Original source text
A month has gone by since the last earnings report for Red Rock Resorts (RRR - Free Report) . Shares have lost about 6.8% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Red Rock Resorts due for a breakout? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for Red Rock Resorts, Inc. before we dive into how investors and analysts have reacted as of late.
Red Rock Resorts Q2 Earnings & Revenues Beat EstimatesRed Rock Resorts reported second-quarter 2026 results, with earnings and revenues beating the Zacks Consensus Estimate. Both top and bottom lines declined year over year, reflecting softer results across casino, food and beverage, room and Native American operations.
In the quarter under review, earnings per share came in at 67 cents, topping the Zacks Consensus Estimate of 33 cents by 103%. In the prior-year quarter, the company recorded earnings of 95 cents per share. Quarterly revenues of $510.3 million surpassed the Zacks Consensus Estimate of $497 million by 2.8%. However, the top line declined 3% year over year.
RRR's Casino-Led Mix Softens in Q2Casino revenues remained the largest contributor in the quarter, declining to $338.3 million from $344.8 million a year ago. Food and beverage revenues also decreased to $93 million from $94.4 million in the prior-year quarter.
Room revenues were another soft spot within the mix, falling to $46.7 million from $51.2 million. Other revenues increased to $28.5 million from $25.9 million, while Native American management and development fees declined sharply to $3.8 million from $10 million a year earlier.
Red Rock Resorts' Las Vegas Operations Lose GroundThe company's Las Vegas operations continued to account for the bulk of its business, generating net revenues of $503.2 million in the second quarter. This marked a 2% decline from $513.3 million in the year-ago period.
Adjusted EBITDA from Las Vegas operations fell 5% year over year to $227.5 million from $239.4 million. The segment's adjusted EBITDA margin consequently narrowed to 45.2% from 46.7%, indicating that profitability declined at a faster pace than revenues during the quarter.
RRR Absorbs Higher Costs as Margins ContractExpense trends added pressure to second-quarter profitability. Selling, general and administrative expenses increased to $117.9 million from $112 million, while depreciation and amortization climbed to $59 million from $48 million. Food and beverage costs also rose to $78.7 million from $75.9 million.
Total operating costs and expenses increased 4.5% year over year to $374.3 million. As a result, operating income declined 19.1% to $136 million, with the operating margin contracting to 26.7% from 31.9% in the prior-year quarter. Consolidated adjusted EBITDA decreased 9.3% to $208 million, while the adjusted EBITDA margin narrowed to 40.8% from 43.6%.
Red Rock Resorts Posts Lower Q2 Net IncomeNet income was $76.6 million in the second quarter, down 29.3% from $108.3 million a year earlier. Net income attributable to Red Rock Resorts declined to $39.1 million from $56.4 million in the prior-year period.
Interest expense, net, eased to $49.6 million from $50.6 million. The quarter also included a $3.1 million gain related to the change in fair value of derivative instruments. This compared with a $2.3 million loss in the year-ago quarter, which also included an $8.5 million gain on Native American development.
RRR Maintains Liquidity and Returns CapitalRed Rock Resorts ended the second quarter with cash and cash equivalents of $136.5 million. The total principal amount of debt outstanding stood at $3.6 billion as of June 30, 2026, providing investors with a snapshot of the company's liquidity and leverage position at quarter-end.
The board declared a cash dividend of 26 cents per Class A common share for the second quarter of 2026, payable Sept. 30 to its stockholders of record as of Sept. 15, 2026. Before the dividend payment, Station Holdco LLC will distribute approximately $29 million, or 26 cents per unit, to its unit holders. About $17.1 million is expected to be distributed to Red Rock Resorts and approximately $11.9 million to the other Station Holdco unit holders.
How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted -17.65% due to these changes.
