Sunday, November 10, 2024 Red Rock Resorts has released its third-quarter financial results for the period ending September 30, 2024, revealing strong revenue growth but a decline in net income compared to the same quarter last year. Red Rock Resorts reported a consolidated net revenue of $468.0 million for Q3 2024, reflecting a 13.
7% increase over the $411.6 million recorded in Q3 2023. Despite this revenue growth, net income declined to $55.
4 million, down 19.0% from $68.4 million in the previous year.
The company’s adjusted EBITDA—a key indicator of operating performance—reached $182.7 million, a 4.3% gain from the $175.
2 million reported in Q3 2023. The Las Vegas segment continues to anchor Red Rock Resorts’ growth, generating $464.7 million in revenue for Q3 2024, up 13.
9% from $408.0 million in the prior year. Adjusted EBITDA from Las Vegas operations rose 5.
8%, reaching $202.6 million, underscoring Red Rock’s solid footprint and performance within this competitive market. By the close of Q3 2024, Red Rock Resorts held $117.
5 million in cash and cash equivalents, balanced by total outstanding debt of $3.5 billion. This financial posture reflects the company’s commitment to maintaining liquidity and managing debt responsibly to support its growth initiatives.
The Board of Directors declared a cash dividend of $0.25 per Class A common share for the fourth quarter of 2024. This dividend, scheduled for distribution on December 31, 2024, to shareholders on record.