Station Casinos Enters Partnership with California Tribe

5 Mar 2004

LAS VEGAS -- (Press Release) -- Station Casinos, Inc. (NYSE: STN) today announced that it has entered into Development and Management Agreements with the North Fork Rancheria of Mono Indians (the "Tribe"), a federally recognized Indian tribe located in central California. Station will assist the Tribe in developing and operating a gaming and entertainment project to be located in Madera County, California (the "Project"). Station has secured for the benefit of the Tribe two parcels of land located on Highway 99 north of the city of Madera.

"We are excited about our partnership with Station Casinos and look forward to beginning the land in trust and compacting process that will set the Tribe on the path towards economic self-sufficiency," said Elaine Bethel Fink, chairwoman, North Fork Rancheria of Mono Indians.

Under the terms of the Development Agreement, Station Casinos has agreed to arrange the financing for the ongoing development costs and construction of the Project. Although no firm construction budget has been established, the Company expects the total cost of the development and construction of the Project will be less than $225 million. Funds advanced by Station Casinos are expected to be repaid from the proceeds of the project financing or from the Tribe's gaming revenues. The Management Agreement has a term of seven years and provides for a management fee of 24% of the Project's net income. As currently contemplated, the Project will include approximately 2,000 slot machines, 70 table games and dining, hotel, and entertainment amenities.

"We are pleased that the North Fork Tribe has given us the opportunity to assist them with their economic development project," said Frank Fertitta III, chairman of the board and chief executive officer of Station Casinos, Inc. "Without a doubt, this partnership demonstrates the growing strength of our tribal gaming management franchise," said Fertitta.

Development of the gaming and entertainment project is subject to certain governmental and regulatory approvals, including, but not limited to, negotiating a gaming compact with the State of California, the United States Department of the Interior accepting land into trust on behalf of the Tribe, and approval of the Management Agreement by the National Indian Gaming Commission.

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	Station Casinos Enters Partnership with California Tribe 5 Mar 2004 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> LAS VEGAS -- (Press Release) -- Station Casinos, Inc. (NYSE: STN) today announced that it has entered into Development and Management Agreements with the North Fork Rancheria of Mono Indians (the "Tribe"), a federally recognized Indian tribe located in central California. Station will assist the Tribe in developing and operating a gaming and entertainment project to be located in Madera County, California (the "Project"). Station has secured for the benefit of the Tribe two parcels of land located on Highway 99 north of the city of Madera. "We are excited about our partnership with Station Casinos and look forward to beginning the land in trust and compacting process that will set the Tribe on the path towards economic self-sufficiency," said Elaine Bethel Fink, chairwoman, North Fork Rancheria of Mono Indians. Under the terms of the Development Agreement, Station Casinos has agreed to arrange the financing for the ongoing development costs and construction of the Project. Although no firm construction budget has been established, the Company expects the total cost of the development and construction of the Project will be less than $225 million. Funds advanced by Station Casinos are expected to be repaid from the proceeds of the project financing or from the Tribe's gaming revenues. The Management Agreement has a term of seven years and provides for a management fee of 24% of the Project's net income. As currently contemplated, the Project will include approximately 2,000 slot machines, 70 table games and dining, hotel, and entertainment amenities. "We are pleased that the North Fork Tribe has given us the opportunity to assist them with their economic development project," said Frank Fertitta III, chairman of the board and chief executive officer of Station Casinos, Inc. "Without a doubt, this partnership demonstrates the growing strength of our tribal gaming management franchise," said Fertitta. Development of the gaming and entertainment project is subject to certain governmental and regulatory approvals, including, but not limited to, negotiating a gaming compact with the State of California, the United States Department of the Interior accepting land into trust on behalf of the Tribe, and approval of the Management Agreement by the National Indian Gaming Commission.