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.
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.
Red Rock Resorts plans to release its second quarter 2020 financial results on August 4, 2020, followed by a conference call at 4:30 p.m. ET. Investors can join by calling (888) 317-6003 or through a live webcast. The replay will be available until August 11, 2020. Red Rock Resorts operates Station Casinos, a leading gaming provider in Las Vegas, with numerous properties offering various entertainment options.
Red Rock Resorts, Inc. announced the passing of President Richard J. Haskins in a watercraft accident on July 4, 2020. He played a pivotal role in the company's growth over 25 years, described as a trusted advisor and brilliant strategist. The Board of Directors plans to announce a succession strategy soon. CEO Frank Fertitta praised Haskins' significant contributions and expressed deep condolences to his family.