Station Casinos to Issue $400 Million of 7 3/4% Senior Notes

LAS VEGAS—-Aug. 1, 2006–Station Casinos, Inc. today announced it has agreed to issue $400 million of 7 3/4% senior notes due August 15, 2016. Proceeds from the sale of the notes will be used to reduce a portion of the amounts outstanding on the Company’s revolving credit facility.

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Casino gambling information:

• French mathematician Blaise Pascale is often credited with inventing the roulette wheel as a result of his experiments with perpetual motion machines.
• The famous banker J.P. Morgan once walked out of a Monte Carlo casino because the stakes were too low? At the time, the maximum wager was 12,000 francs and Morgan wanted it increased to 20,000 francs. When the casino manager refused to increase the limit, Morgan left the casino saying "12,000 francs! I have no time to lose such ridiculous amounts."
• Las Vegas in Nevada owes its success to the mobster Benjamin "Bugsy" Siegel who organized gaming and bookmaking operations for The Mob (the Mafia).
• During the 1950s, the Senate Committee to Investigate Organized Crime in Interstate Commerce held a number of hearings on criminal influence in the casino industry. The committee was chaired by Senator Estes Kefauver, and the committee is also known by his name.