Red Rock Resorts Shares Trading Below Issue Price In Market Debut

By Markets MarketWatch Pulse

Shares of Red Rock Resorts Inc. , a casino operator and a rare consumer IPO so far this year, were trading at $18.70 Wednesday, below the company's IPO issue price of $19.50. Red Rock resorts sold 27.25 million shares to raise about $531 million. The company had previously set a price range for shares between $18 and $21. Deutsche Bank, JPMorgan, Bank of America Merrill Lynch and Goldman Sachs & Co. were the lead underwriters of the offering.

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