Red Rock Resorts Announces Second Quarter 2026 Results

Rhea-AI Summary

Red Rock Resorts (NASDAQ: RRR) reported second quarter 2026 net revenues of $510.3 million, down 3.0% from $526.3 million in 2025. Net income declined 29.3% to $76.6 million and Adjusted EBITDA fell 9.3% to $208.0 million.

Las Vegas operations generated net revenues of $503.2 million, a 2.0% decrease, with Adjusted EBITDA down 5.0% to $227.5 million. Native American activities saw sharper contractions, with net revenues of $3.8 million, down 62.0%, and Adjusted EBITDA of $2.8 million, down 72.0% year over year.

As of June 30, 2026, cash and cash equivalents were $136.5 million and total debt principal was $3.6 billion. The board declared a quarterly cash dividend of $0.26 per Class A share, payable September 30, 2026, to stockholders of record on September 15, 2026.

Positive

• Adjusted EBITDA Q2 2026 of $208.0 million, despite YoY decline
• Operating income Q2 2026 of $136.0 million from consolidated operations
• Quarterly dividend of $0.26 per Class A share declared for Q2 2026
• Cash balance of $136.5 million as of June 30, 2026
• Interest expense, net slightly lower at $49.6 million vs. $50.6 million

Negative

• Net revenues Q2 2026 down 3.0% to $510.3 million
• Net income Q2 2026 down 29.3% to $76.6 million
• Adjusted EBITDA Q2 2026 down 9.3% to $208.0 million
• Las Vegas Adjusted EBITDA down 5.0% to $227.5 million
• Native American net revenues down 62.0% to $3.8 million
• Native American Adjusted EBITDA down 72.0% to $2.8 million

News Explained

Before paying the declared $0.26-per-share Class A dividend on September 30, 2026, Station Holdco will distribute approximately $29.0 million to its unit holders, including approximately $17.1 million to Red Rock Resorts and $11.9 million to other holders.

Market Context

The earnings history included an average move of -1.41% across tagged events, adding a negative hist...

Analysis

The earnings history included an average move of -1.41% across tagged events, adding a negative historical reference to this quarter's declines. Current low short positioning was secondary context; operating trends could be compared with prior quarterly outcomes.

Key Figures

Net revenues: $510.3 million Net income: $76.6 million Adjusted EBITDA: $208.0 million +4 more

7 metrics

Net revenues $510.3 million Q2 2026, down 3.0% year over year

Net income $76.6 million Q2 2026, down 29.3% year over year

Adjusted EBITDA $208.0 million Q2 2026, down 9.3% year over year

Cash and equivalents $136.5 million At June 30, 2026

Debt outstanding $3.6 billion Total principal amount at Q2 2026 end

Quarterly dividend $0.26 per Class A common share Q2 2026 dividend payable September 30, 2026

Diluted EPS $0.67 Q2 2026 versus $0.95 in Q2 2025

Previous Earnings Reports

5 past events · Latest: Apr 29 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 29	First-quarter earnings	Positive	-3.8%	Revenue increased year over year, but the stock declined 3.75% over 24 hours.
Feb 10	Full-year earnings	Positive	-2.9%	Full-year revenue, net income, and EBITDA increased, while shares fell 2.87%.
Oct 28	Third-quarter earnings	Positive	-11.7%	Quarterly revenue, net income, and EBITDA increased, but shares dropped 11.73%.
Jul 30	Peer earnings	Positive	+2.2%	VICI reported revenue and AFFO growth alongside a 2.23% positive reaction.
Jul 29	Second-quarter earnings	Positive	+9.1%	Prior-year quarterly revenue, net income, and EBITDA growth accompanied a 9.09% gain.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

In tag-specific history, three of five earnings events diverged from positive fundamentals, while two aligned with positive reactions.

