The Fertitta Brothers will have to wait on an IPO that will provide them with a financial windfall. Due to stock market conditions, the Red Rock Resorts (RRR) IPO will hold off going public for now.
According to the New York Post, Deutsche Bank delayed the IPO from going public on Thursday. Deutsche Bank holds a 25 percent stake in the offering.
The newly formed Red Rock Resorts IPO will buyout Fertitta Entertainment, the management company which runs Station Casinos. The Fertittas own 57 percent of Stations Casino. The IPO will net $460 million for the management company.
Last week, the Nevada Gaming Control Board signed off on the deal which would allow Stations Casinos to become a public company traded on the NASDAQ under the name Red Rock Resorts with RRR as its symbol. I’m sure it was not done for “Rowdy” Ronda Rousey.
With the stock market in flux, the decision to go public was held off.
Payout Perspective:
Despite a slight turn for the better recently which included Facebook (another company trading on the NASDAQ) recording solid profits, the decision to forego an IPO this week was a prudent decision. One would expect that they revisit launching its IPO once the markets stabilize. One would think that the IPO happens before the summer.
Hahahaha…need cash fast..finally mmapayout put an article re ipo
No enthusiasm from investors
Smart thinking, that what smart business people do. What so hahahaha about it?
PBC lost $444 million in the last 10 months. That’s scary
You got the bank statements to show that? If not you’re just talking.
E tops sounds serious and angry hahahaha….so emotional throws an exact figure and a 10 month time frame hahaha…
Now i want to know the connection of flash with the whole zuffa and stations
Topps continuing his full court press- hahaha. He’s gotta work overtime because of the record year for the UFC. HAHAHAHA!!!
Fight Fan, even if they didn’t go through that much, there is no question it has been a failure so far. Their ratings have been horrible.
Just read it actually- PBC is 400m in the hole. Hahaha!! Investors gotta be loving that. That’s just in 10 months.
Ipo flash connection needs to be investigated
Is this the reason of the ” momentum” media blitz regarding the ufc 1st qrtr ….last years 600m which turned out to be 500m gross profit..so the fertitas would have an image of a midas touch….hahaha…now with rousey out of 200,cancellation of ppv and the lawsuit…they need to reset
Now with Waddell and Reed’s announcement, Topps is going off the deep end. HAHAHAHA!!!