Welcome to our dedicated page for Red Rock Resorts news (Ticker: RRR), a resource for investors and traders seeking the latest updates and insights on Red Rock Resorts stock.
Red Rock Resorts, Inc. reports recurring developments tied to its casino, entertainment, development and management business in the Las Vegas valley. Company updates center on quarterly and annual operating results, Las Vegas operations, Adjusted EBITDA, net income, casino-related revenue categories, and management or development fee activity connected to Native American operations.
News also covers scheduled earnings releases and conference calls, cash dividends on Class A common stock, and market-index classification changes. The recurring business focus is the performance of casino properties that combine gaming with dining, rooms and entertainment offerings.
Red Rock Resorts reported second-quarter 2022 financial results, with net revenues at $422.2 million, down 1% from $428.2 million in Q2 2021.
Net income decreased significantly by $110.9 million to $32.4 million, while Adjusted EBITDA fell 10% to $188.9 million compared to the prior year.
Las Vegas operations mirrored this trend, with revenues and EBITDA both declining.
The Company declared a quarterly dividend of $0.25 per share, payable on September 30, 2022.
Red Rock Resorts (NASDAQ: RRR) is set to release its second quarter 2022 financial results on August 9, 2022, followed by a conference call at 4:30 p.m. ET. Interested participants should dial in by 4:15 p.m. ET. A live audio webcast will also be available on the company's website. A replay will be accessible until August 16, 2022. Red Rock Resorts holds an indirect equity interest in Station Casinos, a leading provider of gaming and entertainment in Las Vegas.
Red Rock Resorts reported strong financial results for Q1 2022, with net revenues of $401.6 million, a 14% increase from $352.6 million in Q1 2021. The company achieved net income of $92.2 million, a significant turnaround from a net loss of $106.6 million in the same quarter last year. Adjusted EBITDA rose to $178.7 million, up 14%. Las Vegas operations generated net revenues of $399.7 million and Adjusted EBITDA of $194.6 million, marking increases of 17% and 21%, respectively. The Board declared a cash dividend of $0.25 per share for Q2 2022.
Red Rock Resorts, Inc. (NASDAQ: RRR) will release its financial results for Q1 2022 on May 3, 2022, followed by a conference call at 4:30 p.m. ET. Participants can join the call by dialing (888) 317-6003 or tuning into the live audio webcast at www.redrockresorts.com. A replay will be available until May 10, 2022. Red Rock Resorts manages Station Casinos, a key provider of gaming and entertainment in Las Vegas, operating multiple casinos and entertainment venues.
Red Rock Resorts (NASDAQ: RRR) announced the appointment of Scott Kreeger as President effective February 28, 2022. Kreeger previously served as Senior VP of Development since September 2021 after returning from Galaxy Entertainment Group. His extensive experience includes key roles at Station Casinos and Revel Resort and Casino, positioning him as a competent leader for the company’s future growth. Frank Fertitta III, Chairman and CEO, expressed confidence in Kreeger’s proven leadership and deep industry knowledge.
Red Rock Resorts (NASDAQ: RRR) reported robust financial results for Q4 and full year 2021. Q4 net revenues reached $422.4 million, a 23% increase year-over-year, while net income soared to $200.1 million from $49.6 million in 2020. Full year revenues were $1.6 billion, up 37%, with net income bouncing back to $354.8 million from a loss of $174.5 million in 2020. Las Vegas operations also performed well, contributing $420.5 million in Q4 revenues, a 33% increase.
Red Rock Resorts, Inc. (NASDAQ: RRR) announced its fourth quarter and full year 2021 financial results will be released on February 2, 2022. A conference call to discuss these results is scheduled for 4:30 p.m. ET on the same day, featuring prepared remarks and a Q&A session. Interested parties can listen in via phone or a live webcast available on the company's website. A replay will be accessible until February 9, 2022. Red Rock Resorts oversees a range of gaming and entertainment offerings in Las Vegas through its subsidiary Station Casinos.
Red Rock Resorts, Inc. (RRR) announced the final results of its modified Dutch auction tender offer, which expired on December 9, 2021. A total of 6,884,858 shares were tendered at or below the purchase price of $51.50 per share, representing approximately 10.08% of the outstanding shares. The total cost for the purchase was approximately $354.6 million, excluding fees. All properly tendered shares were accepted without proration. BofA Securities acted as the dealer manager for the offer.
Red Rock Resorts (RRR) announced preliminary results of its modified Dutch auction tender offer, which expired on December 9, 2021. A total of 6,921,149 shares were tendered at or below $51.50 each, with an estimated total cost of approximately $356.4 million. This represents around 10.13% of total outstanding shares. The final number of shares and purchase price are subject to confirmation by the Depositary and will be announced after the settlement period. BofA Securities acted as the dealer manager for this tender offer.
Red Rock Resorts, Inc. (NASDAQ: RRR) announced that its subsidiary, Station Casinos LLC, has priced a $500 million offering of senior notes due 2031 with a 4.625% interest rate. The offering is set to close on or around November 26, 2021. Proceeds from the notes will facilitate a distribution of approximately $344 million to LLC interest holders, fund a $350 million common stock buyback, and cover related fees and general corporate expenses. These notes will not be registered under the Securities Act and will be sold to qualified buyers in compliance with relevant regulations.