Red Rock Resorts reports $353m in Q3 revenue
Red Rock Resorts has reported $353m in Q3 revenue, a 24% year-on-year decline.
The parent company of Stations Casinos recorded quarterly net income of $72m, an increase of $99m from a net loss of $27m for Q3 2019.
Adjusted EBITDA amounted to $161m, an increase of 45%.
The company’s reopened Las Vegas properties produced net revenue of $321m, down 27%. Red Rock operates 20 properties across the Las Vegas Valley and four remain closed, including Palms.
Red Rock is uncertain when it will reopen the closed properties.
The company is preparing to begin construction on a tribal casino near Fresno, California in the second quarter of 2021. The 213,000-square-foot casino is a joint partnership with the North Fork Rancheria of Mono Indians.
Red Rock’s tribal operations resulted in adjusted EBITDA of $30m for Q3, up 34% from a year ago.
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