Higher Q1 revenue and $0.26 dividend at Red Rock Resorts (NASDAQ: RRR)

Rhea-AI Filing Summary

Red Rock Resorts, Inc. reported first quarter 2026 net revenues of $507.3 million, modestly higher than $497.9 million a year earlier. Net income attributable to Red Rock Resorts was $42.9 million, compared with $44.7 million in the prior-year quarter, and Adjusted EBITDA was $212.6 million versus $215.1 million.

Cash and cash equivalents were $134.0 million at March 31, 2026, and total debt principal was $3.6 billion. The board declared a $0.26 cash dividend per Class A share for the second quarter of 2026, payable June 30, 2026 to stockholders of record on June 15, 2026.

Before that dividend, Station Holdco LLC will distribute approximately $28.8 million in cash, including about $16.9 million to the Company and $11.9 million to other unitholders.

Insights

Equity research analyst

Quarter shows steady revenue, flat earnings and a continued cash dividend.

Red Rock Resorts delivered Q1 2026 net revenues of $507.3M, slightly above $497.9M a year earlier, while net income attributable to the company eased to $42.9M from $44.7M. Adjusted EBITDA was broadly stable at $212.6M versus $215.1M, indicating resilient operating performance.

The balance sheet shows cash of $134.0M and total debt of $3.6B, highlighting a leveraged but liquid profile. The board declared a quarterly dividend of $0.26 per Class A share for the second quarter of 2026, continuing capital returns.

Station Holdco LLC will make a $28.8M cash distribution, with $16.9M flowing to the company and $11.9M to other unitholders. Future filings may further detail how sustained dividends and leverage interact with operating trends and interest expense.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Net revenues: $507.3M Net income attributable to Red Rock Resorts, Inc.: $42.9M Adjusted EBITDA: $212.6M +5 more

8 metrics

Net revenues $507.3M Three months ended March 31, 2026; vs $497.9M in 2025

Net income attributable to Red Rock Resorts, Inc. $42.9M Three months ended March 31, 2026; vs $44.7M in 2025

Adjusted EBITDA $212.6M Three months ended March 31, 2026; vs $215.1M in 2025

Cash and cash equivalents $134.0M Balance as of March 31, 2026

Total principal debt $3.6B Debt outstanding at end of Q1 2026

Dividend per Class A share $0.26 Cash dividend for Q2 2026, payable June 30, 2026

Station Holdco cash distribution $28.8M Pre-dividend distribution; $16.9M to company, $11.9M to others

Las Vegas operations net revenues $499.5M Segment net revenues for three months ended March 31, 2026

Key Terms

Adjusted EBITDA, non-GAAP measure, Native American management and development fees, forward-looking statements, +2 more

6 terms

Adjusted EBITDA financial

"Adjusted EBITDA for the three months ended March 31, 2026 and 2025 includes net income plus depreciation and amortization..."

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 measure financial

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

A non-GAAP measure is a company-crafted financial metric that adjusts or excludes items from standard accounting numbers to highlight what management sees as the business’s core performance. Investors use these figures like a filtered photo to reveal trends or cash flow drivers that raw accounting totals might hide, but because companies decide which items to remove, these measures should be compared with standard statements to avoid being misled.

Native American management and development fees financial

"Native American management and development fees | | | 4,737 | | | | — |"

forward-looking statements regulatory

"This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933..."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Station Casinos LLC financial

"Red Rock Resorts is a holding company that owns an indirect equity interest in and manages Station Casinos LLC (“Station Casinos”)."

Emerging growth company regulatory

"Emerging growth company Item 2.02. Results of Operations and Financial Condition."

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

Earnings Snapshot

Net revenues: $507.3M

Q1 2026

Net revenues $507.3M

Net income attributable to Red Rock Resorts, Inc. $42.9M

Adjusted EBITDA $212.6M

Basic EPS (Class A) $0.74

Diluted EPS (Class A) $0.73

FAQ

How did Red Rock Resorts (RRR) perform in Q1 2026?

Red Rock Resorts generated net revenues of $507.3 million in Q1 2026, slightly above $497.9 million a year earlier. Net income attributable to the company was $42.9 million, compared with $44.7 million in the prior-year quarter, showing broadly stable profitability.

What were Red Rock Resorts' net income and EPS for Q1 2026?

Net income attributable to Red Rock Resorts was $42.9 million in Q1 2026, versus $44.7 million a year earlier. Basic earnings per Class A share were $0.74 and diluted earnings per share were $0.73, compared with $0.76 and $0.75, respectively, in Q1 2025.

What was Red Rock Resorts' Adjusted EBITDA in Q1 2026?

Adjusted EBITDA for Q1 2026 was $212.6 million, compared with $215.1 million in Q1 2025. Management defines Adjusted EBITDA as net income plus depreciation and amortization, share-based compensation, write-downs and other, interest expense, derivative fair-value changes and income tax provision.

What dividend did Red Rock Resorts declare for Q2 2026?

The board declared a $0.26 cash dividend per Class A common share for the second quarter of 2026. It will be payable on June 30, 2026 to stockholders of record as of the close of business on June 15, 2026, continuing regular shareholder cash returns.

What are Red Rock Resorts' cash and debt levels as of March 31, 2026?

As of March 31, 2026, Red Rock Resorts reported $134.0 million of cash and cash equivalents and a total principal amount of debt outstanding of $3.6 billion. This combination reflects meaningful leverage alongside available liquidity to support operations and commitments.

