Red Rock Resorts will offer a “special dividend” payable to all shareholders on December 9, 2022. The dividend is for $1.00 per Class A common share.
Stockholders on record as of close of business November 30 will be eligible to receive this payout.
In addition to the special Class A common share dividend, the company’s Board of Directors recently “declared a cash dividend of $0.25 per Class A common share” for this year’s last quarter.
Stockholders of record, as of close of business December 15, 2022, will receive a payout from the dividend on December 30, 2022.
The company said in a statement: “Prior to the payment of such dividend, Station Holdco LLC will make a cash distribution to all unit holders of record, including the Company, of $1.00 per unit for a total distribution of approximately $108.1m, approximately $62.1m of which is expected to be distributed to the company and approximately $46m of which is expected to be distributed to the other unit holders of record of Station Holdco.”
Red Rock Resorts is a holding company that manages and owns an indirect equity interest in Station Casinos LLC.
Station Casinos provides Las Vegas, Nevada residents with gaming, hospitality and entertainment. It owns several properties throughout the Las Vegas valley, and its regional destinations include hotels with several amenities, such as restaurants, entertainment venues, movie theaters, bowling and convention banquet spaces.
Red Rock Resorts recently published its financial results for the first that ended September 30, 2022. The holding company reported an overall net revenue of $414.4m during the third quarter, which held at a flat rate when compared to net revenue during Q2.
