UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. | Other Events. |
On May 1, 2020, Station Casinos LLC (the “Company”), a consolidated subsidiary of Red Rock Resorts, Inc. issued a press release announcing a phased reopening program with respect to its Las Vegas properties. The press release also announced that the Company was making staffing reductions in light of the continuing closure of the Company’s properties and the reopening program. The press release is filed herewith as Exhibit 99.1 and is incorporated herein in its entirety by reference.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, without limitation, statements regarding our expectations, hopes or intentions regarding the future. These forward looking statements can often be identified by their use of words such as “will”, “might”, “predict”, “continue”, “forecast”, “expect”, “believe”, “anticipate”, “outlook”, “could”, “would”, “target”, “project”, “intend”, “plan”, “seek”, “estimate”, “pursue”, “should”, “may” and “assume”, or the negative thereof, as well as variations of such words and similar expressions referring to the future. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. Factors that could cause actual results to differ include (without limitation) the ongoing uncertainty about COVID-19, its duration and impact, the closure, and length of closure of our properties, the impact of COVID-19 and resulting changes in economic conditions on consumer confidence and visitation to our properties, our ability to adapt to new operating procedures upon re-opening of our casinos, the impact of actions that we have undertaken to reduce costs to mitigate the effects of the COVID-19 pandemic on our business and the cost to comply with any mandated health requirements associated with the virus. Additional factors are discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and in the Company’s other current and periodic reports filed from time to time with the Securities and Exchange Commission. All forward-looking statements in this document are made based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits. The following exhibit is being filed herewith this Current Report on Form 8-K.
Exhibit |
Description | |||
99.1 |
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104 |
Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
RED ROCK RESORTS, INC. | ||||||
Date: May 4, 2020 |
By: |
/s/ Stephen L. Cootey | ||||
Stephen L. Cootey | ||||||
Executive Vice President, Chief Financial Officer and Treasurer |
Exhibit 99.1
STATION CASINOS LLC ANNOUNCES PHASED REOPENING PROGRAM
LAS VEGAS, May 1, 2020 /PRNewswire/ Station Casinos LLC (the Company), a consolidated subsidiary of Red Rock Resorts, Inc., today announced a phased reopening program with respect to its Las Vegas properties, all of which have been closed since March 17, 2020 as a result of a statewide directive issued by Nevada Governor Steve Sisolak. The Company announced that it expects to reopen its Red Rock, Green Valley Ranch, Santa Fe Station, Boulder Station, Palace Station and Sunset Station properties, together with its Wildfire division properties, when permitted to do so by governmental authorities. The Company also announced that it will assess the performance of the first-to-reopen properties before reopening its Palms, Texas Station, Fiesta Henderson and Fiesta Rancho properties.
In connection with the phased reopening plan and in anticipation of the impact that state-mandated occupancy and social distancing restrictions will have on business levels, the Company also announced that it is making staffing reductions at all ten of its large properties and at its corporate office. The reductions affect approximately 39% of its full-time workforce. All affected team members will receive regular pay through May 16, 2020, as previously announced, and will continue to receive their health, dental and vision benefits through September 30, 2020, with the Company paying 100% of the cost of such benefits. This has been the most painful and challenging situation in our Companys history, said Richard J. Haskins, President of the Company. We are hopeful though that Las Vegas will rebound swiftly and allow us to rehire as many of our valued team members as possible when we emerge on the other side of this crisis.
About Station Casinos
Station Casinos LLC is the leading provider of gaming and entertainment to the residents of Las Vegas, Nevada. Station Casinos properties, which are located throughout the Las Vegas valley, are regional entertainment destinations and include various amenities, including numerous restaurants, entertainment venues, movie theaters, bowling and convention/banquet space, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering. Station Casinos owns and operates Red Rock Casino Resort Spa, Green Valley Ranch Resort Spa Casino, Palms Casino Resort, Palace Station Hotel & Casino, Boulder Station Hotel & Casino, Sunset Station Hotel & Casino, Santa Fe Station Hotel & Casino, Texas Station Gambling Hall & Hotel, Fiesta Rancho Casino Hotel, Fiesta Henderson Casino Hotel, Wildfire Rancho, Wildfire Boulder, Wild Wild West Gambling Hall & Hotel, Wildfire Sunset, Wildfire Valley View, Wildfire Anthem and Wildfire Lake Mead. Station Casinos also owns a 50% interest in Barleys Casino & Brewing Company, Wildfire Casino & Lanes and The Greens. In addition, Station Casinos is the manager of Graton Resort & Casino in northern California.
CONTACT:
Stephen L. Cootey
Stephen.Cootey@redrockresorts.com
(702) 495-4214
Rodney S. Atamian
Rod.Atamian@redrockresorts.com
(702) 495-3411
Document and Entity Information |
May 01, 2020 |
---|---|
Cover [Abstract] | |
Amendment Flag | false |
Entity Central Index Key | 0001653653 |
Document Type | 8-K |
Document Period End Date | May 01, 2020 |
Entity Registrant Name | RED ROCK RESORTS, INC. |
Entity Incorporation State Country Code | DE |
Entity File Number | 001-37754 |
Entity Tax Identification Number | 47-5081182 |
Entity Address, Address Line One | 1505 South Pavilion Center Drive |
Entity Address, City or Town | Las Vegas |
Entity Address, State or Province | NV |
Entity Address, Postal Zip Code | 89135 |
City Area Code | 702 |
Local Phone Number | 495-3000 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Class A Common Stock, $.01 par value |
Trading Symbol | RRR |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
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