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RRR Stock Price Correlated With Red Rock Resorts Financials
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Income Statement
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RRR Income Statement
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RRR Balance Sheet
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COMPANY PROFILE
Organization and Background Red Rock Resorts, Inc. (“Red Rock,” or the “Company”) was formed as a Delaware corporation in 2015 to own an indirect equity interest in and manage Station Casinos LLC (“Station LLC”), a Nevada limited liability company. Station LLC is a gaming, development and management company established in 1976 that owns and operates nine major gaming and entertainment facilities and ten smaller casino properties (three of which are 50% owned) in the Las Vegas regional market.
The Company owns all of the outstanding voting interests in Station LLC and has an indirect equity interest in Station LLC through its ownership of limited liability interests in Station Holdco LLC (“Station Holdco,” and such interests, “LLC Units”), which owns all of the economic interests in Station LLC. At December 31, 2021, the Company held 58% of the economic interests and 100% of the voting power in Station Holdco, subject to certain limited exceptions, and is designated as the sole managing member of both Station Holdco and Station LLC. The Company controls and operates all of the business and affairs of Station Holdco and Station LLC, and conducts all of its operations through these entities.
Impact of the COVID-19 Pandemic
During 2020, the global pandemic caused by a new strain of coronavirus (“COVID-19”) had a detrimental impact on the United States and Las Vegas economies and negatively impacted the Company’s business. All of the Company’s Las Vegas properties were temporarily closed on March 17, 2020 in compliance with a statewide emergency order mandating the closure of Nevada casinos. On June 4, 2020, the Company reopened its Red Rock, Green Valley Ranch, Santa Fe Station, Boulder Station, Palace Station and Sunset Station properties, as well as its Wildfire properties, subject to state-mandated occupancy and other operational restrictions. At December 31, 2021, the Texas Station, Fiesta Henderson and Fiesta Rancho properties had not reopened. The Company will continue to assess the performance of its open properties, as well as the Las Vegas market and the economy as a whole, before considering whether to reopen some or all of the remaining properties. The Company has no current plans to reopen any of these properties in 2022.
While the COVID-19 pandemic is ongoing, many of the state-mandated occupancy and other operational restrictions that were first imposed in March 2020 were lifted as of June 1, 2021. Certain operational restrictions continued, including a rule added in late July 2021 requiring all employees and guests to wear face coverings while indoors in public spaces, which was lifted on February 10, 2022. As a result of the pandemic, the temporary closure of all of the Company’s properties from March 17, 2020 through June 3, 2020 and the ongoing closure of three of its properties, the Company’s operating results for the year ended December 31, 2021 are not comparable with those of the prior years presented.
A subsidiary of Station LLC managed Graton Resort, a casino in northern California, on behalf of a Native American tribe through February 5, 2021. The property was temporarily closed from March 17, 2020 through June 17, 2020 as a result of the COVID-19 pandemic. The management agreement was originally expected to expire in November 2020 but was extended as a result of the pandemic through February 5, 2021, when the Native American tribe terminated the Company’s management role at the facility. Whether the management agreement provided for an additional extension beyond that date is in dispute.
The Company owns all of the outstanding voting interests in Station LLC and has an indirect equity interest in Station LLC through its ownership of limited liability interests in Station Holdco LLC (“Station Holdco,” and such interests, “LLC Units”), which owns all of the economic interests in Station LLC. At December 31, 2021, the Company held 58% of the economic interests and 100% of the voting power in Station Holdco, subject to certain limited exceptions, and is designated as the sole managing member of both Station Holdco and Station LLC. The Company controls and operates all of the business and affairs of Station Holdco and Station LLC, and conducts all of its operations through these entities.
Impact of the COVID-19 Pandemic
During 2020, the global pandemic caused by a new strain of coronavirus (“COVID-19”) had a detrimental impact on the United States and Las Vegas economies and negatively impacted the Company’s business. All of the Company’s Las Vegas properties were temporarily closed on March 17, 2020 in compliance with a statewide emergency order mandating the closure of Nevada casinos. On June 4, 2020, the Company reopened its Red Rock, Green Valley Ranch, Santa Fe Station, Boulder Station, Palace Station and Sunset Station properties, as well as its Wildfire properties, subject to state-mandated occupancy and other operational restrictions. At December 31, 2021, the Texas Station, Fiesta Henderson and Fiesta Rancho properties had not reopened. The Company will continue to assess the performance of its open properties, as well as the Las Vegas market and the economy as a whole, before considering whether to reopen some or all of the remaining properties. The Company has no current plans to reopen any of these properties in 2022.
While the COVID-19 pandemic is ongoing, many of the state-mandated occupancy and other operational restrictions that were first imposed in March 2020 were lifted as of June 1, 2021. Certain operational restrictions continued, including a rule added in late July 2021 requiring all employees and guests to wear face coverings while indoors in public spaces, which was lifted on February 10, 2022. As a result of the pandemic, the temporary closure of all of the Company’s properties from March 17, 2020 through June 3, 2020 and the ongoing closure of three of its properties, the Company’s operating results for the year ended December 31, 2021 are not comparable with those of the prior years presented.
A subsidiary of Station LLC managed Graton Resort, a casino in northern California, on behalf of a Native American tribe through February 5, 2021. The property was temporarily closed from March 17, 2020 through June 17, 2020 as a result of the COVID-19 pandemic. The management agreement was originally expected to expire in November 2020 but was extended as a result of the pandemic through February 5, 2021, when the Native American tribe terminated the Company’s management role at the facility. Whether the management agreement provided for an additional extension beyond that date is in dispute.
Free historical financial statements for Red Rock Resorts Inc.. See how revenue, income, cash flow, and balance sheet financials have changed over 31 quarters since 2016. Compare with RRR stock chart to see long term trends.
Data imported from Red Rock Resorts Inc. SEC filings. Check original filings before making any investment decision.