https://www.rrripodissected.org/wp-content/uploads/iStock-1142651050-1-scaled-e1612744587606.jpg 600 860 Jason Kordosky /wp-content/uploads/stationipodissected7.png Jason Kordosky2021-02-08 07:55:422021-04-28 22:32:16Why 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?
https://www.rrripodissected.org/wp-content/uploads/Employee-Benefits-Sign.jpg 482 724 Ken Liu /wp-content/uploads/stationipodissected7.png Ken Liu2020-03-09 23:47:002020-03-09 23:55:48New Costs to Pressure Margins at Station Casinos
In December, Station Casinos announced a company-wide new benefits…
https://www.rrripodissected.org/wp-content/uploads/las-vegas-1563727930M8I.jpg 1711 1920 Ken Liu /wp-content/uploads/stationipodissected7.png Ken Liu2019-12-20 21:00:442019-12-22 01:54:25Red 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?
https://www.rrripodissected.org/wp-content/uploads/LONIAN1.jpg 1673 3600 Jason Kordosky /wp-content/uploads/stationipodissected7.png Jason Kordosky2019-12-20 20:00:382019-12-26 21:18:00Amidst 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.
https://www.rrripodissected.org/wp-content/uploads/money-4418858_1920.jpg 1371 1920 Ken Liu /wp-content/uploads/stationipodissected7.png Ken Liu2019-12-20 19:00:552019-12-21 08:56:14How 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.
https://www.rrripodissected.org/wp-content/uploads/disclosure-dilemma_880-x-400.jpg 400 880 Jason Kordosky /wp-content/uploads/stationipodissected7.png Jason Kordosky2019-05-01 16:20:502019-05-01 16:22:03Fertitta 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.