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 April5, 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 a second
amendment to the Credit Agreement (the Amendment) to which the
Credit Agreement was amended to, among other things, (a)reduce
the top level applicable margin for LIBOR loans from 2.75% to
2.0% and the top level applicable margin for ABR loans from 1.75%
to 1.0% with respect to $150.8million in aggregate principal
amount of Term A Facility loans held by consenting lenders and
all $685.0million in revolving loan commitments and (b)provide
that the financial maintenance covenant related to Consolidated
Total Leverage Ratio would be computed after subtracting
unrestricted cash from the debt calculation.
The foregoing summary of the Amendment is not intended to be
complete and is qualified in its entirety by reference to the
full text of the Amendment, copies of which is attached hereto as
Exhibit 10.1 and incorporated herein by reference.
| Item9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
|
ExhibitNumber |
Description |
|
| 10.1 |
Second Amendment to Credit Agreement dated as of April5, 2017, by and among Station, the other Station Parties, the lenders party thereto, and Deutsche Bank AG Cayman Islands Branch, as administrative agent. |
2
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 +0.08 at 22.08 with 318,023 shares trading hands.
