Red Rock Resorts is a second-class gaming Ipo, argues Unite Here analysis

Investors who buy Red Rock’s second-class shares on offer will gain a minority stake in the once-bankrupt Las Vegas casino and tavern operator, Station Casinos. “It is alarming that potential investors in Red Rock’s second-class IPO are being asked to buy out an insider management company at a high, $460-million valuation, instead of paying down company debt or funding new growth initiatives,” said Ken Liu, a Las Vegas-based gaming analyst for UNITE HERE.

Special credit to topix.com

The Daily Payoff
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