Red Rock Resorts has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). No pricing details were given in the filing, but the offering is valued up to $100 million, although this number is usually just a placeholder. The company intends to list on the Nasdaq under the symbol RRR.
The underwriters for the offering are Deutsche Bank, JPMorgan, Merrill Lynch and Goldman Sachs.
This is a leading gaming, development and management company operating 21 strategically located casino and entertainment properties. It has developed over $5 billion of regional gaming and entertainment destinations in multiple jurisdictions. Additionally, Red Rock Resorts is an established leader in Native American gaming, managing facilities in northern California and western Michigan.
The company began operations in 1976 with a 5,000-square-foot casino featuring 100 slot machines and has grown through development and acquisitions to become a premier provider of gaming and entertainment for residents of the Las Vegas regional market and visitors.
Its Las Vegas portfolio includes nine major gaming and entertainment facilities and ten smaller casinos (three of which are 50% owned), offering roughly 19,500 slot machines, 300 table games and 4,000 hotel rooms. These Las Vegas properties are broadly distributed throughout the market and easily accessible, with over 90% of the Las Vegas population located within five miles of one of its gaming facilities.
Most of the major properties are master-planned for expansion, enabling it to incrementally expand facilities as demand dictates. The company also controls six highly desirable gaming-entitled development sites, consisting of approximately 310 acres in Las Vegas and Reno, Nev.
The company intends to use the net proceeds from the offering to pay a portion of the purchase price for the Fertitta Entertainment Acquisition, acquire newly issued LLC units in Station Holdco and purchase LLC units from certain of its existing owners.
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.