Red Rock Resorts Q3 revenue beats estimates on Las Vegas growth
RRR•Red Rock Resorts' third-quarter revenue rose 2.8% year over year to $488.70 million, beating the $477.93 million estimate, while adjusted EBITDA slightly beat expectations at $182.60 million. The company reported a $17.74 million net loss, including $79.1 million in anniversary-related share-based compensation and $6.9 million in other one-time expenses.
1. Quarterly results
Red Rock Resorts reported third-quarter revenue of $488.70 million, up 2.8% year over year and above the $477.93 million analyst estimate. Adjusted EBITDA was $182.60 million, slightly above the $181.06 million estimate.
2. Costs and segment growth
The company posted a net loss of $17.74 million, reflecting $79.1 million of share-based compensation tied to its 50th anniversary and $6.9 million of other one-time expenses. Native American segment revenue rose 59% year over year, while Las Vegas operations revenue increased 2.2%.
3. Company outlook
Red Rock Resorts did not provide specific financial guidance for the upcoming quarter or full year.