Key Terms

adjusted ebitda, non-gaap, derivative instruments, weighted-average common shares outstanding

4 terms

adjusted ebitda financial

"Adjusted EBITDA(1) was $208.0 million for the second quarter of 2026"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

non-gaap financial

"Adjusted EBITDA is a non-GAAP measure that is presented solely as a supplemental disclosure"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

derivative instruments technical

"Change in fair value of derivative instruments"

Contracts whose value is tied to the price or performance of something else—like a stock, bond, commodity, currency or market index. Think of them as a bet or an insurance policy that lets investors gain exposure, hedge risk, or speculate without owning the asset itself; their use can amplify gains or losses and affect a portfolio’s risk profile, liquidity and potential returns.

weighted-average common shares outstanding financial

"Weighted-average common shares outstanding"

Weighted-average common shares outstanding is the average number of a company’s common shares that were available during a reporting period, adjusted for shares issued, repurchased, or converted so the count reflects time-weighted changes. Think of it like averaging how many slices of a pie were on the table over a meal: it makes per-share measures such as earnings per share meaningful and comparable by accounting for changes in the share count, which affects investor ownership and valuation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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LAS VEGAS, Aug. 4, 2026 /PRNewswire/ -- Red Rock Resorts, Inc. ("Red Rock Resorts," "we" or the "Company") (NASDAQ: RRR) today reported financial results for the second quarter ended June 30, 2026.

Second Quarter Results

Consolidated Operations

• Net revenues were $510.3 million for the second quarter of 2026, a decrease of 3.0%, or $16.0 million, from $526.3 million in the same period of 2025.
  
  
• Net income was $76.6 million for the second quarter of 2026, a decrease of 29.3%, or $31.7 million, from $108.3 million in the same period of 2025.
  
  
• Adjusted EBITDA⁽¹⁾ was $208.0 million for the second quarter of 2026, a decrease of 9.3%, or $21.4 million, from $229.4 million in the same period of 2025.

Las Vegas Operations

• Net revenues from Las Vegas operations were $503.2 million for the second quarter of 2026, a decrease of 2.0%, or $10.1 million, from $513.3 million in the same period of 2025.
  
  
• Adjusted EBITDA from Las Vegas operations was $227.5 million for the second quarter of 2026, a decrease of 5.0%, or $11.9 million, from $239.4 million in the same period of 2025.

Native American

• Net revenues from Native American activities were $3.8 million for the second quarter of 2026, a decrease of 62.0%, or $6.2 million, from $10.0 million in the same period of 2025.
  
  
• Adjusted EBITDA from Native American activities was $2.8 million, a decrease of 72.0%, or $7.2 million, from $10.0 million in the same period of 2025.

Balance Sheet Highlights

The Company's cash and cash equivalents at June 30, 2026 were $136.5 million and total principal amount of debt outstanding at the end of the second quarter was $3.6 billion.

Quarterly Dividend

The Company's Board of Directors has declared a cash dividend of $0.26 per Class A common share for the second quarter of 2026. The dividend will be payable on September 30, 2026 to all stockholders of record as of the close of business on September 15, 2026.

Prior to the payment of such dividend, Station Holdco LLC ("Station Holdco") will make a cash distribution to all unit holders of record, including the Company, of $0.26 per unit for a total distribution of approximately $29.0 million, approximately $17.1 million of which is expected to be distributed to the Company and approximately $11.9 million of which is expected to be distributed to the other unit holders of record of Station Holdco.

Conference Call Information 

The Company will host a conference call today at 4:30 p.m. Eastern Time to discuss its financial results. The conference call will consist of prepared remarks from the Company and include a question and answer session. Those interested in participating in the call should dial (888) 317-6003, or (412) 317-6061 for international callers, approximately 15 minutes before the call start time. Please use the passcode: 6067582. A replay of the call will be available from today through August 11, 2026 at www.redrockresorts.com. A live audio webcast of the call will also be available at www.redrockresorts.com.

Presentation of Financial Information

(1) Adjusted EBITDA is a non-GAAP measure that is presented solely as a supplemental disclosure. We believe that Adjusted EBITDA is a widely used measure of operating performance in our industry and is a principal basis for valuation of gaming companies. We believe that in addition to net income, Adjusted EBITDA is a useful financial performance measurement for assessing our operating performance because it provides information about the performance of our ongoing core operations. Adjusted EBITDA for the three and six months ended June 30, 2026 and 2025 includes net income plus depreciation and amortization, share-based compensation, write-downs and other, net (including gains and losses on asset disposals, preopening and development, business innovation and technology enhancements and non-routine items), interest expense, net, change in fair value of derivative instruments, gain on Native American development and provision for income tax.

