Sometimes I listen to earnings calls and find useful information. Today wasn’t one of those days. I’ll share my notes since I took them. I was expecting more from Red Rock Resorts (parent company to Station Casinos) since this was their first call since going public and announcing their intent to buy Palms.
Interest seemed low from the brokerage houses. There were only 3 questions. That’s less than half of what Boyd Gaming received and maybe about 5% of what MGM Resorts receives. Anyway, enjoy.
Palms
Largest non-REIT IPO of the year.
Palms has 1250 slots and 48 table games – no mention of sports book.
Palms is in one of the lowest areas in Las Vegas for Boarding Pass members.
No plans to spend money on Palms today. Will evaluate how to best spend money in future.
View Palms on par with Red Rock and Green Valley Ranch.
Overall
Gaming and non-gaming up. Slots & tables up. No mention of sports.
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