Red Rock Resorts Inc Stock Price, News & Analysis

Red Rock Resorts has entered into a definitive agreement to sell the Palms Casino Resort to a subsidiary of the San Manuel Band of Mission Indians for $650 million in cash, pending regulatory approvals. This strategic divestiture aims to streamline operations and enhance financial flexibility. Financial advisement for Red Rock is provided by Deutsche Bank Securities Inc., with legal representation from Milbank LLP. This transaction reflects Red Rock's commitment to focus on its core regional gaming and entertainment business.

Red Rock Resorts (NASDAQ: RRR) has announced that it will release its financial results for Q1 2021 on May 4, 2021. A conference call will follow at 4:30 p.m. ET to discuss these results, including prepared remarks and a Q&A session. Interested participants can join by dialing in or via a live audio webcast at the company's website. The call will also be available for replay until May 11, 2021.

Red Rock Resorts (RRR) reported financial results for Q4 and the full year 2020 amid COVID-19 challenges. Q4 net revenues were $343.4 million, down 25.5% year-over-year. However, net income increased to $49.6 million compared to $6.8 million in 2019. For the full year, revenues fell 36.3% to $1.2 billion, with a net loss of $174.5 million, compared to a loss of $6.7 million in 2019. Adjusted EBITDA for Q4 was $150.5 million, an increase of 9.4%, while the full year saw a decline to $368.5 million from $509 million. Cash at year-end was $121.2 million, with total debt at $2.9 billion.

Red Rock Resorts (NASDAQ: RRR) announced a conditional partial redemption of $250 million in 5.000% senior notes due 2025 by Station Casinos LLC. This redemption is subject to specific conditions and will be funded through cash on hand and borrowings from a revolving credit facility. Station Casinos operates numerous entertainment venues across Las Vegas, offering various amenities including restaurants and gaming options. The company emphasizes its leading position in the local market while noting that certain forward-looking statements may involve risks and uncertainties that could affect future results.

Red Rock Resorts will announce its fourth quarter and full year 2020 financial results on February 9, 2021, with a conference call scheduled at 4:30 p.m. ET. Investors can join the call via phone or access a live audio webcast on the company’s website.

The replay will be available until February 16, 2021. Red Rock Resorts owns and manages several casinos in Las Vegas, including Red Rock Casino Resort Spa and others, offering various entertainment options.

Red Rock Resorts (NASDAQ: RRR) reported Q3 2020 financial results with net revenues of $353.2 million, a 24.2% decline from $465.9 million in Q3 2019, primarily due to COVID-19 impacts. However, net income improved to $72.0 million, a significant increase from a net loss of $26.8 million year-over-year. Adjusted EBITDA rose 44.8% to $160.9 million, up from $111.1 million in Q3 2019. Las Vegas operations reported net revenues of $320.8 million, down 27.2%, while Native American operations saw 33.9% growth in adjusted EBITDA.

Red Rock Resorts has announced it will release its financial results for Q3 2020 on October 27, 2020. A conference call will be held that same day at 4:30 p.m. ET, featuring prepared remarks and a Q&A session. Interested parties can participate by dialing in or accessing a live audio webcast on their website. A replay will be available until November 3, 2020. Red Rock Resorts operates several gaming and entertainment venues in Las Vegas through its subsidiary, Station Casinos, which includes numerous well-known properties.

ACS PlayOn and Station Casinos have announced the rollout of the PlayOn Cashless Table Game Solution across Station Casinos properties in Las Vegas, following a successful field trial at Red Rock Casino Resort Spa. This cashless payment technology allows players to purchase casino chips using their debit cards directly at the game. Station Casinos aims to enhance the guest experience with a safe and convenient option amidst concerns over COVID-19. ACS PlayOn is also expanding its offerings to include slots, sports books, and poker rooms, following recent regulatory changes in Nevada.

Red Rock Resorts (NASDAQ: RRR) reported its Q2 2020 financial results, revealing a challenging period due to the COVID-19 pandemic. Net revenues plummeted by 77.5%, totaling $108.5 million, a decline of $374.4 million from Q2 2019. The company faced a net loss of $118.4 million, significantly greater than the $7.1 million loss in the previous year. Despite the adverse conditions, post-reopening operations showed some improvement, with adjusted EBITDA rising by 46.8% for the limited operational period in June. The company held $270.1 million in cash by June 30, 2020, against $3.3 billion in debt.