Red Rock Resorts reports $486.4m in consolidated net revenue for Q2 2024
As the holding company that operates Station Casinos, most Red Rock Resorts business is managed in Las Vegas, Nevada.
Red Rock Resorts has reported its financial results for the second quarter of 2024, having ended June 30. The report includes net revenues and income from its consolidated operations as well as operations in Las Vegas where the company manages its Station Casinos properties.
Beginning with consolidated operations, net revenue for Q2 2024 was $486.4m, an increase of 16.9% year-over-year. Adjusted EBITDA also increased from Q2 2023, going from $175.3m to $201.7m during the second quarter of 2024, but net income decreased 6.8% year-over-year with a reported total of $69.8m for Q2 2024.
In Las Vegas, Red Rock Resorts manages many different hotel and resort properties within the Station Casinos company, including its newest Durango Casino and Resort location, opened in December.
Station Casinos also owns and operates Red Rock Resort and Casino, Green Valley Ranch Resort and Casino, Palace Station Hotel and Casino, Boulder Station Hotel and Casino and Sunset Station Hotel and Casino, covering the Las Vegas local areas of Summerlin, Henderson and Boulder City.
Net revenues from Red Rock Resorts’ Las Vegas operations increased 17.1% for a reported total of $483.2m for Q2 2024. Adjusted EBITDA from Las Vegas operations for Q2 2024 was $223.1m, an increase from the $193.1m reported for the comparable period.
The company’s cash equivalents as of June 30 were $136.4m and total principal amount of debt outstanding at the end of the second quarter was $3.5bn.
Station Casinos also announced plans to expand upon the newly opened Durango Casino and Resort property in June. The company has stated that it wants to add a new parking garage, as well as build a new casino area on its existing property.
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