Benzinga | Nov 10, 2021 11:43AM EST

Red Rock Resorts Subsidiary To Raise $500M Via Debt Offering

* Red Rock Resorts Inc's (NASDAQ:RRR) subsidiary, Station Casinos LLC, intends to offer $500 million of senior notes due 2031 through a private offering.

* The company intends to use offering net proceeds, together with borrowings, to make a distribution of $344 million to holders of outstanding limited liability company interests, to pay the purchase price for shares of Class A Common Stock tendered in the offer to purchase up to $350 million of its Class A Common Stock, and for general corporate purposes.

* Price Action: RRR shares are trading higher by 6.12% at $51.99 on the last check Wednesday.