VGM ScoresCurrently, Red Rock Resorts has a average Growth Score of C, a grade with the same score on the momentum front. Following the exact same course, the stock was allocated a score of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Red Rock Resorts has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
|
Original source text
Posted by Defense World Staff on Aug 11th, 2026
Red Rock Resorts, Inc. (NASDAQ:RRR – Get Free Report) President Scott Kreeger sold 31,159 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $61.78, for a total transaction of $1,925,003.02. Following the transaction, the president directly owned 203,881 shares in the company, valued at $12,595,768.18. This trade represents a 13.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Red Rock Resorts Trading Down 1.0% NASDAQ:RRR opened at $61.29 on Tuesday. Red Rock Resorts, Inc. has a one year low of $50.52 and a one year high of $68.99. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a market cap of $6.44 billion, a P/E ratio of 21.66, a P/E/G ratio of 4.58 and a beta of 1.36. The firm has a 50-day simple moving average of $62.98 and a 200-day simple moving average of $59.82.
Red Rock Resorts (NASDAQ:RRR – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.16. The firm had revenue of $510.26 million for the quarter, compared to the consensus estimate of $500.08 million. Red Rock Resorts had a net margin of 8.43% and a return on equity of 55.65%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. Equities analysts anticipate that Red Rock Resorts, Inc. will post 1.5 EPS for the current fiscal year.
Red Rock Resorts Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Red Rock Resorts’s dividend payout ratio (DPR) is 36.75%.
Wall Street Analyst Weigh In Several research firms have recently commented on RRR. Bank of America boosted their price target on Red Rock Resorts from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $72.00 price objective on shares of Red Rock Resorts in a research report on Thursday, April 30th. Citizens Jmp lifted their target price on Red Rock Resorts from $69.00 to $71.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 5th. Truist Financial boosted their target price on shares of Red Rock Resorts from $68.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Citigroup reaffirmed a “buy” rating on shares of Red Rock Resorts in a research report on Wednesday, August 5th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.88.
View Our Latest Stock Report on Red Rock Resorts
Institutional Investors Weigh In On Red Rock Resorts Large investors have recently modified their holdings of the business. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Red Rock Resorts during the 2nd quarter worth about $120,743,000. Valeo Financial Advisors LLC increased its stake in shares of Red Rock Resorts by 4.7% during the second quarter. Valeo Financial Advisors LLC now owns 5,201 shares of the company’s stock worth $338,000 after purchasing an additional 234 shares in the last quarter. SWP Investment Management LLC acquired a new position in shares of Red Rock Resorts during the 2nd quarter worth about $2,782,000. Empowered Funds LLC acquired a new position in shares of Red Rock Resorts during the 1st quarter worth about $269,000. Finally, Segall Bryant & Hamill LLC lifted its stake in Red Rock Resorts by 123.6% in the 1st quarter. Segall Bryant & Hamill LLC now owns 36,165 shares of the company’s stock valued at $1,930,000 after buying an additional 19,991 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.
Red Rock Resorts Company Profile (Get Free Report)
Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.
The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.
See Also Five stocks we like better than Red Rock Resorts SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat 3 Dividend Champion Utilities for a Market That Can’t Sit Still These 3 Most-Upgraded Stocks Have Almost Nothing to Do With AI First Solar’s Profit Engine Faces a New Policy Test in Washington Receive News & Ratings for Red Rock Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts and related companies with MarketBeat.com's FREE daily email newsletter.
« PREVIOUS HEADLINETTM Technologies (NASDAQ:TTMI) SVP Dale Martin Knecht Sells 26,198 Shares of Stock
NEXT HEADLINE »Insider Buying: Rokmaster Resources (CVE:RKR) Director Acquires C$22,650.00 in Stock
|
Original source text
Key Takeaways Red Rock Resorts expects Green Valley Ranch's full East Tower hotel product back online in September.Over 21,000 room nights were unavailable in Q2, contributing to about $7 million of temporary disruption.RRR still faces higher labor, utility and construction costs, with Durango disruption starting in Q3. Red Rock Resorts, Inc. (RRR - Free Report) enters the second half of 2026 with a near-term operating catalyst at Green Valley Ranch. More than 21,000 room nights were unavailable during the second quarter as hotel renovation work reduced capacity and affected related gaming and food-and-beverage activity.
The full East Tower hotel product is expected back online in September, with management pointing to late September for the return of the full hotel offering. Restored capacity could help RRR test whether underlying hotel demand can translate into better operating performance heading into the fourth quarter.
