Under a Dutch tender, a somewhat unusual process for share transactions, a company seeks bids for the number of shares and amount an investor is willing to pay. “Accordingly, net-net, we view the transactions favorably and reaffirm our Buy rating.”

“We believe some will view the transaction as a closing of the door on more strategic activity from Red Rock Resorts, though we don’t necessarily believe more aggressive strategic actions were anticipated to begin with,” Santarelli wrote. “We believe the announcement will be well received, as it not only shows the position of strength from a cash-flow and balance-sheet perspective, but also returns capital to shareholders, while leaving the company still well positioned to develop the pipeline,” Carlo Santarelli, a gaming analyst with the New York office of Deutsche Bank, said in a report to investors. It also agreed to pay a $3-per-share dividend to shareholders of record as of Nov. The company agreed to purchase a maximum of $350 million of its common stock in a “modified Dutch auction” process. (Benjamin Hager/Las Vegas Review-Journal) Rock Resorts, parent company of Station Casinos, on Wednesday announced a pair of financial transactions that will return capital to its shareholders. The gaming floor is packed at Red Rock Resort on Wednesday, May 12, 2021, in Las Vegas.