Why did UBS start lending to Fertittas and stop lending to Red Rock? [updated 4.28.21]

Why did UBS end up by lending to the Fertittas personally but not to the public-traded company they controlled? And what caused the Fertittas to take on the margin loan in the first place?

New Costs to Pressure Margins at Station Casinos

In December, Station Casinos announced a company-wide new benefits…

Red Rock Resorts Silent on Sports Betting

Public investors in Red Rock Resorts should ask: Does management have plans to pursue sports betting or other gaming opportunities outside of Nevada? If not, why not?

Amidst chaos at Palms, Fertittas’ UBS margin loan collateral fell 38%

While Red Rock has not disclosed why the Fertittas needed the UBS margin loan in the fall last year, UBS promotes its securities-backed loans as useful for purchasing yachts, among other things.

How much has Palms cost Red Rock Resorts shareholders?

With the Palms project, Red Rock management wiped out $1 billion of shareholder equity. More than $8.00 per share of equity value evaporated because of the Palms project.  

Fertitta Capital’s sports betting deal highlights disclosure dilemma at Red Rock Resorts

Investors in Red Rock Resorts (NASDAQ: RRR) lack the necessary information to know if they lost a business opportunity to Fertitta Capital, the investment firm founded in 2017 and run by Red Rock Resorts controlling owners, according to letters sent by the Culinary Union to the U.S. Securities Exchange Commission (SEC) and NASDAQ Stock Market.