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.
https://www.rrripodissected.org/wp-content/uploads/iStock-red-fish-hooked-880x400.png 400 880 Jason Kordosky /wp-content/uploads/stationipodissected7.png Jason Kordosky2019-04-02 21:39:522019-04-17 17:36:10Who's on the Hook for the Palms?
Red Rock Resorts has set a big ROI target for its Palms Casino Resort. Can they get there? Investors should ask management to set clear markers: who will be held accountable if the post-renovation Palms doesn’t generate the kind of ROI management has projected?
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.”