Illegal Activity
none
Blackmail
none
Date
2018-01-03
Document Type
report
Model
gemini-2.0-flash-001
Processed
2026-02-07T18:42
Summary
This document is a financial report from Deutsche Bank Securities Inc. providing a buy rating for Red Rock Resorts bonds and discussing the company's financial performance, including projections for revenue, EBITDA, and cash flow. It also briefly mentions Wynn Resorts and its potential benefits from the VIP recovery in Macau.
Metadata
- Subject
- HY Corporate Credit HY Multi Sector.Media. Cable & Satellite
- Sender
- —
- Recipients
- —
- Document ID
- DB-SDNY-0086652
- Date
- 2018-01-03
Relationships 2
| Entity 1 | Relationship | Entity 2 | Description |
|---|---|---|---|
| Red Rock Resorts | Analysis/Rating | Deutsche Bank Securities Inc. | Deutsche Bank Securities Inc. is providing a buy rating on Red Rock Resorts bonds. |
| Wynn Resorts | Business | Macau | Wynn Resorts is expected to benefit from the VIP recovery in Macau. |
Notable Quotes 3
While we believe that the investment at the Palms could generate an attractive ROI, we believe that the ramp of the property will be slow and the overall investment quite high.
With this report, we are reaffirming our buy rating on Red Rock Resorts 5.0% Senior Unsecured Notes 2025 ($100.2, 5.0%YlVV, 279bps STW) with a Buy rating given our belief that these bonds offer investors an attractive total return opportunity compared to the DB HY Gaming Index, which is currently trading at 4.6%.
Wynn Resorts Post a modest EBITDA beat our investment thesis remains unchanged, as we continue to expect Wynn to be the biggest beneficiary of the second phase of the VIP recovery in Macau.
Financial Information
Amounts:$505 million$484 million$1.64 billion$1.45 billion$270 million$120 million$121 million$9 million$45 million$27 million$5 million$85 million$2.69 billion$104 million$525 million$1.66 billion$560 million$108 million$65 million$280 million$2.97 billion$461$489$605$130$162$211306329122116118010522212643011322611$4l$2351823111$8511281:4$2.100$2,367$2.687$2,967116134222
Assets:
- Red Rock Resorts 5.0% Senior Unsecured Notes 2025
Transactions:
- Capital expenditures
- Land acquisition
- Cash interest
- Cash taxes
- Distributions
- Dividends
- Asset sales
Raw Analysis JSON
click to expand
Themes
Financial transactions/money flowBusiness dealings
Organizations 3
Red Rock ResortsDeutsche Bank Securities Inc.Wynn Resorts
Locations 3
the PalmsLas VegasMacau
Text Analysis
- Tone
- Professional
- Purpose
- To provide an analysis and rating for Red Rock Resorts bonds and discuss the financial performance of Red Rock Resorts and Wynn Resorts.
- Significance
- This document provides financial analysis and projections for Red Rock Resorts and discusses the potential impact of investments and market conditions on their performance.
File Info
- File Name
- EFTA01385368.txt
- Dataset
- dataset_10
- Type
- Text
- Model
- gemini-2.0-flash-001
- Processed
- 2026-02-07T18:42:23.551392
- DOJ Source
- View on DOJ