RRR's Green Valley Rooms Return in StagesGreen Valley Ranch's West Tower and convention space have already reopened. The East Tower is expected to return in September, completing the renovation of the property's guest rooms and suites.
The broader redevelopment is not finished. A roughly $56 million next phase includes a casino-floor refresh, food-and-beverage enhancements and upgraded entertainment amenities, with construction expected to extend into 2027.
Red Rock Resorts' Q2 Disruption Shows the Earnings CostGreen Valley Ranch experienced about $7 million of temporary disruption in the second quarter, better than the prior $9 million expectation. Management linked the impact mainly to unavailable rooms and the associated loss of gaming and food-and-beverage activity.
Las Vegas adjusted EBITDA fell 5% year over year to $227.5 million, while the segment's adjusted EBITDA margin declined to 45.2% from 46.7%. Consolidated adjusted EBITDA margin also fell to 40.8% from 43.6%, showing the broader profitability pressure during the quarter.
RRR Could Regain Hotel and Gaming CapacityExcluding Green Valley Ranch's room disruption, same-store hotel performance was favorable, with management citing positive occupancy and average daily rate trends. Food and beverage also benefited from higher guest volumes and higher check averages.
Restoring the inventory should improve Green Valley Ranch's ability to capture hotel, gaming and dining demand. The property's renovated high-limit gaming areas are already in service.
Boyd Gaming Corporation (BYD - Free Report) said its Las Vegas Locals results were affected by destination softness at the Orleans and construction disruption at Suncoast in the second quarter. Caesars Entertainment, Inc. (CZR - Free Report) reported Las Vegas net revenues of $1.017 billion, down 3.5% year over year. Those updates provide current peer context for RRR's reopening.
Red Rock Resorts Still Faces Utility and Project CostsThe reopening alone does not remove near-term cost pressure. Labor costs were up about 3% year over year, and management expects electric utility expense to remain a drag through the rest of 2026.
Seasonality adds another constraint. Management said Las Vegas operations are typically down about 10% sequentially from the second quarter to the third, while construction continues at Green Valley Ranch, Sunset Station and Durango. Durango is also expected to absorb about $2.5 million of quarterly disruption beginning in the third quarter.
RRR's Cautious Signals Frame the ReopeningThe September room return gives RRR a concrete operating milestone, but margin recovery can remain uneven while construction and utility costs persist. Green Valley Ranch is the first major return-on-investment project expected to begin contributing in the fourth quarter, making that period the next scheduled step in the property's earnings ramp.
RRR currently carries a Zacks Rank #3 (Hold), with a Value Score of C, Growth Score of C, Momentum Score of F and VGM Score of D. The Zacks framework places greater emphasis on A and B Style Scores, especially alongside #1 or #2 ranks. RRR's current mix does not provide that combination, supporting a cautious view while investors wait for evidence that restored capacity is translating into stronger earnings and margins. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
|
Original source text
Key Takeaways Red Rock Resorts trades at a premium valuation, leaving less room for project delays or weak returns.Durango North, North Fork and property redevelopments could expand earnings capacity through 2027.RRR's earnings estimates remain pressured as $3.6 billion of debt and heavy spending limit flexibility. Red Rock Resorts, Inc. (RRR - Free Report) is investing heavily in a pipeline that could expand earnings capacity, but its valuation already reflects meaningful expectations. The central question is whether those projects can deliver enough incremental returns to support the premium.
Near-term earnings pressure and elevated leverage make timing important. Investors have to weigh the development runway against a earnings pressure, construction disruption and substantial debt.
RRR's Valuation Demands Strong Project ReturnsRRR's forward 12-month price-to-sales ratio is 3.11, above 1.85 for its Zacks sub-industry, 2.31 for the Zacks sector and its five-year median of 2.84. That premium leaves less room for delays or weaker-than-expected project returns.
The comparison also matters within gaming. Caesars Entertainment, Inc. (CZR - Free Report) reported second-quarter 2026 net revenues of $3.0 billion and consolidated adjusted EBITDA of $920 million, giving investors a larger-scale industry reference as they assess what RRR's development-heavy valuation is asking it to deliver.
