Summary
- Red Rock Resorts has announced its financial results for the first quarter of 2025.
- The company reported a year-over-year revenue increase of nearly 2% for the most recent trading period.
- In the first quarter of 2025, Red Rock Resorts reported a significant rise in casino revenue.
Red Rock Resorts, a leading developer and operator of gaming and entertainment properties, has released its latest financial update. The company revealed its financial performance for the first quarter, covering the three months ending March 31, 2025.
Net revenue increases by nearly 2% in Q1
According to the recent unaudited report, Red Rock Resorts achieved net revenues of $497.9 million in the third quarter. This marks an increase of $9.0 million, or 1.8%, compared to the same period in 2024. Meanwhile, the company reported a net income of $86.0 million for the first quarter of 2025. This represents a year-over-year increase of $7.6 million, or 9.7%, compared to the first quarter of 2024. Additionally, Red Rock Resorts' adjusted EBITDA also saw growth. In the first quarter of 2024, this figure was $209.1 million. In the most recent quarter, it rose by $5.9 million, or 2.8%, to reach $215.1 million.
Casino revenue grows
In the first quarter of this year, the total net revenues report highlights a significant rise in the casino segment. Casino revenue for the three months ending March 31, 2025, reached $333.2 million. This represents an increase of over $16 million compared to the $316.9 million reported during the same period in 2024. While the casino segment saw growth, Red Rock Resorts experienced a decline in food and beverage revenue for the first quarter. This segment reported earnings of $89.3 million, falling short of last year's $93.3 million for the same period. Additionally, revenue from hotel rooms and other operations experienced a slight decrease, ending at $50.1 million and $25.2 million, respectively, for this year's first quarter. Red Rock Resorts shared details of its Las Vegas operations, where total revenues reached $495 million in Q1, marking a $9.4 million or 1.9% increase year-over-year. Additionally, the company's adjusted EBITDA from Las Vegas operations increased by $6.1 million or 2.7% year-over-year, totaling $235.9 million.
