Station Casinos Top Off Red Rock Resort Spa Casino

LAS VEGAS -- (PRESS RELEASE) -- The Red Rock Resort Spa Casino today reached a significant construction milestone as the last steel beam and an American flag were hoisted to the top of the luxury resort. Representatives from Station Casinos, Inc. (NYSE: STN) and Perini Building Company, a wholly owned subsidiary of Perini Corporation (NYSE: PCR) joined more than 800 craftspeople at the topping out ceremony

"While today marks a significant step in the construction of Red Rock Resort Spa Casino, it is also an opportunity for us to show our appreciation to all of those who have contributed their artistic and trade expertise to this facility," said Glenn Christenson, executive vice president and chief financial officer for Station Casinos, Inc. "Despite inclement weather, this project remains on schedule. That is testament to the extraordinary commitment of the team of individuals working on Red Rock and we celebrate their professionalism today," added Christenson

Scheduled for completion in early 2006, Red Rock Resort Spa Casino is located on approximately 70 acres at the intersection of I-215 and West Charleston Boulevard in the northwest area of the Las Vegas Valley and is set against the backdrop of the Red Rock Mountains. The Friedmutter Group architectural firm, who also participated in the design of the popular Green Valley Ranch Station Resort Casino & Spa in Henderson, Nevada, designed the resort to blend in with the surrounding environment.

Station Casinos, Inc. recently announced that due to greater than expected demand, it is accelerating the Phase II expansion of Red Rock. The project will now include over 2,800 slot machines, approximately 850 hotel rooms, 94,000 square feet of meeting and convention space, a 35,000 square-foot spa, nine full service restaurants, 16-screen movie theater complex, a night club and private pool club to be operated by Midnight Oil Company (the operator of the "Whiskey" bars and clubs at Green Valley Ranch and in New York and Los Angeles), both indoor and outdoor entertainment venues and parking for almost 5,500 vehicles. The Red Rock Resort Spa Casino will employ approximately 2,000 team members.

Based on increased amenities, an upgrade in the quality of the finishes throughout the project, general increases in construction costs and the addition of the Phase II expansion, the total cost of Red Rock is now expected to be approximately $800 million.