Red Rock Resorts' Expansion Pipeline Supports the Bull CaseGreen Valley Ranch's broader redevelopment carries an estimated cost of about $56 million and continues into 2027. Sunset Station's remaining redevelopment is expected to come online through 2026 and 2027, with total project cost unchanged at $87 million.
Durango North remains scheduled for the second half of 2027, while North Fork is targeted for an early fourth-quarter 2026 opening. Management generally evaluates major return-on-investment projects over a three-year ramp, with first-year returns around 10%, and Green Valley Ranch is expected to begin contributing in the fourth quarter of 2026.
Boyd Gaming Corporation (BYD - Free Report) provides a useful Las Vegas locals comparison. Boyd said its second-quarter Las Vegas Locals results were affected by destination softness and construction disruption at Suncoast, while the rest of that segment grew revenues and adjusted EBITDAR, underscoring how project work can obscure underlying property trends.
RRR's Earnings Reset Keeps Valuation in CheckThe 2026 earnings estimate is $1.50 per share, down from $3.12 in 2025, before improving to $1.82 in 2027. The trajectory suggests that the expansion case still needs time to translate into a fuller earnings recovery.
Sales estimates point to a more gradual progression. Revenues are estimated at $2.025 billion in 2026 and $2.135 billion in 2027 versus $2.011 billion in 2025, making project execution and margin recovery more important to the valuation argument than top-line growth alone.
Red Rock Resorts' Cash Flow Helps Fund Heavy SpendingRRR generated $100 million of operating free cash flow in the second quarter, equal to 48% of adjusted EBITDA. Operating free cash flow totaled $206.7 million for the first half of 2026, supporting ongoing reinvestment and shareholder returns.
The funding burden remains sizable. Total debt stood at $3.6 billion at June 30, while the net debt-to-EBITDA ratio was 4.21. Full-year 2026 capital spending is still expected at $375 million to $425 million, limiting the cushion for project or cost variability.
RRR's Mixed Signals Favor PatienceThe expansion pipeline gives RRR credible long-term earnings levers, but the premium valuation, earnings reset and leverage argue against assuming smooth execution. The current setup favors patience while investors watch for clearer evidence that new capacity is converting into sustained earnings improvement.
RRR currently carries a Zacks Rank #3 (Hold), with a Value Score of C, Growth Score of C, Momentum Score of F and VGM Score of D. The C scores are middling, while the F Momentum Score and D VGM Score are less favorable. The Hold rank can support retaining the stock, but the Style Score mix does not provide the A-or-B combination that typically strengthens a near-term buying case. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
|
Original source text
Key Takeaways Red Rock Resorts' resilient gaming trends and Durango expansion support its growth outlook.Durango North is slated for 2027, adding casino space, slots, dining, entertainment and parking.RRR's EBITDA margin fell as project disruption and higher labor and utility costs pressured profits. Shares of Red Rock Resorts, Inc. (RRR - Free Report) have gained 20.3% in the past three months, putting the focus on whether operating fundamentals can support the move. Stable gaming activity and an expanding development pipeline help the case, but construction and higher costs are pressuring profitability.
Execution now matters more. Durango and other projects can add earnings capacity over time, yet leverage remains elevated and estimate momentum has weakened.
RRR's Core Gaming Trends Stay ResilientCore slot and table trends were stable in the second quarter. Carded spend per visit and net theoretical win increased across local, regional and national customers. July gaming trends also remained favorable.
Peer results show a mixed backdrop. Boyd Gaming Corporation (BYD - Free Report) said its Las Vegas Locals segment faced destination softness and construction disruption, though the rest of the segment grew revenues. Caesars Entertainment, Inc. (CZR - Free Report) reported Las Vegas net revenues down 3.5% year over year, while regional net revenues rose 9.4%.
Red Rock Resorts' Durango Expansion Extends the RunwayDurango remains a key long-term growth lever. The December 2025 expansion added more than 25,000 square feet of casino space, a high-limit slot area and nearly 2,000 covered parking spaces. Management has cited favorable results from the premium gaming area.
