Station Casinos to reduce revolver debt with some note sale proceeds

By Sara Rosenberg

New York, Jan. 15 - Station Casinos Inc. plans to use a portion of the proceeds of a $325 million senior subordinated note offering to reduce revolver debt, according to a company news release.

The revolver, combined with free cash flow, will be used to develop Red Rock Station, other development capital expenditures and for general corporate purposes.

Remaining proceeds will be used to redeem the company's $199.9 million 8 7/8% senior subordinated notes due December 2008.

Station Casinos is a Las Vegas gaming and entertainment company.

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