Red Rock Resorts’ net income grows 55.1% year-over-year to $108.3m in Q2 2025

Throughout the second quarter of 2025, Red Rock Resorts managed to generate a net income of $108.3m for the period, representing an increase of 55.1% year-over-year, while revenue from its Las Vegas operations grew by 6.2% from the prior year period to $513.3m. 

In total, the operator reported a Q2 2025 revenue of $526.3m, equating to an increase of 8.2% year-over-year, as Red Rock Resorts also reported adjusted EBITDA growth of 13.7% from the prior year period for a total of $229.4m. 

Along with its increase in revenue throughout Q2 2025, the operator’s Las Vegas operations also witnessed a rise in adjusted EBITDA of 7.3% year-over-year for a total of $239.4m. 

Net revenues and adjusted EBITDA from Native American management activities was reported to be $10m for the second quarter of 2025, representing what Red Rock Resorts described as a “cumulative revenue catch-up related to development fees.”

As of June 30, 2025, Red Rock Resorts’ cash and cash equivalents totaled $145.2m, while the operator’s amount of debt outstanding at the end of Q2 2025 was $3.4bn. 

The $526.3m of net revenue generated by Red Rock Resorts for the second quarter of 2025 was primarily driven by casino operations, which accounted for $344.8m of revenue throughout the period and increased by 7.9% year-over-year. 

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Food & beverage and room operations reported Q2 2025 revenues of nearly $94.4m and $51.2m, respectively, equating to increases of 2.9% and 2.1% from the prior year period. Red Rock Resorts also managed to grow its operating income by 19.8% year-over-year to just over $168m for Q2 2025. 

While the operator managed to report increases in net income, revenue and adjusted EBITDA for the second quarter of 2025, its operating expenses throughout the period also rose by 3.5% from the prior year period for a total of $358.2m. The majority of expenses stemmed from selling, general and administrative which accounted for just over $112m, while casino operations also cost an additional $93.9m for Q2 2025. 

Kirk Geller

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