Station Casino Completes New Bank Facility

LAS VEGAS -- (PRESS RELEASE) -- Station Casinos, Inc. (NYSE: STN) today announced that it has completed its new $1 billion revolving bank facility (the "Bank Facility"), which refinances its $500 million revolving credit facility. The Bank Facility was arranged by Banc of America Securities, with agent banks, Bank of America, Bank of Scotland, Deutsche Bank Trust Company Americas, Lehman Commercial Paper and Wells Fargo Bank. The Bank Facility reduces the pricing, contains no principal amortization and matures in December 2009. The Bank Facility also contains certain financial covenants including a maximum funded debt to EBITDA ratio, a minimum fixed charge coverage ratio and limits on capital expenditures and investments.

In addition, the Company has completed a new $250 million revolving bank facility and term loan for Green Valley Ranch Station Casino (the "Green Valley Facility"), which refinances the $250 million revolving credit facility and term loan. The Green Valley Facility was arranged by Banc of America Securities and Wells Fargo Bank. The Green Valley Facility reduces the pricing, extends the maturity of the revolving portion to 2009 and the term loan portion to 2011. The Green Valley Facility also contains certain financial covenants including a maximum funded debt to EBITDA ratio, a minimum fixed charge coverage ratio and limits on capital expenditures and investments.