How much will Station Holdco distribute related to Red Rock Resorts' dividend?

Before the company’s Q2 2026 dividend is paid, Station Holdco LLC will distribute approximately $28.8 million in cash. Around $16.9 million of that amount is expected to be distributed to Red Rock Resorts, with about $11.9 million going to other Station Holdco unitholders.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Understanding 8-K Material Events →

Accepted by SEC EDGAR 04/29/2026 - 04:01 PM Learn about SEC filing dates

false 0001653653 0001653653 2026-04-29 2026-04-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event Reported): April 29, 2026

RED ROCK RESORTS, INC.

(Exact Name of Registrant as Specified in Charter)

Delaware		001-37754		47-5081182
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(I.R.S. Employer Identification Number)

1505 South Pavilion Center Drive, Las Vegas, Nevada 89135

(Address of Principal Executive Offices) (Zip Code)

702-495-3000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A Common Stock, $0.01 par value		RRR		NASDAQ Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On April 29, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

Exhibit 99.1.		Press release dated April 29, 2026
Exhibit 104		Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				RED ROCK RESORTS, INC.
Date: April 29, 2026				By:		/s/ Stephen L. Cootey
						Stephen L. Cootey
						Executive Vice President, Chief Financial Officer and Treasurer

Exhibit 99.1

Red Rock Resorts Announces First Quarter 2026 Results

LAS VEGAS, April 29, 2026 (PRNewswire)—Red Rock Resorts, Inc. (“Red Rock Resorts,” “we” or the “Company”) (NASDAQ: RRR) today reported financial results for the first quarter ended March 31, 2026.

First Quarter Results

Consolidated Operations

• Net revenues were $507.3 million for the first quarter of 2026, an increase of 1.9%, or $9.4 million, from $497.9 million in the same period of 2025.

• Net income was $82.7 million for the first quarter of 2026, a decrease of 3.8%, or $3.3 million, from $86.0 million in the same period of 2025.

• Adjusted EBITDA⁽¹⁾ was $212.6 million for the first quarter of 2026, a decrease of 1.2%, or $2.5 million, from $215.1 million in the same period of 2025.

Las Vegas Operations

• Net revenues from Las Vegas operations were $499.5 million for the first quarter of 2026, an increase of 0.9%, or $4.5 million, from $495.0 million in the same period of 2025.

• Adjusted EBITDA from Las Vegas operations was $232.4 million for the first quarter of 2026, a decrease of 1.5%, or $3.5 million, from $235.9 million in the same period of 2025.

Native American

• Net revenues from Native American activities were $4.7 million for the first quarter of 2026, with Adjusted EBITDA of $2.9 million, representing activities related to management and development fees.

Balance Sheet Highlights

The Company’s cash and cash equivalents at March 31, 2026 were $134.0 million and total principal amount of debt outstanding at the end of the first 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 June 30, 2026 to all stockholders of record as of the close of business on June 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 $28.8 million, approximately $16.9 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: 1891420. A replay of the call will be available from today through May 6, 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 months ended March 31, 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 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 and Tropicana). 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 March 31,
		2026				2025
Operating revenues:
Casino		$	340,522			$	333,245
Food and beverage			90,323				89,272
Room			45,514				50,170
Native American management and development fees			4,737				—
Other			26,223				25,174
Net revenues			507,319				497,861
Operating costs and expenses:
Casino			91,230				89,413
Food and beverage			74,187				73,761
Room			15,604				15,989
Other			7,700				7,243
Selling, general and administrative			114,357				104,711
Depreciation and amortization			55,855				48,331
Write-downs and other, net			4,710				4,060
			363,643				343,508
Operating income			143,676				154,353
Earnings from joint ventures			707				712
Operating income and earnings from joint ventures			144,383				155,065
Other (expense) income:
Interest expense, net			(49,504	)			(51,110	)
Change in fair value of derivative instruments			966				(5,194	)
Income before income tax			95,845				98,761
Provision for income tax			(13,125	)			(12,811	)
Net income			82,720				85,950
Less: net income attributable to noncontrolling interests			39,831				41,201
Net income attributable to Red Rock Resorts, Inc.		$	42,889			$	44,749
Earnings per common share:
Earnings per share of Class A common stock, basic		$	0.74			$	0.76
Earnings per share of Class A common stock, diluted		$	0.73			$	0.75
Weighted-average common shares outstanding:
Basic			58,204				59,203
Diluted			59,369				103,393
Dividends declared per common share		$	1.26			$	0.25

Red Rock Resorts, Inc.

Segment Information and Reconciliation of Net Income to Adjusted EBITDA

(amounts in thousands)

(unaudited)

		Three Months Ended March 31,
		2026				2025
Net revenues
Las Vegas operations		$	499,522			$	494,953
Native American			4,737				—
Corporate and other			3,060				2,908
Net revenues		$	507,319			$	497,861
Net income		$	82,720			$	85,950
Adjustments
Depreciation and amortization			55,855				48,331
Share-based compensation			7,680				7,624
Write-downs and other, net			4,710				4,060
Interest expense, net			49,504				51,110
Change in fair value of derivative instruments			(966	)			5,194
Provision for income tax			13,125				12,811
Adjusted EBITDA		$	212,628			$	215,080
Adjusted EBITDA
Las Vegas operations		$	232,417			$	235,900
Native American			2,923				—
Corporate and other			(22,712	)			(20,820	)
Adjusted EBITDA		$	212,628			$	215,080

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EX-99.1 60.3 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 16.8 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 10.6 KB