{"id":243065,"date":"2022-11-14T18:08:58","date_gmt":"2022-11-15T00:08:58","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=243065"},"modified":"2022-11-14T18:47:45","modified_gmt":"2022-11-15T00:47:45","slug":"red-rock-delivers-special-dividend-of-1-per-share","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/red-rock-delivers-special-dividend-of-1-per-share\/","title":{"rendered":"Red Rock Resorts Paying $1 Per Share Special Dividend"},"content":{"rendered":"

Red Rock Resorts (NASDAQ: RRR) announced\u00a0 today it\u2019s paying a one-off dividend of $1 per share to investors.<\/p>\n

\"Red
Red Rock Resort in Summerlin, Nevada. The operator is paying a special dividend. (Image: YouTube)<\/figcaption><\/figure>\n

The special payout will be paid on Dec. 9 to shareholders of record as of the close of business Nov. 30.<\/p>\n

Prior to the payment of such dividend, Station Holdco LLC (“Station Holdco”) will make a cash distribution to all unit holders of record, including the Company, of $1.00 per unit for a total distribution of approximately $108.1 million, approximately $62.1 million of which is expected to be distributed to the Company and approximately $46.0 million of which is expected to be distributed to the other unit holders of record of Station Holdco,\u201d<\/strong> according to a statement issued by the gaming company.<\/p><\/blockquote>\n

The special dividend is in addition to the casino operators regular annual payout of $1 a share. Red Rock yielded 2.27% as of the close of US markets today.<\/p>\n

Red Rock Reliable Shareholder Rewards<\/h2>\n

Shareholder rewards, including both buybacks and dividends, were largely paused in the gaming industry in 2020 due to the coronavirus pandemic. But there\u2019s been a modest recovery since then.<\/p>\n

\n

Red Rock is a leader on that front. It paid a $3 a share<\/a> special dividend last year and has been one of the most aggressive buyers of its own stock in the gaming industry.<\/p>\n<\/div>\n

Special dividends are one-off payments to investors and offer companies flexibility, because those payouts aren\u2019t delivered quarterly, as is the case with traditional distributions by domestic companies. There is some precedent for special payouts in the gaming industry. For example, Wynn Resorts (NASDAQ:WYNN) delivered such distributions earlier this century when Steve Wynn was still at the helm of the operator. Gaming and Leisure Properties (NASDAQ:GLPI) delivered a one-off distribution<\/a> last year as well.<\/p>\n

Still, dividends and payout growth are hard to come by in the gaming industry. Among casino operators, Red Rock and rival Boyd Gaming (NYSE:BYD)<\/a> are among the only ones recently showing a commitment to paying and growing cash distributions.<\/p>\n

Red Rock Has Resources to Support Dividend<\/h2>\n

It\u2019s one thing for a company to pay a dividend. But it\u2019s more important for the firm to have the resources to support and grow the payout. Red Rock checks those boxes.<\/p>\n

With plans to double its Las Vegas footprint by 2030, the operator could boost earnings before interest, taxes, depreciation, and amortization (EBITDA) by 70%, according to analysts, indicating long-term dividend growth is a possibility.<\/strong><\/p>\n

In addition to its namesake venue in Summerlin and Green Valley Ranch in Henderson, Red Rock operates multiple gaming properties under the Station brand<\/a> throughout the Las Vegas area. The company also runs 10 Wildfire casinos, including seven in Henderson, according to its website.<\/p>\n","protected":false},"excerpt":{"rendered":"

Red Rock Resorts (NASDAQ: RRR) announced\u00a0 today it\u2019s paying a one-off dividend of $1 per share to investors. The special payout will be paid on Dec. 9 to shareholders of record as of the close of business Nov. 30. Prior to the payment of such dividend, Station Holdco LLC (“Station Holdco”) will make a cash […]<\/p>\n","protected":false},"author":46,"featured_media":243066,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810],"tags":[81903,81898],"acf":[],"yoast_head":"\nRed Rock Delivers Special Dividend Of $1 Per Share<\/title>\n<meta name=\"description\" content=\"For second straight year, Red Rock pays special dividend.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/red-rock-delivers-special-dividend-of-1-per-share\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Red Rock Delivers Special Dividend Of $1 Per Share\" \/>\n<meta property=\"og:description\" content=\"For second straight year, Red Rock pays special dividend.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/red-rock-delivers-special-dividend-of-1-per-share\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-15T00:08:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-15T00:47:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/RRR.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/red-rock-delivers-special-dividend-of-1-per-share\/\",\"url\":\"https:\/\/www.casino.org\/news\/red-rock-delivers-special-dividend-of-1-per-share\/\",\"name\":\"Red Rock Delivers Special Dividend Of $1 Per Share\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/red-rock-delivers-special-dividend-of-1-per-share\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/red-rock-delivers-special-dividend-of-1-per-share\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/RRR.jpg\",\"datePublished\":\"2022-11-15T00:08:58+00:00\",\"dateModified\":\"2022-11-15T00:47:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"For second straight year, Red Rock pays special dividend.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/red-rock-delivers-special-dividend-of-1-per-share\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/red-rock-delivers-special-dividend-of-1-per-share\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/red-rock-delivers-special-dividend-of-1-per-share\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/RRR.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/RRR.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Red Rock Resort in Summerlin, Nevada. 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