Business
Red Rock Resorts, Inc. Announces Agreement with a San Manuel Band of Mission Indians Subsidiary to Sell the Palms Casino Resort
LAS VEGAS, May 4, 2021 /PRNewswire/ -- Red Rock Resorts, Inc. (NASDAQ: RRR) ("Red Rock" or the "Company") today announced a definitive agreement between its
About this update from Red Rock Resorts, Inc.
[{"type":"text","content":"LAS VEGAS, May 4, 2021 /PRNewswire/ -- Red Rock Resorts, Inc. (NASDAQ: RRR) (\"Red Rock\" or the \"Company\") today announced a definitive agreement between its subsidiary Station Casinos LLC and a subsidiary of the San Manuel Band of Mission Indians (\"San Manuel\") to sell the Palms Casinos Resort for $650 million in cash, subject to customary adjustments. \nThe transaction is subject to regulatory approvals and other customary closing conditions. \nMilbank LLP represented Red Rock and Deutsche Bank Securities Inc. is acting as financial advisor to Red Rock on the transaction. Latham & Watkins LLP represented San Manuel and Jefferies LLC is acting as financial advisor to San Manuel on the transaction. \nAbout Station CasinosStation Casinos LLC 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, Palms Casino Resort, Palace Station Hotel & Casino, Boulder Station Hotel & Casino, Sunset Station Hotel & Casino, Santa Fe Station Hotel & Casino, Texas Station Gambling Hall & Hotel, Fiesta Rancho Casino Hotel, Fiesta Henderson Casino Hotel, 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 a 50% interest in Barley's Casino & Brewing Company, Wildfire Casino & Lanes and The Greens. In addition, Station Casinos was the manager of Graton Resort & Casino in northern California until February 2021.\nForward-Looking StatementsThis press release contains certain forward-looking statements with respect to the Company and its subsidiaries which involve risks and uncertainties that cannot be predicted or quantified, and consequently, actual results may differ materially from those expressed or implied herein. Such risks and uncertainties include, but are not limited to (a) the timing to consummate ...