Red Rock Resorts, Inc. (NASDAQ:RRR) was founded in 1976, formerly known as Station Casinos Corporate, headquartered in Las Vegas, Nevada, and 11800 full-time employees (3/31/2016). A leading integrated company integrating gaming, development, management, entertainment and hotels, with 21 strategic casinos and entertainment assets under its umbrella.
Red Rock Resorts, Inc. (RRR):
Red Rock Resorts started in 1976, starting from a 5000 square foot casino with 100 slot machines, through continuous development and acquisitions, it has now developed more than 5 billion US dollars in regional gaming and entertainment facilities, and is recognized as a gaming leader in the United States. It also manages entertainment and hotel assets in northern California and western Michigan, and has developed into a major player in the gaming and entertainment industry in the Las Vegas area.
As of March 31, 2016, Red Rock Resorts Las Vegas’ asset portfolio includes nine gaming and entertainment facilities, and ten small casinos (three of which have 50% equity), providing customers with approximately 19,300 slot machines. 300 gaming tables and 4000 hotel rooms.
Red Rock Resorts’ casinos and facilities are widely distributed and convenient transportation. 90% of Las Vegas residents can find an RRR venue within 5 miles. The company provides convenient and diverse gaming and non-gaming entertainment options. Attracting guests to play in its venues, RRR provides friendly service and excellent value in a comfortable environment.
In addition to the above nine venues, Red Rock Resorts also controls about 398 acres in Las Vegas and Reno, Nevada, of seven highly desirable gaming plots called development land.
As of December 31, 2015, Red Rock Resorts increased its adjusted EBITDA by 13.1% compared to the same period last year (as of December 31, 2014). The adjusted EBITDA margin increased to 33.4% by 250 basis points. Revenue from continuing operations increased by 9.4%.
Red Rock Resorts, Inc. (RRR) investment:
Red Rock Resorts, Inc. submitted its IPO prospectus on 10/13/2015 and landed on Nasdaq on 4/27/2016. The issue price was US$18.50, and 27.25 million shares were issued, raising US$658 million. Stock code: RRR .