Company Information and Forward Looking Statements

Red Rock Resorts is a holding company that owns an indirect equity interest in and manages Station Casinos LLC ("Station Casinos"). Station Casinos is the leading provider of gaming, hospitality and entertainment to the residents of Las Vegas, Nevada. Station Casinos' properties, which are located throughout the Las Vegas valley, are regional entertainment destinations and include hotels as well as various amenities, including numerous restaurants, entertainment venues, movie theaters, bowling and convention/banquet space, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering. Station Casinos owns and operates Red Rock Casino Resort Spa, Green Valley Ranch Resort Spa Casino, Durango Resort & Casino, Palace Station Hotel & Casino, Boulder Station Hotel & Casino, Sunset Station Hotel & Casino, Santa Fe Station Hotel & Casino, Wildfire Rancho, Wildfire Boulder, Wildfire Sunset, Wildfire Valley View, Wildfire Anthem, Wildfire Lake Mead, Wildfire on Fremont and Seventy Six by Station Casinos (North Lamb, Aliante, Union Village, Tropicana, Fort Apache, and Park Highlands). Station Casinos also owns a 50% interest in Barley's Casino & Brewing Company, Wildfire Casino & Lanes and The Greens.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, without limitation, statements regarding our expectations, hopes or intentions regarding the future. These forward-looking statements can often be identified by their use of words such as "will", "might", "predict", "continue", "forecast", "expect", "believe", "anticipate", "outlook", "could", "would", "target", "project", "intend", "plan", "seek", "estimate", "pursue", "should", "may" and "assume", or the negative thereof, as well as variations of such words and similar expressions referring to the future. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. Certain important factors, including but not limited to, financial market risks, could cause our actual results to differ materially from those expressed in our forward-looking statements. Further information on potential factors which could affect our financial condition, results of operations and business includes, without limitation, the impact of rising inflation, higher interest rates and increased energy costs on consumer demand and the Company's business, financial results and liquidity; the impact of unemployment and changes in general economic conditions on discretionary spending and consumer demand; the impact of our substantial indebtedness; the effects of local and national economic, credit and capital market conditions on consumer spending and the economy in general, and on the gaming and hotel industries in particular; the effects of competition, including locations of competitors and operating and market competition; changes in laws, including increased tax rates, regulations or accounting standards, third-party relations and approvals, and decisions of courts, regulators and governmental bodies; risks associated with construction projects, including disruption of our operations, shortages of materials or labor, unexpected costs, unforeseen permitting or regulatory issues and weather; litigation outcomes and judicial actions, including gaming legislative action, referenda and taxation; acts of war or terrorist incidents, pandemics, natural disasters or civil unrest; risks associated with the collection and retention of data about our customers, employees, suppliers and business partners; and other risks discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in the Company's other current and periodic reports filed from time to time with the Securities and Exchange Commission. All forward-looking statements in this document are made based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.

View source version on http://redrockresorts.investorroom.com/:

Investors:
Stephen L. Cootey
Stephen.Cootey@redrockresorts.com
(702) 495-4214

Media:
Michael J. Britt
Michael.Britt@redrockresorts.com
(702) 495-3693

Red Rock Resorts, Inc.
Condensed Consolidated Statements of Income
(amounts in thousands, except per share data)
(unaudited)
	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Operating revenues:
Casino	$         338,305		$         344,796		$         678,827		$         678,041
Food and beverage	93,033		94,374		183,356		183,646
Room	46,658		51,187		92,172		101,357
Native American management and development fees	3,806		10,008		8,543		10,008
Other	28,460		25,908		54,683		51,082
Net revenues	510,262		526,273		1,017,581		1,024,134
Operating costs and expenses:
Casino	90,239		93,862		181,469		183,275
Food and beverage	78,699		75,894		152,886		149,655
Room	15,845		15,941		31,449		31,930
Other	9,983		8,519		17,683		15,762
Selling, general and administrative	117,936		112,031		232,293		216,742
Depreciation and amortization	58,985		47,988		114,840		96,319
Write-downs and other, net	2,579		4,010		7,289		8,070
	374,266		358,245		737,909		701,753
Operating income	135,996		168,028		279,672		322,381
Earnings from joint ventures	637		610		1,344		1,322
Operating income and earnings from joint ventures	136,633		168,638		281,016		323,703
Other (expense) income:
Interest expense, net	(49,645)		(50,632)		(99,149)		(101,742)
Change in fair value of derivative instruments	3,087		(2,305)		4,053		(7,499)
Gain on Native American development	—		8,476		—		8,476
Income before income tax	90,075		124,177		185,920		222,938
Provision for income tax	(13,483)		(15,924)		(26,608)		(28,735)
Net income	76,592		108,253		159,312		194,203
Less: net income attributable to noncontrolling interests	37,474		51,849		77,305		93,050
Net income attributable to Red Rock Resorts, Inc.	$           39,118		$           56,404		$           82,007		$         101,153
Earnings per common share:
Earnings per share of Class A common stock, basic	$              0.68		$              0.96		$              1.41		$              1.71
Earnings per share of Class A common stock, diluted	$              0.67		$              0.95		$              1.40		$              1.69
Weighted-average common shares outstanding:
Basic	57,888		58,960		58,045		59,081
Diluted	58,805		102,730		59,086		103,060
Dividends declared per common share	$0.26		$1.25		$1.52		$1.50

