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Red Rock Resorts, Inc. (NASDAQ: RRR) is a prominent player in the casino entertainment and gaming industry in the United States. Through its interests in Station Holdco and Station LLC, the company develops, manages, and operates casino entertainment properties, primarily in the Las Vegas regional market and Northern California.Red Rock Resorts operates under two segments: Las Vegas Operations and Native American Management. The company boasts ownership and operation of 10 large gaming and entertainment facilities and 10 smaller casinos in the Las Vegas area. Additionally, it manages the Graton Resort & Casino in Northern California. With approximately 20,400 slot machines, 375 table games, and 5,000 hotel rooms, Red Rock Resorts offers a comprehensive and diverse range of gaming and entertainment options.
Founded in 1976 and initially known as Station Casinos Corp., the company rebranded to Red Rock Resorts, Inc. in January 2016. Red Rock Resorts is headquartered in Las Vegas, Nevada, and remains a pivotal entity in the region's hospitality and gaming sectors. The company derives most of its revenue from its casino operations, supplemented by various amenities such as numerous restaurants, entertainment venues, movie theaters, bowling, and convention/banquet space.
Recent achievements include the release of their financial results for the third quarter of 2023 on November 7, 2023, and subsequent financial updates, including a cash dividend announcement. Furthermore, Red Rock Resorts has declared a special dividend and announced strategic partnerships, such as the one with Sparket, which launched on its STN Play iCasino platform in June 2023.
The company's financial health shows cash and cash equivalents of $137.6 million as of December 31, 2023, with total debt of $3.4 billion. The Board of Directors has declared quarterly and special dividends, indicating robust financial strategies and shareholder returns.
Red Rock Resorts continues to expand its footprint through strategic investments and partnerships. Recent endeavors include offering $750 million aggregate principal amount of senior notes due 2032, aimed at refinancing existing loans and funding general corporate purposes.
For more information, visit the company's website at www.redrockresorts.com.
Red Rock Resorts reported Q2 2021 financial results, showing a significant recovery from the COVID-19 pandemic. Net revenues reached $428.2 million, a 295% increase from $108.5 million in Q2 2020, though down 11% from $482.9 million in Q2 2019. Net income was $143.4 million, improving from a loss of $118.4 million year-over-year. Adjusted EBITDA surged to $210.2 million, up from a negative $17.3 million in 2020, yet increased only 82% compared to 2019. The company ended Q2 2021 with $91 million in cash against $2.7 billion in debt.
Red Rock Resorts, Inc. (NASDAQ: RRR) is set to release its financial results for the second quarter of 2021 on July 28, 2021. The company will host a conference call at 4:30 p.m. ET on the same day to discuss the results, featuring prepared remarks and a Q&A session. Interested participants can join by calling in 15 minutes earlier, with options for both domestic and international dialing. A replay of the call will be available until August 4, 2021. Red Rock Resorts manages Station Casinos, a key provider of gaming in Las Vegas.
Red Rock Resorts (NASDAQ: RRR) reported its Q1 2021 financial results, revealing net revenues of $352.6 million, a 6.6% decline from $377.4 million in Q1 2020, largely due to COVID-19 impacts. The company experienced a net loss of $106.6 million, an improvement from a loss of $177.8 million in Q1 2020. However, Adjusted EBITDA rose significantly to $156.6 million, marking a 110.8% increase year-over-year. Notably, Red Rock announced plans to sell the Palms Casino Resort for $650 million, pending regulatory approvals. The company's cash and equivalents stood at $117.9 million against $2.9 billion in total debt.
Red Rock Resorts has entered into a definitive agreement to sell the Palms Casino Resort to a subsidiary of the San Manuel Band of Mission Indians for $650 million in cash, pending regulatory approvals. This strategic divestiture aims to streamline operations and enhance financial flexibility. Financial advisement for Red Rock is provided by Deutsche Bank Securities Inc., with legal representation from Milbank LLP. This transaction reflects Red Rock's commitment to focus on its core regional gaming and entertainment business.
Red Rock Resorts (NASDAQ: RRR) has announced that it will release its financial results for Q1 2021 on May 4, 2021. A conference call will follow at 4:30 p.m. ET to discuss these results, including prepared remarks and a Q&A session. Interested participants can join by dialing in or via a live audio webcast at the company's website. The call will also be available for replay until May 11, 2021.
Red Rock Resorts (RRR) reported financial results for Q4 and the full year 2020 amid COVID-19 challenges. Q4 net revenues were $343.4 million, down 25.5% year-over-year. However, net income increased to $49.6 million compared to $6.8 million in 2019. For the full year, revenues fell 36.3% to $1.2 billion, with a net loss of $174.5 million, compared to a loss of $6.7 million in 2019. Adjusted EBITDA for Q4 was $150.5 million, an increase of 9.4%, while the full year saw a decline to $368.5 million from $509 million. Cash at year-end was $121.2 million, with total debt at $2.9 billion.
Red Rock Resorts (NASDAQ: RRR) announced a conditional partial redemption of $250 million in 5.000% senior notes due 2025 by Station Casinos LLC. This redemption is subject to specific conditions and will be funded through cash on hand and borrowings from a revolving credit facility. Station Casinos operates numerous entertainment venues across Las Vegas, offering various amenities including restaurants and gaming options. The company emphasizes its leading position in the local market while noting that certain forward-looking statements may involve risks and uncertainties that could affect future results.
Red Rock Resorts will announce its fourth quarter and full year 2020 financial results on February 9, 2021, with a conference call scheduled at 4:30 p.m. ET. Investors can join the call via phone or access a live audio webcast on the company’s website.
The replay will be available until February 16, 2021. Red Rock Resorts owns and manages several casinos in Las Vegas, including Red Rock Casino Resort Spa and others, offering various entertainment options.
Red Rock Resorts (NASDAQ: RRR) reported Q3 2020 financial results with net revenues of $353.2 million, a 24.2% decline from $465.9 million in Q3 2019, primarily due to COVID-19 impacts. However, net income improved to $72.0 million, a significant increase from a net loss of $26.8 million year-over-year. Adjusted EBITDA rose 44.8% to $160.9 million, up from $111.1 million in Q3 2019. Las Vegas operations reported net revenues of $320.8 million, down 27.2%, while Native American operations saw 33.9% growth in adjusted EBITDA.
Red Rock Resorts has announced it will release its financial results for Q3 2020 on October 27, 2020. A conference call will be held that same day at 4:30 p.m. ET, featuring prepared remarks and a Q&A session. Interested parties can participate by dialing in or accessing a live audio webcast on their website. A replay will be available until November 3, 2020. Red Rock Resorts operates several gaming and entertainment venues in Las Vegas through its subsidiary, Station Casinos, which includes numerous well-known properties.
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