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6 July 05

STATION CASINOS, INC. ENTERS INTO AGREEMENT TO PURCHASE 50-ACRE PARCEL IN SOUTH RENO FOR REGIONAL ENTERTAINMENT PROJECT

Reno, NV - Station Casinos, Inc. today announced that they had entered into an agreement to purchase approximately 50 acres of land on the southeast corner of Mt. Rose Highway and Interstate 395 from Bayer Properties Incorporated for the purposes of building a regional gaming and entertainment project.

The project will complement Bayer's Summit Sierra open-air, upscale shopping center - the key retail component of a mixed-use, entertainment, residential, office and retail development in the rapidly growing south end of the city.

"We look forward to entering the Reno market and believe we have the opportunity to create great synergies between a regional gaming and entertainment resort destination and the high-end retail offerings that Bayer is bringing to the Reno area residents at this location," said Lorenzo Fertitta, vice chairman and president of Station Casinos, Inc. "We also believe the amenities that will be part of this mixed-use project will be of the caliber to attract consumers from the entire region," said Fertitta.

Station Casinos' formula of teaming up its gaming and restaurants with those of a high-end retail lifestyle center has been enormously successful at Station's Green Valley Ranch Resort, Casino and Spa in Henderson, Nevada.

The Summit Sierra, scheduled to open in March 2006, is a 650,000 square-foot open-air center anchored by Dillard's and Century Theatres and featuring many of the country's premiere specialty retailers such as Williams-Sonoma, Pottery Barn, Talbots and Coldwater Creek.

Jeffrey Bayer, President of Bayer Properties, comments, "We are delighted to have Station Casinos be a part of this development. It solidifies and enhances the regional nature of this site, which we believe is the new hub of activity for a market that encompasses Reno-Sparks, Lake Tahoe, Carson City and Truckee."

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.

Bayer Properties Incorporated is a privately held, 20-year-old development, management, leasing, tenant representation and brokerage firm based in Birmingham, Alabama.