SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 19, 2005
STATION CASINOS, INC
(Exact name of registrant as specified in its charter)
Nevada 000-21640 88-0136443
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
2411 West Sahara Avenue, Las Vegas, Nevada 89102
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (702) 367-2411
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N/A
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(Former name or former address, if changed since last report)
ITEM 8.01 OTHER EVENTS
Gun Lake Tribe
Pursuant to a Memorandum dated April 18, 2005, the Office of the
Secretary of the United States Department of the Interior (the "DOI") authorized
the conveyance of approximately 145 acres of fee land located on Highway 131
near 129th Avenue, approximately 25 miles north of Kalamazoo, Michigan (the
"Property"), into trust for the Match-E-Be-Nash-She-Wish Band of Pottawatomi
Indians, a federally recognized Native American tribe commonly referred to as
the Gun Lake Tribe ("Gun Lake"), subject to the publication of notice and
expiration of the 30-day waiting period required by law.
As previously disclosed in its Annual Report on Form 10-K for the year
ended December 31, 2004, Station Casinos, Inc. (the "Company") owns a 50%
interest in MPM Enterprises, LLC, a Michigan limited liability company ("MPM").
MPM and Gun Lake are parties to amended and restated development and management
agreements, each dated as of November 13, 2003, pursuant to which MPM will
assist Gun Lake in developing and operating a gaming and entertainment project
to be located on the Property. The amended management agreement provides for a
term of seven years from the opening of the facility and provides for a
management fee of 30% of the project's net income. Pursuant to the terms of
MPM's amended and restated operating agreement, the Company's portion of that
management fee is 50% of the first $24 million of management fees earned, 83% of
the next $24 million of management fees and 93% of any management fees in excess
of $48 million.
The proposed project, as currently contemplated, would include up to
2,500 slot machines, 75 table games, a buffet and specialty restaurants.
Construction of the project includes the conversion of an existing
192,000-square foot building into the casino and entertainment facility.
Development of the proposed project and operation of Class III gaming are
subject to certain governmental and regulatory approvals, including, but not
limited to, the governor of the State of Michigan signing Gun Lake's state
gaming compact, the DOI completing the process of taking the land into trust on
behalf of Gun Lake and approval of the management agreement by the National
Indian Gaming Commission. No assurances can be given as to when, or if these
government and regulatory approvals will be received.
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Station Casinos, Inc.
Date: April 20, 2005 By: /s/ Glenn C. Christenson
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Glenn C. Christenson
Executive Vice President, Chief
Financial Officer, Chief Administrative
Officer and Treasurer