Station Casinos to Issue Senior Notes

16th Jan 2004

Station Casinos, Inc. (“Station” or “the Company”) today announced it has
agreed to issue $400 million in aggregate principal amount of 6.50% senior
subordinated notes due February 1, 2014. Subject to customary conditions,
the transaction is expected to close on January 29, 2004. Proceeds from
this offering will be used to purchase or redeem the Company`s $199.9
million in aggregate principal amount of outstanding 8 7/8% senior
subordinated notes due in December 2008, reduce the Company`s revolving
credit facility and for general corporate purposes.

The notes have not been, and will not be, registered under the Securities
Act of 1933, as amended (the “Act”), and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements of the Act.

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, Santa Fe Station Hotel & Casino, Wildfire Casino
and Wild Wild West Gambling Hall & Hotel in Las Vegas, Nevada, Texas
Station Gambling Hall & Hotel and Fiesta Rancho Casino Hotel in North Las
Vegas, Nevada, and Sunset Station Hotel & Casino and Fiesta Henderson
Casino Hotel in Henderson, Nevada. Station also owns a 50 percent interest
in both Barley`s Casino & Brewing Company and Green Valley Ranch Station
Casino in Henderson, Nevada and a 6.7 percent interest in the Palms Casino
Resort in Las Vegas, Nevada. In addition, Station manages the Thunder
Valley Casino in Sacramento, California on behalf of the United Auburn
Indian Community.


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