8-K
Red Rock Resorts, Inc. (RRR)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 15, 2022
RED ROCK RESORTS, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-37754 | 47-5081182 |
|---|---|---|
| (State or other jurisdiction<br> <br>of incorporation) | (Commission<br> <br>File Number) | (IRS Employer<br> <br>Identification No.) |
1505 South Pavilion Center Drive, Las Vegas, Nevada 89135
(Address of principal executive offices)
Registrant’s telephone number, including area code: (702) 495-3000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading<br>Symbol(s) | Name of each exchange<br>on which registered |
|---|---|---|
| Class A Common Stock, $0.01 par value | RRR | NASDAQ Stock Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
On July 15, 2022, Red Rock Resorts, Inc. (the “Company”) announced that it has decided to permanently close its Texas Station, Fiesta Rancho, and Fiesta Henderson properties, which have been closed since the beginning of the pandemic in March 2020.
A copy of the press release announcing permanent closure of the properties is attached as Exhibit 99.1 and is incorporated by reference into this Item 8.01.
Cautionary Note Regarding Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by the Company’s use of the words “may,” “will,” and similar expressions that do not relate to historical matters. All statements other than statements of historical fact are forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors which are, in some cases, beyond the Company’s control and could materially affect actual results, performance, or achievements.
Although the Company believes that in making such forward-looking statements its expectations are based upon reasonable assumptions, such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. The Company cannot assure you that the assumptions upon which these statements are based will prove to have been correct. Important risk factors that may affect the Company’s business, results of operations and financial position are detailed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.
Item 9.01. Financial Statements and Exhibits
| (d) | Exhibits |
|---|
The following material is being furnished as an exhibit to the Current Report on Form 8-K.
| Exhibit Number | Description |
|---|---|
| 99.1 | Press Release dated July 15, 2022. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Red Rock Resorts, Inc. | ||
|---|---|---|
| /s/ Stephen L. Cootey | ||
| Date: July 15, 2022 | ||
| Stephen L. Cootey<br> <br>Executive Vice President, Chief Financial Officer and Treasurer |
EX-99.1
Exhibit 99.1
FOR IMMEDIATE RELEASE
Red Rock Resorts Announces Permanent Closure of Properties
Three Currently-Closed Properties will be Repositioned for Land Sale
LAS VEGAS (July 15, 2022) – Red Rock Resorts, Inc. (“Red Rock Resorts,” “we” or the “Company”) announced today that it has decided to permanently close its Texas Station, Fiesta Rancho, and Fiesta Henderson properties, which have been closed since the beginning of the pandemic. The facilities at these properties (other than the ice rink at Fiesta Rancho, which will remain open) will be demolished to reposition the land for sale.
“These properties have been an important part of our business over many years, so it is not without sadness that we announce these permanent closures. We would like to recognize and thank our former Team Members who worked at these properties for making them a place where our guests always felt welcome. We are pleased that approximately one-third of the Team Members from each of these three properties are already working at another Station Casinos property, and we hope that number will grow. We also want to thank our loyal guests for their support,” said Scott Kreeger, President of Station Casinos. Kreeger added, “While the decision was difficult, throughout our 46-year history, Station Casinos has adapted and grown with the Las Vegas valley. This action will enable the Company to continue reinvesting in our open properties and move more quickly to develop and deliver the next generation of Station Casinos resorts to the residents and visitors of North Las Vegas, Henderson, and the rest of the Las Vegas valley. This strategic focus will create new and exciting amenities for our customers and job opportunities for our valued Team Members and the community.”
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About Red Rock Resorts:
Red Rock Resorts is a holding company that owns an indirect equity interest in and manages Station Casinos LLC (“Station Casinos”). Station Casinos 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. Station Casinos owns and operates Red Rock Casino Resort Spa, Green Valley Ranch Resort Spa Casino, Palace Station Hotel & Casino, Boulder Station Hotel & Casino, Sunset Station Hotel & Casino, Santa Fe Station Hotel & Casino, Wildfire Rancho, Wildfire Boulder, Wild Wild West Gambling Hall & Hotel, Wildfire Sunset, Wildfire Valley View, Wildfire Anthem and Wildfire Lake Mead. Station Casinos also owns Texas Station Gambling Hall & Hotel, Fiesta Rancho Casino Hotel and Fiesta Henderson Casino Hotel, which have been closed since March 2020, and owns a 50% interest in Barley’s Casino & Brewing Company, Wildfire Casino & Lanes and The Greens.
Media:
Michael J. Britt
Michael.Britt@redrockresorts.com
(702) 495-3693