Red Rock Resorts generates $1.94bn of revenue throughout FY2024

Red Rock Resorts has released its financial results for both the fourth quarter of 2024 and full-year (FY), including a net revenue of $1.94bn during FY2024, representing an increase of 12.5% year-over-year. 

While net revenue managed to increase, net income decreased by 13.8% from the prior year period, reporting a total of $291.3m throughout FY2024. The fall may be attributed to a rise in operating costs year-over-year, as expenses during FY2024 were nearly $205m greater when compared to FY2023. 

The company’s casino sector generated the most revenue during FY2024, accounting for nearly $1.3bn of the total revenue reported throughout the period. Food & beverage, room and other net revenues all increased from the prior year period, with food & beverage reporting the highest revenue total of the three with $360.4m generated during FY2024. 

Red Rock Resorts’ adjusted EBITDA also managed to see an increase year-over-year, rising by 6.7% for a total of $795.9m during FY2024. The company’s Las Vegas operations reported a FY2024 revenue of $1.93bn, good for an increase of 12.6% from the prior year period. The adjusted EBITDA of the Las Vegas operations increases by 7.4% year-over-year, reported to be $879.4m throughout FY2024. 

Good to know: Red Rock Resorts’ Board of Directors declared a cash dividend of $0.25 per Class A common share for the first quarter of 2025, which will be payable on March 31 to all stockholders

Similar results were recorded for Q4 2024 by Red Rock Resorts, as the company’s net revenue and adjusted EBITDA increased from the prior year period, but net income decreased by 19.5% year-over-year for a total of $87.7m. Net revenue generated during Q4 2024 was reported to be $495.7m, while adjusted EBITDA was $202.4m, representing increases of 7.1% and 0.5%, respectively. 

Despite the decrease in net income, Red Rock Resorts’ operating income for FY2024 increased by 1.7% year-over-year for a total of $571.1m, while operating income during Q4 2024 was $142.7m, representing a decrease of 17.4% from the prior year period. 

Las Vegas operations still managed to increase its revenue for Q4 2024 by 7.2% year-over-year, reported to be $492.6m throughout the period.

Kirk Geller

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