Red Rock Resorts reported third quarter earnings Tuesday that showed year-over-year gains in revenue, income, and adjusted EBITDA.
Net revenue was $475.6 million for the third quarter, an increase of 1.6% or $7.6 million from $468 million in the same period of 2024. Net income was $76.9 million for the third quarter, an increase of 38.8% or $21.5 million from $55.4 million in the same period of 2024.
Adjusted EBITDA was $190.9 million for the third quarter, an increase of 4.5% or $8.2 million from $182.7 million in the same period of 2024.
Net revenue from Las Vegas operations was $468.6 million for the third quarter, an increase of 0.8% or $3.9 million, from $464.7 million in the same period of 2024.
Adjusted EBITDA from Las Vegas operations was $209.4 million for the third quarter, an increase of 3.4% or $6.8 million from $202.6 million in the same period of 2024.
Net revenue and adjusted EBITDA from Native American activities were $3.9 million for the third quarter, representing revenue-related to development fees.
The company’s cash and cash equivalents on September 30 were $129.8 million and total principal amount of debt outstanding at the end of the third quarter was $3.4 billion.
The company’s Board of Directors has declared a cash dividend of $0.26 per Class A common share for the fourth quarter of 2025. The dividend will be payable on December 31 to all stockholders of record as of the close of business on December 15.
The company’s Board of Directors has authorized an additional $300 million under the company’s existing $600 million share repurchase program and an extension of the repurchase program from December 31, 2025 to December 31, 2027.