Attached files
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8-K - 8-K - Station Casinos LLC | a13-5475_18k.htm |
Exhibit 99.1
News Release | |
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Contact: |
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Investor Relations |
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(702) 495-3000 |
Station Casinos LLC Announces
Proposed Offering of Senior Notes
LAS VEGAS, February 19, 2013 Station Casinos LLC (the Company) announced today that it intends to offer, subject to market and other conditions, approximately $500 million aggregate principal amount of senior notes due 2021 (the Notes) in a private placement.
The Company intends to use the net proceeds from the Notes offering, along with cash on hand and borrowings under a new credit facility, to (i) purchase or redeem all of its outstanding Senior Notes due 2018, (ii) repay all amounts outstanding under the Companys senior secured credit facility and the credit facility under which NP Opco LLC and Station GVR Acquisition, LLC, both subsidiaries of the Company, are borrowers and (iii) pay fees and expenses associated with the refinancing transactions.
The Notes will be offered and sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and to persons outside the United States in accordance with Regulation S under the Securities Act and applicable exemptions from registration, prospectus or like requirements under the laws and regulations of the relevant jurisdictions outside the United States. The Notes will not be registered under the Securities Act and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes referred to above will also not be registered in any jurisdiction outside of the United States and no action or steps will be taken to permit the offer of the Notes in any such jurisdiction where any registration or other action or steps would be required to permit an offer of the Notes. The Notes may therefore not be offered or sold in any such jurisdiction except pursuant to an exemption from, or in a transaction not subject to, the relevant requirements of laws and regulations of such jurisdictions.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities of the Company, nor shall there be any offer, solicitation or sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT STATION CASINOS
Station Casinos LLC is the leading provider of gaming and entertainment to the residents of Las Vegas, Nevada. Stations 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 Casino Spa, 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, and Wildfire Sunset. Station also owns a 50% interest in Barleys Casino & Brewing Company, Wildfire Lanes and Casino and The Greens. In addition, Station owns a 50% interest in MPM Enterprises, LLC, which is the manager of the Gun Lake Casino in southwestern Michigan.
FORWARD-LOOKING STATEMENTS
Statements contained in this news release that state the Companys or managements intentions, expectations or predictions of the future are forward-looking statements. Specifically, the Company cannot assure you that the proposed transactions described above will be consummated on the terms currently contemplated, if 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 Companys filings with the Securities and Exchange Commission (the SEC), including but not limited to the Companys Annual Report on Form 10-K for the year ended December 31, 2011. 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.
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