Red Rock Resorts reports $488.9m in revenue for Q1

The casino operator has posted a 12.7 per cent increase in revenue.

US.- Red Rock Resorts has published its first-quarter financial results. It reported revenue of $488.9m, 12.7 per cent higher than in the first quarter of 2023. Adjusted EBITDA was $209.1m, an increase of 7.7 per cent or $15m. Net income was $78.4m, down 8.4 per cent from $85.5m in the same period of 2023.

For Las Vegas operations, net revenue was $485.6m, an increase of 12.9 per cent from Q1 2023. Adjusted EBITDA was $229.8m, an increase of 7.3 per cent. Casino revenue rose 10 per cent, food and beverage 19.3 per cent and room revenue 20 per cent.

During an earnings call, Stephen Cootey, executive vice president and chief financial officer, expressed satisfaction with the performance of Durango and expressed optimism despite some cannibalisation at Red Rock Casino & Resort.