Red Rock Resorts Announces Second Quarter 2026 Results
LAS VEGAS, Aug. 4, 2026 /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
Las Vegas Operations
Native American
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.