Form 8-K

8-K — Red Rock Resorts, Inc.

Accession: 0001193125-26-191436

Filed: 2026-04-29

Period: 2026-04-29

CIK: 0001653653

SIC: 7011 (HOTELS & MOTELS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — d942244d8k.htm (Primary)

EX-99.1 (d942244dex991.htm)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event Reported): April 29, 2026

RED ROCK RESORTS, INC.

(Exact Name of Registrant as Specified in Charter)

Delaware

001-37754

47-5081182

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification Number)

1505 South Pavilion Center Drive, Las Vegas, Nevada 89135

(Address of Principal Executive Offices) (Zip Code)

702-495-3000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Class A Common Stock, $0.01 par value

RRR

NASDAQ Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On April 29, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

Exhibit 99.1.

Press release dated April 29, 2026

Exhibit 104

Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

RED ROCK RESORTS, INC.

Date: April 29, 2026

By:

/s/ Stephen L. Cootey

Stephen L. Cootey

Executive Vice President, Chief Financial Officer and Treasurer

EX-99.1

Filename: d942244dex991.htm · Sequence: 2

EX-99.1

Exhibit 99.1

Red Rock Resorts Announces First Quarter 2026 Results

LAS VEGAS, April 29, 2026 (PRNewswire)—Red Rock Resorts, Inc. (“Red Rock Resorts,” “we” or the “Company”)

(NASDAQ: RRR) today reported financial results for the first quarter ended March 31, 2026.

First Quarter Results

Consolidated Operations

•

Net revenues were $507.3 million for the first quarter of 2026, an increase of 1.9%, or $9.4 million,

from $497.9 million in the same period of 2025.

•

Net income was $82.7 million for the first quarter of 2026, a decrease of 3.8%, or $3.3 million, from

$86.0 million in the same period of 2025.

•

Adjusted EBITDA(1) was $212.6 million for the first

quarter of 2026, a decrease of 1.2%, or $2.5 million, from $215.1 million in the same period of 2025.

Las Vegas Operations

•

Net revenues from Las Vegas operations were $499.5 million for the first quarter of 2026, an increase of

0.9%, or $4.5 million, from $495.0 million in the same period of 2025.

•

Adjusted EBITDA from Las Vegas operations was $232.4 million for the first quarter of 2026, a decrease of

1.5%, or $3.5 million, from $235.9 million in the same period of 2025.

Native American

•

Net revenues from Native American activities were $4.7 million for the first quarter of 2026, with Adjusted

EBITDA of $2.9 million, representing activities related to management and development fees.

Balance Sheet Highlights

The Company’s cash and cash equivalents at March 31, 2026 were $134.0 million and total principal amount of debt outstanding at the end of the

first 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 June 30, 2026 to all stockholders of record as of the close of business on June 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 $28.8 million, approximately $16.9 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: 1891420. A replay of the call will be available from today through May 6, 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 months ended March 31, 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 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 and Tropicana). 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

Stephen.Cootey@redrockresorts.com

(702) 495-4214

Media:

Michael J. Britt

Michael.Britt@redrockresorts.com

(702) 495-3693

Red Rock Resorts, Inc.

Condensed Consolidated Statements of Income

(amounts in thousands, except per share data)

(unaudited)

Three Months Ended

March 31,

2026

2025

Operating revenues:

Casino

340,522

333,245

Food and beverage

90,323

89,272

Room

45,514

50,170

Native American management and development fees

4,737

—

Other

26,223

25,174

Net revenues

507,319

497,861

Operating costs and expenses:

Casino

91,230

89,413

Food and beverage

74,187

73,761

Room

15,604

15,989

Other

7,700

7,243

Selling, general and administrative

114,357

104,711

Depreciation and amortization

55,855

48,331

Write-downs and other, net

4,710

4,060

363,643

343,508

Operating income

143,676

154,353

Earnings from joint ventures

707

712

Operating income and earnings from joint ventures

144,383

155,065

Other (expense) income:

Interest expense, net

(49,504

)

(51,110

)

Change in fair value of derivative instruments

966

(5,194

)

Income before income tax

95,845

98,761

Provision for income tax

(13,125

)

(12,811

)

Net income

82,720

85,950

Less: net income attributable to noncontrolling interests

39,831

41,201

Net income attributable to Red Rock Resorts, Inc.

42,889

44,749

Earnings per common share:

Earnings per share of Class A common stock, basic

0.74

0.76

Earnings per share of Class A common stock, diluted

0.73

0.75

Weighted-average common shares outstanding:

Basic

58,204

59,203

Diluted

59,369

103,393

Dividends declared per common share

1.26

0.25

Red Rock Resorts, Inc.

Segment Information and Reconciliation of Net Income to Adjusted EBITDA

(amounts in thousands)

(unaudited)

Three Months Ended

March 31,

2026

2025

Net revenues

Las Vegas operations

499,522

494,953

Native American

4,737

—

Corporate and other

3,060

2,908

Net revenues

507,319

497,861

Net income

82,720

85,950

Adjustments

Depreciation and amortization

55,855

48,331

Share-based compensation

7,680

7,624

Write-downs and other, net

4,710

4,060

Interest expense, net

49,504

51,110

Change in fair value of derivative instruments

(966

)

5,194

Provision for income tax

13,125

12,811

Adjusted EBITDA

212,628

215,080

Adjusted EBITDA

Las Vegas operations

232,417

235,900

Native American

2,923

—

Corporate and other

(22,712

)

(20,820

)

Adjusted EBITDA

212,628

215,080

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