 

Red Rock Resorts, Inc.
Segment Information and Reconciliation of Net Income to Adjusted EBITDA
(amounts in thousands)
(unaudited)
	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net revenues
Las Vegas operations	$         503,158		$         513,262		$      1,002,680		$      1,008,215
Native American	3,806		10,008		8,543		10,008
Corporate and other	3,298		3,003		6,358		5,911
Net revenues	$         510,262		$         526,273		$      1,017,581		$      1,024,134
Net income	$           76,592		$         108,253		$         159,312		$         194,203
Adjustments
Depreciation and amortization	58,985		47,988		114,840		96,319
Share-based compensation	9,847		8,723		17,527		16,347
Write-downs and other, net	2,579		4,010		7,289		8,070
Interest expense, net	49,645		50,632		99,149		101,742
Change in fair value of derivative instruments	(3,087)		2,305		(4,053)		7,499
Gain on Native American development	—		(8,476)		—		(8,476)
Provision for income tax	13,483		15,924		26,608		28,735
Adjusted EBITDA	$         208,044		$         229,359		$         420,672		$         444,439
Adjusted EBITDA
Las Vegas operations	$         227,534		$         239,444		$         459,951		$         475,344
Native American	2,811		10,008		5,734		10,008
Corporate and other	(22,301)		(20,093)		(45,013)		(40,913)
Adjusted EBITDA	$         208,044		$         229,359		$         420,672		$         444,439

 

View original content:https://www.prnewswire.com/news-releases/red-rock-resorts-announces-second-quarter-2026-results-302840274.html

SOURCE Red Rock Resorts, Inc.

FAQ

What were Red Rock Resorts (NASDAQ: RRR) Q2 2026 earnings results?

Red Rock Resorts reported Q2 2026 net revenues of $510.3 million, net income of $76.6 million, and Adjusted EBITDA of $208.0 million. According to Red Rock Resorts, these figures were all lower than the same quarter in 2025, reflecting softer performance.

How did Red Rock Resorts Q2 2026 results compare to Q2 2025?

Q2 2026 net revenues fell 3.0%, net income declined 29.3%, and Adjusted EBITDA decreased 9.3% year over year. According to Red Rock Resorts, net revenues were $510.3 million and net income was $76.6 million versus $526.3 million and $108.3 million in Q2 2025.

What dividend did Red Rock Resorts (RRR) declare for the second quarter of 2026?

Red Rock Resorts declared a $0.26 cash dividend per Class A common share for Q2 2026. According to Red Rock Resorts, it will be payable on September 30, 2026 to stockholders of record as of the close of business on September 15, 2026.

How did Las Vegas operations perform for Red Rock Resorts in Q2 2026?

Las Vegas operations produced net revenues of $503.2 million and Adjusted EBITDA of $227.5 million in Q2 2026. According to Red Rock Resorts, this represented a 2.0% decline in net revenues and a 5.0% decrease in Adjusted EBITDA compared with Q2 2025.

What happened to Red Rock Resorts' Native American segment in Q2 2026?

Native American activities generated net revenues of $3.8 million and Adjusted EBITDA of $2.8 million in Q2 2026. According to Red Rock Resorts, net revenues fell 62.0% and Adjusted EBITDA declined 72.0% versus the same quarter of 2025.

What were Red Rock Resorts' cash and debt levels as of June 30, 2026?

As of June 30, 2026, Red Rock Resorts held $136.5 million in cash and cash equivalents and had $3.6 billion in total principal amount of debt. According to Red Rock Resorts, these figures summarize its liquidity and leverage position at quarter-end.

What was Red Rock Resorts' Q2 2026 earnings per share (EPS)?

For Q2 2026, basic EPS for Class A common stock was $0.68 and diluted EPS was $0.67. According to Red Rock Resorts, this compares with basic EPS of $0.96 and diluted EPS of $0.95 in the second quarter of 2025.