Milbank, Tweed, Hadley & McCloy LLP represented Station Casinos LLC, a subsidiary of Red Rock Resorts, Inc. (NYSE: RRR), in an offering of $550 million in aggregate principal amount of its 5% Senior Notes due October 1, 2025. The net proceeds of the sale of the Notes were used by the Company to refinance existing indebtedness, as well as for general corporate purposes. In connection with the bond offering, Station LLC also amended its $2.8 billion senior credit facility to extend the maturity, increase the borrowings and availability, and modify the covenants.
Station Casinos LLC is the leading provider of gaming and entertainment to the residents of Las Vegas, Nevada. Station Casinos’ properties, which are located throughout the Las Vegas valley, 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.
The Milbank team advising on the transactions included Corporate partners Ken Baronsky and Deborah Conrad; of counsel David Isenberg; associates Jason Anderson, Jack Goodfriend and Chris West and Tax partner Andrew Walker.
