Red Rock Resorts launches $350M tender offer, $3 special dividend; Station Casinos plans $500M notes offering

Red Rock Resorts, Inc.

Modified Dutch Auction tender to buy up to $350M of Class A common stock at $46-$53 per share; expires Dec 9, 2021.
Special cash dividend of $3.00 per share with Nov 23 record date and Dec 22 payment date; tendered shares also eligible.
Subsidiary Station Casinos LLC intends to offer $500M aggregate principal of senior notes due 2031 in private placement.
Proceeds from notes and revolver borrowings will fund ~$344M distribution to parent RRR and help pay for share tender costs.
Closing price on Nov 9 was $48.99; tender offer price range brackets that level.

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