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Station Casinos to Issue 400 Million Dollars


Station Casinos, Inc. (NYSE: STN - News) ("Station" or "the Company") today announced it has agreed to issue $400 million of 7 3/4% senior notes due August 15, 2016. Proceeds from the sale of the notes will be used to reduce a portion of the amounts outstanding on the Company's revolving credit facility. Such borrowings were used for capital expenditures and general corporate purposes, including the repurchase of shares of our common stock previously authorized for repurchase by the Company's Board of Directors.

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 Red Rock Casino

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Although states and local governments generally have the right to regulate persons and activities within their borders, and Indian reservations are contained within such borders, the United States Constitution gives Congress the exclusive authority over Indian affairs. Unless Congress specifically authorizes a state to apply its laws within an Indian reservation, it may not do so. However, in the IGRA, Congress declared that the construction and maintenance of tribal gaming facilities must adequately protect the environment and the health and safety of tribal casino employees and patrons. The Commission ensures that these provisions of the IGRA are implemented.
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Rake

Definition:A portion of the pot that is taken out each hand. This is how the Casino makes it money.

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