https://www.rrripodissected.org/wp-content/uploads/Stamped-Proxy-Card-2018-1.png 432 622 Jason Kordosky /wp-content/uploads/stationipodissected7.png Jason Kordosky2018-06-08 20:58:492018-06-08 21:09:38Withhold the Vote 2018: Failure to Sunset Perpetual Dual-Class Stock
We encourage Red Rock Resorts shareholders to withhold authority to vote on their proxy card for the company’s board of directors – Frank J. Fertitta III, Lorenzo J. Fertitta, Robert A. Cashell, Jr., Robert E. Lewis, and James E. Nave, D.V.M. – at the upcoming annual stockholders meeting on June 14.
https://www.rrripodissected.org/wp-content/uploads/survey.jpg 800 1200 Ken Liu /wp-content/uploads/stationipodissected7.png Ken Liu2017-12-06 23:30:572017-12-13 22:55:31Selected Results: 2017 Corporate Governance Survey of Red Rock Shareholders
The results of our survey reveal shareholder respondents expressed consensus for a hybrid format for the annual general meeting, took issue with the dual-class capital structure and other takeover defenses, and shared their preference for a more diverse board, an independent board chair, and their doubt regarding shareholder representation on the board.
https://www.rrripodissected.org/wp-content/uploads/iStock_000007105837_Small_life-jackets-e1510256606518.jpg 397 800 Ken Liu /wp-content/uploads/stationipodissected7.png Ken Liu2017-11-09 10:30:392017-11-10 18:02:04Baron's Sunk Cost Trap: Red Rock Resorts
Red Rock’s shares have underperformed both the market and its peers, year-to-date. Baron’s efforts to double down on Red Rock’s stagnant stock suggest its stock pickers have fallen into a sunk cost trap, unwilling to recognize the opportunity cost they’ve incurred by putting millions more of their clients’ money in RRR over the past year.
https://www.rrripodissected.org/wp-content/uploads/RRR-Stock-1-3-17-to-9-29-17_700x.png 345 700 Ken Liu /wp-content/uploads/stationipodissected7.png Ken Liu2017-10-09 23:03:322017-10-10 00:06:53Opportunity Cost: The Case of Cohen & Steers’ Investment in Red Rock Resorts
Cohen & Steers, Inc. (NYSE: CNS) filed a Schedule 13G on December 12, 2016, announcing its beneficial ownership (at the time 15.94% of Class A shares) in Red Rock Resorts. This was an interesting move by Cohen & Steers, which is often praised as the “king of REITs” and self-described as “pioneers in REIT investing.”
https://www.rrripodissected.org/wp-content/uploads/iStock_000001257818_Small.jpg 565 849 Ken Liu /wp-content/uploads/stationipodissected7.png Ken Liu2017-09-29 18:23:422017-09-29 18:31:44The Palms Conundrum
What is Station Casinos doing with Palms? The company has committed nearly half a billion dollars to the property. What kind of management experience can Station bring to Palms? Does Station have the management know-how to operate an almost-Strip property like Palms?
https://www.rrripodissected.org/wp-content/uploads/magnifier-1714172_960_720.jpg 639 960 Ken Liu /wp-content/uploads/stationipodissected7.png Ken Liu2017-09-28 22:32:472017-09-29 01:30:35Law Firms Announce Investigations into Red Rock Resorts
Six law firms have announced investigations into Red Rock Resorts following the company’s annual meeting in July, when shareholders showed their dissatisfaction with the company’s directors.