Three Bays Capital Boosts Red Rock Resorts Stake ~ market folly

Thursday, August 24, 2017

Three Bays Capital Boosts Red Rock Resorts Stake

Matthew Sidman's hedge fund firm Three Bays Capital has filed a 13G with the SEC regarding its position in Red Rock Resorts (RRR).  Per the filing, Three Bays now owns 5.1% of the company with over 3.48 million shares.

This is an increase of over 2 million shares since the end of the second quarter when they owned 1.47 million shares.  The filing was made due to activity on August 18th.

Prior to founding Three Bays, Sidman worked at Highfields Capital.

Per Google Finance, Red Rock Resorts is "a gaming, development and management company. The Company's segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements. It provides gaming and entertainment for residents of the Las Vegas regional market and visitors. Its Las Vegas portfolio includes approximately 10 gaming and entertainment facilities and over 10 smaller casinos, offering approximately 20,300 slot machines, over 350 table games and approximately 4,750 hotel rooms. The Company offers a range of gaming and non-gaming entertainment options. It also controls over seven gaming-entitled development sites consisting of approximately 398 acres in Las Vegas and Reno, Nevada. The Company manages and owns interest in Station Casinos LLC, which is the provider of gaming and entertainment."

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