Red Rock Resorts' Shares Rise 1.1%

By Bobby Samwell • Wednesday, February 21 15:44 • Permanent Link

Red Rock Resorts, Inc. operates through two segments - Las Vegas Operations and Native American Management. The company owns and operates 6 gaming and entertainment facilities and 9 smaller casinos in the Las Vegas regional market. In addition, it manages Graton Resort & Casino in northern California. The company's net revenues for the year ended December 31, 2023, increased by 3.6% to $1.72 billion compared to the previous year. However, the operating income decreased by 0.5% to $558.7 million. The casino revenues increased by 0.5%, food and beverage revenues by 10.8%, room revenues by 11.3%, and other revenues by 8.4%. The company's interest expense, net increased by 39.4% to $181.0 million, and the net income attributable to Red Rock decreased by 14.3% to $176.0 million. Adjusted EBITDA for the year ended December 31, 2023, was $745.9 million, a slight increase from the previous year. The company's financial information also includes details about its holding company, including cash, income tax receivable, deferred tax assets, and liabilities. Today the company's shares have moved 1.1% to a price of $57.6. For more information, read the company's full 10-K submission here.

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