Red Rock Resorts Inc Stock Price, News & Analysis

Red Rock Resorts (RRR) announced a modified Dutch Auction tender offer to repurchase up to $350,000,000 of its Class A Common Stock, with a purchase price range set between $46.00 and $53.00 per share. The offer begins November 10, 2021, and expires at midnight on December 9, 2021. In addition, a special cash dividend of $3.00 per share has been declared, payable on December 22, 2021, to shareholders of record as of November 23, 2021. This strategy aims to return value to shareholders and efficiently utilize available cash.

Red Rock Resorts (NASDAQ: RRR) reported robust financial results for Q3 2021, with net revenues reaching $414.8 million, a 17% increase year-over-year. Net income soared to $117.9 million, marking a 64% rise from the previous year. Adjusted EBITDA also climbed by 15% to $184.5 million. Notably, Las Vegas operations contributed $412.7 million in revenues, up 29%. The company enhanced its share repurchase program, increasing it from $150 million to $300 million, with over $173 million available for repurchases.

Red Rock Resorts, Inc. (NASDAQ: RRR) is set to release its third quarter 2021 financial results on November 2, 2021, followed by a conference call at 4:30 p.m. ET. Participants can dial in starting at 4:15 p.m. ET to discuss the results, and a live audio webcast will also be available. A replay of the call will be accessible until November 9, 2021. Red Rock Resorts operates various entertainment and gaming properties in Las Vegas, including Red Rock Casino Resort Spa and Green Valley Ranch Resort Spa Casino.

Red Rock Resorts (NASDAQ: RRR) has announced the redemption of $280,333,000 in 5.000% senior notes due 2025, following a notice issued by Station Casinos LLC. The company plans to utilize cash reserves and borrowings from its revolving credit facility to cover the redemption premium, accrued interest, and associated costs. This action reflects Station Casinos' ongoing financial management as it continues to operate its array of gaming and entertainment properties in Las Vegas.

Red Rock Resorts reported Q2 2021 financial results, showing a significant recovery from the COVID-19 pandemic. Net revenues reached $428.2 million, a 295% increase from $108.5 million in Q2 2020, though down 11% from $482.9 million in Q2 2019. Net income was $143.4 million, improving from a loss of $118.4 million year-over-year. Adjusted EBITDA surged to $210.2 million, up from a negative $17.3 million in 2020, yet increased only 82% compared to 2019. The company ended Q2 2021 with $91 million in cash against $2.7 billion in debt.

Red Rock Resorts, Inc. (NASDAQ: RRR) is set to release its financial results for the second quarter of 2021 on July 28, 2021. The company will host a conference call at 4:30 p.m. ET on the same day to discuss the results, featuring prepared remarks and a Q&A session. Interested participants can join by calling in 15 minutes earlier, with options for both domestic and international dialing. A replay of the call will be available until August 4, 2021. Red Rock Resorts manages Station Casinos, a key provider of gaming in Las Vegas.

Red Rock Resorts (NASDAQ: RRR) reported its Q1 2021 financial results, revealing net revenues of $352.6 million, a 6.6% decline from $377.4 million in Q1 2020, largely due to COVID-19 impacts. The company experienced a net loss of $106.6 million, an improvement from a loss of $177.8 million in Q1 2020. However, Adjusted EBITDA rose significantly to $156.6 million, marking a 110.8% increase year-over-year. Notably, Red Rock announced plans to sell the Palms Casino Resort for $650 million, pending regulatory approvals. The company's cash and equivalents stood at $117.9 million against $2.9 billion in total debt.

Red Rock Resorts has entered into a definitive agreement to sell the Palms Casino Resort to a subsidiary of the San Manuel Band of Mission Indians for $650 million in cash, pending regulatory approvals. This strategic divestiture aims to streamline operations and enhance financial flexibility. Financial advisement for Red Rock is provided by Deutsche Bank Securities Inc., with legal representation from Milbank LLP. This transaction reflects Red Rock's commitment to focus on its core regional gaming and entertainment business.

Red Rock Resorts (NASDAQ: RRR) has announced that it will release its financial results for Q1 2021 on May 4, 2021. A conference call will follow at 4:30 p.m. ET to discuss these results, including prepared remarks and a Q&A session. Interested participants can join by dialing in or via a live audio webcast at the company's website. The call will also be available for replay until May 11, 2021.