Red Rock Resorts releases respectable Q4 report

Strong growth in the fourth quarter caps a strong year overall.

Dynamo Las Vegas hospitality company Red Rock Resorts has released its fourth quarter 2021 numbers, neatly summing up the entire year’s achievements. Performance was strong for the company, and 2021 can indeed be thought as a year of resounding growth.  

The fourth quarter saw net revenue reach $422m, a 23% increase from the same period the year before. Income was up to $200m, an increase of a cool $150m from the prior year. All of this was good news for adjusted EBITDA: $188m, a year-on-year increase of 26%.  

With the fourth quarter results come the full year results. Over 2021, revenue from Red Rock’s Las Vegas operations came to $1.6bn, a 46% increase over the year before. Adjusted EBITDA from those Las Vegas operations stands at $786m. This was miles ahead of the $335m EBITDA seen in 2020.  

As far as cash on hand, the company had $275m available by December 31, 2021. Outstanding debt stood at $2.89bn.  

Among the bigger news from the quarter was Red Rock’s sale of the Palms Casino Resort to the San Manuel Band of Mission Indians. This move made San Manuel the first tribal operators to set up shop in Las Vegas.  

Despite whatever trouble the pandemic caused, most of Red Rock’s properties were able to continue operating, including Red Rock, Green Valley Ranch, Santa Fe Station, Boulder Station, Palace Station and Sunset Station.  

There were a few properties which did not manage to stay open. Among these were Texas Station, Fiesta Rancho and Fiesta Henderson.  

Cameron Saunders

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