Red Rock Resorts Reports Increase in Net Revenues for Third Quarter of 2024

Red Rock Resorts, Inc. (NASDAQ: RRR) has announced its financial results for the third quarter ending September 30, 2024. The company reported a growth in net revenues compared to the same period in 2023.

The consolidated operations of Red Rock Resorts showed a net revenue of $468.0 million for the third quarter of 2024, marking a 13.7% increase from $411.6 million in the corresponding period of 2023. However, the net income declined to $55.4 million for the third quarter of 2024, a decrease of 19.0% from $68.4 million in the same period in 2023. Adjusted EBITDA for the quarter was $182.7 million, up 4.3% from $175.2 million in Q3 2023.

In specific reference to Las Vegas operations, net revenues amounted to $464.7 million for the quarter, registering a 13.9% increase compared to $408.0 million in Q3 2023. Adjusted EBITDA from Las Vegas operations also rose to $202.6 million, demonstrating a 5.8% increase from $191.4 million in the same quarter last year.

The company’s cash and cash equivalents as of September 30, 2024, were $117.5 million, with a total outstanding debt of $3.5 billion at the end of the third quarter.

Furthermore, Red Rock Resorts’ Board of Directors has declared a cash dividend of $0.25 per Class A common share for the fourth quarter of 2024. The dividend payout is scheduled for December 31, 2024, to shareholders of record as of December 16, 2024.

Red Rock Resorts held a conference call on November 7, 2024, where the financial results were discussed. For interested parties, the replay of the call will be available on the company’s website until November 14, 2024.

The company emphasized that Adjusted EBITDA, a non-GAAP financial metric, helps in evaluating its operating performance and is widely recognized in the gaming industry as a key measure for company valuation.

Red Rock Resorts, Inc., a holding company with interests in Station Casinos LLC, focuses on providing gaming, hospitality, and entertainment services in the Las Vegas area. Station Casinos owns and operates various properties, including hotel and entertainment complexes.

This press release may contain forward-looking statements, and actual results could differ based on various risk factors such as economic conditions, market risks, regulatory changes, and other uncertainties outlined in the Company’s filings with the Securities and Exchange Commission.

For more information, visit Red Rock Resorts’ investor relations page at redrockresorts.investorroom.com.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Red Rock Resorts’s 8K filing here.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.