Clarification-- On Red Rock.
RRR-- We already had this for a big gain off the bottom and sold it right about where it is now it has been having a hard time with this price area of $33-$34>
My thesis for selling is actually an interesting one. As more folks start going back to these hotels/casinos, the operators of these resorts are forced to spend more opening parts of the hotel that are closed. So that giant pool & light show that they kept shut down for Covid.. that has to be fired up as well as many other costly extras, more food options, etc. All the amenities that that sets one hotel above the next. During the waning days of the Covid Vegas exodus these Casinos operated at less than 50% occupancy but they cut those extras like crazy they really brought down costs to make their earnings # RRR included.
LAS VEGAS, April 9, 2021 /PRNewswire/ -- Red Rock Resorts, Inc. ("Red Rock Resorts", "we" or the "Company") (NASDAQ: RRR) announced today that it will release the Company's financial results for the first quarter 2021 on Tuesday, May 4, 2021 and will hold a conference call on the same day at 4:30 p.m. ET (1:30 p.m. PT). <------ RRR EARNINGS MAY REFLECT THAT INCREASED SPEND SO WAIT TIL THE REPORT! ~stoney