Red Rock Resorts completes $650M sale of Palms Casino Resort to SMGHA Nevada

Red Rock Resorts, Inc.

Closed sale of Palms Casino Resort and Palms Place in Las Vegas on Dec 17, 2021.
Aggregate cash consideration of $650M, net proceeds ~$641M after transaction costs and working capital adjustments.
Pro forma net income for nine months ended Sep 30, 2021: $104.5M vs as-reported $93.2M.
Pro forma net loss for year ended Dec 31, 2020: $91.6M vs as-reported $150.4M loss.
Sale includes elimination of $656.6M in assets held for sale from balance sheet.

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