SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 5.3% Stake in Red Rock Resorts Inc.

FMR LLC and its Chairman and CEO, Abigail P. Johnson, have disclosed a beneficial ownership of 5.3% of Red Rock Resorts Inc.'s Class A Common Stock as of March 31, 2025.

Summary

• FMR LLC and Abigail P. Johnson, its Chairman and CEO, jointly reported beneficial ownership of 3,162,037.41 shares of Red Rock Resorts Inc.'s Class A Common Stock.
• This aggregate amount represents 5.3% of the total outstanding Class A Common Stock of Red Red Rock Resorts Inc.
• The filing is an Amendment No. 2 to a Schedule 13G, indicating a change or update to a previously reported passive investment stake.
• FMR LLC holds sole voting power over 3,150,079.00 shares and sole dispositive power over 3,162,037.41 shares.
• Abigail P. Johnson is deemed to beneficially own the same aggregate amount of shares (3,162,037.41) due to her role and family's controlling interest in FMR LLC, though she holds no sole voting or dispositive power directly over these shares.
• The filing was made pursuant to Rule 13d-1(b), indicating that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 7

Explanation: The disclosure of a significant passive stake by a reputable institutional investor like FMR LLC is generally viewed positively by the market, indicating confidence in the company without an intent to influence control.

Positives

• The disclosure of a significant 5.3% stake by a major institutional investor like FMR LLC, a prominent asset manager, can be viewed as a positive signal of confidence in Red Rock Resorts Inc.'s long-term prospects.
• The filing indicates that the stake is held for investment purposes in the ordinary course of business, suggesting a passive, long-term investment rather than an activist intent.

Negatives

• The document does not contain any explicit negative information regarding Red Rock Resorts Inc.'s operations or financial performance.

Risks

• The document itself does not detail specific risks related to Red Rock Resorts Inc.'s business operations. It primarily focuses on the beneficial ownership structure of the reporting entities.
• The filing notes that one or more other persons have the right to receive dividends or proceeds from the sale of the securities, but no single other person's interest exceeds five percent of the total outstanding Class A Common Stock.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance from Red Rock Resorts Inc. or the reporting persons regarding the issuer's future performance.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11." (Certification by FMR LLC and Abigail P. Johnson)

Industry Context

This filing is a standard disclosure of an institutional investor's stake in a publicly traded company within the gaming and hospitality industry. It does not provide specific analysis of broader industry trends or competitive landscape, but the investment by FMR LLC suggests continued institutional interest in the sector.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake may increase investor confidence and potentially influence stock price positively due to perceived validation of the company's value.
• Employees, Customers, Suppliers, Creditors: This filing is unlikely to have a direct impact on these stakeholders as it pertains to passive ownership and not operational changes or financial distress.

Key Dates

Keywords

Red Rock Resorts Inc., FMR LLC, Abigail P. Johnson, Class A Common Stock, Beneficial Ownership, SEC Filing, Schedule 13G, Institutional Investor, Gaming Industry, Hospitality, Investment Management