Red Rock Resorts, Inc. (NASDAQ:RRR) Files An 8-K Entry into a Material Definitive Agreement
Item1.01.
| Entry into a Material Definitive Agreement. |
On May10, 2017, Station Casinos LLC (Station), Red Rock Resorts,
Inc., Station Holdco LLC, the guarantor subsidiaries of Station,
Deutsche Bank AG Cayman Islands Branch, as administrative agent,
and the lenders party to that certain Credit Agreement dated as
of June8, 2016 (the Credit Agreement) entered into that certain
Incremental Joinder Agreement No.3 to the Credit Agreement (the
Joinder) to which the Credit Agreement was amended to, among
other things, increase the Term B loans by $250.0 million to an
aggregate outstanding principal amount of $1.833 billion. Station
applied the proceeds of the incremental Term B borrowings,
together with cash on hand, to pay for the redemption of $250.0
million in aggregate principal amount of its 7.50% Senior Notes
due 2021 (the Notes) and to pay fees and expenses incurred in
connection therewith.
The foregoing summary of the Joinder is not intended to be
complete and is qualified in its entirety by reference to the
full text of the Joinder, a copy of which is attached hereto as
Exhibit 10.1, and is incorporated herein by reference.
| Item2.03. |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information in Item1.01 is incorporated by reference into
this Item2.03.
| Item8.01. | Other Events. |
On May10, 2017, Station redeemed $250.0 million in aggregate
principal amount of its Notes (the Redeemed Notes). The
redemption price was equal to 103.750% of the principal amount of
the Redeemed Notes, plus accrued and unpaid interest to, but not
including, the redemption date. Following the partial redemption
by Station of the Notes, $250.0 million in aggregate principal
amount of Notes remain outstanding.
| Item9.01. | Financial Statements and Exhibits. |
| (d) |
Exhibits |
|
ExhibitNumber |
Description |
|
| 10.1 |
Incremental Joinder Agreement No. 3 dated as of May10, 2017 by and among Station, the guarantors party thereto, Red Rock Resorts, Inc. Station Holdco LLC, each of the Incremental Term B Lenders party thereto and Deutsche Bank AG Cayman Islands Branch, as administrative agent. |
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About Red Rock Resorts, Inc. (NASDAQ:RRR)
Red Rock Resorts, Inc. is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements. It provides gaming and entertainment for residents of the Las Vegas regional market and visitors. Its Las Vegas portfolio includes approximately 10 gaming and entertainment facilities and over 10 smaller casinos, offering approximately 20,300 slot machines, over 350 table games and approximately 4,750 hotel rooms. The Company offers a range of gaming and non-gaming entertainment options. It also controls over seven gaming-entitled development sites consisting of approximately 398 acres in Las Vegas and Reno, Nevada. The Company manages and owns interest in Station Casinos LLC, which is the provider of gaming and entertainment. Red Rock Resorts, Inc. (NASDAQ:RRR) Recent Trading Information
Red Rock Resorts, Inc. (NASDAQ:RRR) closed its last trading session up +0.41 at 23.33 with 731,163 shares trading hands.
