million from borrowings made pursuant to an increase in term loans under the Company’s existing credit agreement (the “Financing Condition”).  The redemption of the Notes is expected to occur on May 10, 2017 (the “Redemption Date”). 

Subject to the satisfaction or waiver of the Financing Condition, Station intends to redeem $250 million in aggregate principal amount of its Notes at a price equal to 103.750% of the principal amount of such Notes, together with accrued and unpaid interest to, but not including, the Redemption Date.  The redemption is being made in accordance with the terms of the indenture governing the Notes. 

This press release is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consent with respect to any securities.

ABOUT STATION CASINOS

Station Casinos LLC is the leading provider of gaming and entertainment to the residents of Las Vegas, Nevada. Station's properties, which are located throughout the Las Vegas valley, 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 Red Rock Casino Resort Spa, Green Valley Ranch Resort Spa Casino, Palace Station Hotel & Casino, Boulder Station Hotel & Casino, Sunset Station Hotel & Casino, Santa Fe Station Hotel & Casino, Texas Station Gambling Hall & Hotel, Fiesta Rancho Casino Hotel, Fiesta Henderson Casino Hotel, Wildfire Rancho, Wildfire Boulder, Wild Wild West Gambling Hall & Hotel, Wildfire Sunset, Wildfire Valley View, Wildfire Anthem and Wildfire Lake Mead. Station also owns a 50% interest in Barley’s Casino & Brewing Company, Wildfire Casino & Lanes and The Greens. In addition, Station is the manager of Graton Resort & Casino in northern California and owns a 50% interest in MPM Enterprises, LLC, which is the manager of Gun Lake Casino in southwestern Michigan.

FORWARD-LOOKING STATEMENTS

Statements contained in this news release that state the Company’s or management’s intentions, expectations or predictions of the future are forward-looking statements. Specifically, the Company cannot assure you that it will be able to obtain financing to satisfy the Financing Condition on terms that are satisfactory to the Company, or at all.  Actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially is contained from time to time in the Company’s filings 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, 2016.  The Company disclaims any intention or obligation to revise any forward-looking statements, including financial estimates, whether as a result of new information, future events or otherwise.

Investors:
Daniel Foley, 702-495-3550
[email protected]
or

Media Contacts:
Lori Nelson, 702-495-4248
[email protected]