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Station Casinos, Inc. Comments on Department of
Interior's Notice of Decision to Place Land in Trust for Gun
Lake Tribe
LAS VEGAS--(BUSINESS WIRE)-5/13/05-Station Casinos, Inc.
(NYSE:STN) ("Station" or the "Company")
commented today on the U.S. Department of Interior's decision to
issue a Notice of Intent to place land in trust for gaming purposes
for the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians
(commonly known as the Gun Lake Tribe) in Wayland Township,
Michigan. On November 14, 2003, the Company announced that it had
purchased an interest in MPM Enterprises, LLC and entered into a
Development Services Agreement and a Management Agreement with the
Gun Lake Tribe.
"We are very pleased that the
U.S. Department of Interior has decided to take the 145 acre parcel
into trust for the Gun Lake Tribe to use for gaming purposes," said
Glenn Christenson, executive vice president and chief financial
officer, Station Casinos, Inc. "We view this decision as one of the
the final steps in the development of a state-of-the-art gaming and
entertainment facility in West Michigan."
"We
congratulate the Gun Lake Tribe and look forward to working with
them in developing and managing their gaming and entertainment
project and will work to strengthen the alliance that the tribe has
forged with the local community as we proceed with the development
process," said Christenson.
Company
Information and Forward-Looking Statements - 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 Palace Station Hotel & Casino, Boulder Station
Hotel & Casino, Santa Fe Station Hotel & Casino, Wildfire
Casino and Wild Wild West Gambling Hall & Hotel in Las Vegas,
Nevada, Texas Station Gambling Hall & Hotel and Fiesta Rancho
Casino Hotel in North Las Vegas, Nevada, and Sunset Station Hotel
& Casino, Fiesta Henderson Casino Hotel, Magic Star Casino and
Gold Rush Casino in Henderson, Nevada. Station also owns a 50%
interest in both Barley's Casino & Brewing Company and Green
Valley Ranch Station Casino in Henderson, Nevada and a 6.7% interest
in the Palms Casino Resort in Las Vegas, Nevada. In addition,
Station manages the Thunder Valley Casino near Sacramento,
California on behalf of the United Auburn Indian
Community.
Development of the proposed
gaming and entertainment project with the Gun Lake Tribe and the
operation of Class III gaming at that project are subject to certain
governmental and regulatory approvals, including, but not limited
to, the governor of the State of Michigan signing the Gun Lake
Tribe's state gaming compact, the Department of the Interior
completing the process of taking land into trust for the benefit of
the Gun Lake Tribe and approval of the management agreement by the
National Indian Gaming Commission. No assurances can be given as to
when, or if, these governmental and regulatory approvals will be
received.
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