Durango North remains scheduled for the second half of 2027. The project is expected to add more than 275,000 square feet, nearly 400 slots and new dining, entertainment, bowling and theater amenities. Management cited residential growth in Southwest Las Vegas as support for the project.
RRR's Margin Pressure Tests the RallyNear-term profitability is the main counterweight. Consolidated adjusted EBITDA fell 9.3% year over year to $208 million in the second quarter, while margin contracted 281 basis points to 40.8%. Las Vegas adjusted EBITDA margin fell 143 basis points to 45.2%.
Green Valley Ranch absorbed about $7 million of disruption in the quarter. Durango is expected to face about $2.5 million of quarterly disruption beginning in the third quarter through completion in the second half of 2027. Labor costs rose about 3%, while electric utility expense is expected to remain a drag through the rest of 2026.
Red Rock Resorts' Debt Raises the Bar for ExecutionRRR ended the second quarter with $136.5 million of cash, $3.6 billion of total debt and $3.5 billion of net debt. Net debt to EBITDA increased to 4.21X from 4.07X at March 31, reducing balance-sheet flexibility during an investment-heavy period.
Full-year 2026 capital spending is still expected at $375 million to $425 million, including $275 million to $300 million of investment capital. Second-quarter operating free cash flow of $100 million supports reinvestment, but elevated leverage leaves less room to absorb execution or cost variability.
RRR's Mixed Scores Temper Momentum EnthusiasmBottom line, RRR's 20.3% three-month gain is supported by resilient gaming trends and a multi-year development pipeline, but margin pressure, construction disruption and leverage keep the fundamental picture balanced. Price strength alone does not remove the execution risk.
The stock carries a Zacks Rank #3 (Hold), with a Value Score of C, Growth Score of C, Momentum Score of F and VGM Score of D. The #3 Rank does not signal the stronger short-term setup associated with #1 or #2 stocks, while the weaker Style Scores temper the momentum signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The current fiscal-year EPS estimate has declined 1.9% in the past four weeks and 10.7% in the past 12 weeks. The recent stock gain is therefore not yet matched by improving estimate momentum.
|
Original source text
, /PRNewswire/ -- Red Rock Resorts, Inc. ("Red Rock Resorts," "we" or the "Company") (NASDAQ: RRR) today reported financial results for the second quarter ended June 30, 2026.
Second Quarter Results
Consolidated Operations
Net revenues were $510.3 million for the second quarter of 2026, a decrease of 3.0%, or $16.0 million, from $526.3 million in the same period of 2025. Net income was $76.6 million for the second quarter of 2026, a decrease of 29.3%, or $31.7 million, from $108.3 million in the same period of 2025. Adjusted EBITDA(1) was $208.0 million for the second quarter of 2026, a decrease of 9.3%, or $21.4 million, from $229.4 million in the same period of 2025. Las Vegas Operations
Net revenues from Las Vegas operations were $503.2 million for the second quarter of 2026, a decrease of 2.0%, or $10.1 million, from $513.3 million in the same period of 2025. Adjusted EBITDA from Las Vegas operations was $227.5 million for the second quarter of 2026, a decrease of 5.0%, or $11.9 million, from $239.4 million in the same period of 2025. Native American
Net revenues from Native American activities were $3.8 million for the second quarter of 2026, a decrease of 62.0%, or $6.2 million, from $10.0 million in the same period of 2025. Adjusted EBITDA from Native American activities was $2.8 million, a decrease of 72.0%, or $7.2 million, from $10.0 million in the same period of 2025. Balance Sheet Highlights
The Company's cash and cash equivalents at June 30, 2026 were $136.5 million and total principal amount of debt outstanding at the end of the second quarter was $3.6 billion.
Quarterly Dividend
The Company's Board of Directors has declared a cash dividend of $0.26 per Class A common share for the second quarter of 2026. The dividend will be payable on September 30, 2026 to all stockholders of record as of the close of business on September 15, 2026.
Prior to the payment of such dividend, Station Holdco LLC ("Station Holdco") will make a cash distribution to all unit holders of record, including the Company, of $0.26 per unit for a total distribution of approximately $29.0 million, approximately $17.1 million of which is expected to be distributed to the Company and approximately $11.9 million of which is expected to be distributed to the other unit holders of record of Station Holdco.
