Red Rock Resorts Earnings Call Transcripts
Fiscal Year 2026
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Record Las Vegas revenue and strong adjusted EBITDA were achieved despite construction and macro headwinds. Major property expansions and renovations are underway, with stable trends expected and robust capital returns to shareholders.
Fiscal Year 2025
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Record revenue and EBITDA were achieved for both Q4 and the full year, driven by strong gaming and non-gaming operations, ongoing property expansions, and disciplined capital allocation. Despite near-term construction disruption, long-term growth prospects remain robust.
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Record Q3 revenue and EBITDA driven by strong Las Vegas locals' market performance, robust growth at Durango, and disciplined expense management. Ongoing property expansions and renovations are on track, with capital returns to shareholders and favorable tax benefits supporting future growth.
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Record Q2 results with all-time high revenue and Adjusted EBITDA, driven by strong gaming, hotel, and F&B performance. Major capital projects are on track, with ongoing renovations expected to cause near-term disruption but support long-term growth. Free cash flow and shareholder returns remain robust.
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Record Q1 revenue and EBITDA were driven by strong Las Vegas operations and Durango's growth, with capital returns to shareholders and major expansion projects underway. Construction and insurance costs are being managed, and the company remains confident in its resilient business model.
Fiscal Year 2024
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Record revenue and Adjusted EBITDA were achieved in both Q4 and full year, driven by strong Las Vegas operations and new customer growth at Durango. Significant capital projects and property enhancements are underway, with stable customer trends and positive group business momentum into 2025.
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Record Q3 revenue and EBITDA driven by strong Las Vegas operations and Durango's outperformance, despite margin compression and renovation-related headwinds. Major expansions and renovations are underway, with $194.8M returned to shareholders YTD.
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Record Q2 revenue and EBITDA driven by strong Las Vegas and Durango performance, with continued expansion and reinvestment in properties. Leverage remains manageable, capital returns to shareholders are robust, and positive demographic trends support long-term growth.