Red Rock Resorts Inc., the casino business controlled by the billionaire Fertitta brothers, raised $531.4 million in its initial public offering, the biggest U.S. IPO this year, after pricing the shares at the midpoint of the marketed range.

Red Rock and existing shareholders sold 27.25 million Class A shares for $19.50 apiece, according to data compiled by Bloomberg, after marketing them for $18 to $21 each. The shares will start trading Wednesday, listed on the Nasdaq Stock Market under the symbol RRR.

Much of the proceeds will go to the Fertitta brothers, Frank, 54, and Lorenzo, 47, who serve as chief executive officer and director, respectively.

As part of the IPO, Red Rock will buy Fertitta Entertainment for $460 million minus debt, according to the offering documents. The brothers will each receive $113.5 million from the sale, while trusts for the benefit of their six children will receive a combined $106.8 million.

The brothers will have 87 percent of the voting power in the company after the IPO, the prospectus shows. New shareholders are buying Class A shares that have combined voting power of 7.3 percent.

Deutsche Bank AG, JPMorgan Chase & Co., Bank of America Corp.’s Merrill Lynch and Goldman Sachs Group Inc. managed the IPO.

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