Conference Call Information
The Company will host a conference call today at 4:30 p.m. Eastern Time to discuss its financial results. The conference call will consist of prepared remarks from the Company and include a question and answer session. Those interested in participating in the call should dial (888) 317-6003, or (412) 317-6061 for international callers, approximately 15 minutes before the call start time. Please use the passcode: 6067582. A replay of the call will be available from today through August 11, 2026 at www.redrockresorts.com. A live audio webcast of the call will also be available at www.redrockresorts.com.
Presentation of Financial Information
(1) Adjusted EBITDA is a non-GAAP measure that is presented solely as a supplemental disclosure. We believe that Adjusted EBITDA is a widely used measure of operating performance in our industry and is a principal basis for valuation of gaming companies. We believe that in addition to net income, Adjusted EBITDA is a useful financial performance measurement for assessing our operating performance because it provides information about the performance of our ongoing core operations. Adjusted EBITDA for the three and six months ended June 30, 2026 and 2025 includes net income plus depreciation and amortization, share-based compensation, write-downs and other, net (including gains and losses on asset disposals, preopening and development, business innovation and technology enhancements and non-routine items), interest expense, net, change in fair value of derivative instruments, gain on Native American development and provision for income tax.
Company Information and Forward Looking Statements
Red Rock Resorts is a holding company that owns an indirect equity interest in and manages Station Casinos LLC ("Station Casinos"). Station Casinos is the leading provider of gaming, hospitality and entertainment to the residents of Las Vegas, Nevada. Station Casinos' properties, which are located throughout the Las Vegas valley, are regional entertainment destinations and include hotels as well as various amenities, including numerous restaurants, entertainment venues, movie theaters, bowling and convention/banquet space, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering. Station Casinos owns and operates Red Rock Casino Resort Spa, Green Valley Ranch Resort Spa Casino, Durango Resort & Casino, Palace Station Hotel & Casino, Boulder Station Hotel & Casino, Sunset Station Hotel & Casino, Santa Fe Station Hotel & Casino, Wildfire Rancho, Wildfire Boulder, Wildfire Sunset, Wildfire Valley View, Wildfire Anthem, Wildfire Lake Mead, Wildfire on Fremont and Seventy Six by Station Casinos (North Lamb, Aliante, Union Village, Tropicana, Fort Apache, and Park Highlands). Station Casinos also owns a 50% interest in Barley's Casino & Brewing Company, Wildfire Casino & Lanes and The Greens.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, without limitation, statements regarding our expectations, hopes or intentions regarding the future. These forward-looking statements can often be identified by their use of words such as "will", "might", "predict", "continue", "forecast", "expect", "believe", "anticipate", "outlook", "could", "would", "target", "project", "intend", "plan", "seek", "estimate", "pursue", "should", "may" and "assume", or the negative thereof, as well as variations of such words and similar expressions referring to the future. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. Certain important factors, including but not limited to, financial market risks, could cause our actual results to differ materially from those expressed in our forward-looking statements. Further information on potential factors which could affect our financial condition, results of operations and business includes, without limitation, the impact of rising inflation, higher interest rates and increased energy costs on consumer demand and the Company's business, financial results and liquidity; the impact of unemployment and changes in general economic conditions on discretionary spending and consumer demand; the impact of our substantial indebtedness; the effects of local and national economic, credit and capital market conditions on consumer spending and the economy in general, and on the gaming and hotel industries in particular; the effects of competition, including locations of competitors and operating and market competition; changes in laws, including increased tax rates, regulations or accounting standards, third-party relations and approvals, and decisions of courts, regulators and governmental bodies; risks associated with construction projects, including disruption of our operations, shortages of materials or labor, unexpected costs, unforeseen permitting or regulatory issues and weather; litigation outcomes and judicial actions, including gaming legislative action, referenda and taxation; acts of war or terrorist incidents, pandemics, natural disasters or civil unrest; risks associated with the collection and retention of data about our customers, employees, suppliers and business partners; and other risks discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in the Company's other current and periodic reports filed from time to time with the Securities and Exchange Commission. All forward-looking statements in this document are made based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.
View source version on http://redrockresorts.investorroom.com/:
Investors:
Stephen L. Cootey
[email protected]
(702) 495-4214
Media:
Michael J. Britt
[email protected]
(702) 495-3693
Red Rock Resorts, Inc.
Condensed Consolidated Statements of Income
(amounts in thousands, except per share data)
(unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Operating revenues:
Casino
$ 338,305
$ 344,796
$ 678,827
$ 678,041
Food and beverage
93,033
94,374
183,356
183,646
Room
46,658
51,187
92,172
101,357
Native American management and development fees
3,806
10,008
8,543
10,008
Other
28,460
25,908
54,683
51,082
Net revenues
510,262
526,273
1,017,581
1,024,134
Operating costs and expenses:
Casino
90,239
93,862
181,469
183,275
Food and beverage
78,699
75,894
152,886
149,655
Room
15,845
15,941
31,449
31,930
Other
9,983
8,519
17,683
15,762
Selling, general and administrative
117,936
112,031
232,293
216,742
Depreciation and amortization
58,985
47,988
114,840
96,319
Write-downs and other, net
2,579
4,010
7,289
8,070
374,266
358,245
737,909
701,753
Operating income
135,996
168,028
279,672
322,381
Earnings from joint ventures
637
610
1,344
1,322
Operating income and earnings from joint ventures
136,633
168,638
281,016
323,703
Other (expense) income:
Interest expense, net
(49,645)
(50,632)
(99,149)
(101,742)
Change in fair value of derivative instruments
3,087
(2,305)
4,053
(7,499)
Gain on Native American development
—
8,476
—
8,476
Income before income tax
90,075
124,177
185,920
222,938
Provision for income tax
(13,483)
(15,924)
(26,608)
(28,735)
Net income
76,592
108,253
159,312
194,203
Less: net income attributable to noncontrolling interests
37,474
51,849
77,305
93,050
Net income attributable to Red Rock Resorts, Inc.
$ 39,118
$ 56,404
$ 82,007
$ 101,153
Earnings per common share:
Earnings per share of Class A common stock, basic
$ 0.68
$ 0.96
$ 1.41
$ 1.71
Earnings per share of Class A common stock, diluted
$ 0.67
$ 0.95
$ 1.40
$ 1.69
Weighted-average common shares outstanding:
Basic
57,888
58,960
58,045
59,081
Diluted
58,805
102,730
59,086
103,060
Dividends declared per common share
$0.26
$1.25
$1.52
$1.50
Red Rock Resorts, Inc.
Segment Information and Reconciliation of Net Income to Adjusted EBITDA
(amounts in thousands)
(unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Net revenues
Las Vegas operations
$ 503,158
$ 513,262
$ 1,002,680
$ 1,008,215
Native American
3,806
10,008
8,543
10,008
Corporate and other
3,298
3,003
6,358
5,911
Net revenues
$ 510,262
$ 526,273
$ 1,017,581
$ 1,024,134
Net income
$ 76,592
$ 108,253
$ 159,312
$ 194,203
Adjustments
Depreciation and amortization
58,985
47,988
114,840
96,319
Share-based compensation
9,847
8,723
17,527
16,347
Write-downs and other, net
2,579
4,010
7,289
8,070
Interest expense, net
49,645
50,632
99,149
101,742
Change in fair value of derivative instruments
(3,087)
2,305
(4,053)
7,499
Gain on Native American development
—
(8,476)
—
(8,476)
Provision for income tax
13,483
15,924
26,608
28,735
Adjusted EBITDA
$ 208,044
$ 229,359
$ 420,672
$ 444,439
Adjusted EBITDA
Las Vegas operations
$ 227,534
$ 239,444
$ 459,951
$ 475,344
Native American
2,811
10,008
5,734
10,008
Corporate and other
(22,301)
(20,093)
(45,013)
(40,913)
Adjusted EBITDA
$ 208,044
$ 229,359
$ 420,672
$ 444,439
SOURCE Red Rock Resorts, Inc.
|
