Red Rock Resorts Inc SEC Filings

Red Rock Resorts (RRR) reported Q3 2025 results with net revenues of $475,572, up slightly year over year. Operating income was $131,484 and net income rose to $76,880, lifting diluted EPS to $0.68 from $0.48. Casino revenue led at $319,490, while food & beverage was $85,523 and room revenue was $41,568.

Adjusted EBITDA was $190,868, reflecting stable Las Vegas operations and initial Native American development fees of $3,894. Interest expense eased to $50,486, supporting stronger bottom-line results.

Balance sheet and cash flows: Long-term debt totaled $3,363,640, and revolver availability was $933.2 million at quarter end. Operating cash flow for the first nine months was $452,956, funding $240,118 of capex and shareholder returns. The company paid quarterly dividends of $0.25 per share and declared a $0.26 dividend payable on December 31, 2025. Year-to-date repurchases were 763,914 shares for $36.4 million; the buyback authorization was extended and increased to $572.5 million in October.

Development update: RRR recognized $8,476 in gain and $13,902 in development fee revenue year to date from the North Fork Project financing; construction is underway with opening targeted for the fourth quarter of 2026.

Red Rock Resorts, Inc. filed a current report to note that it issued a press release on October 28, 2025. The disclosure is made under the item for results of operations and financial condition, as well as other events, indicating the press release contains an update on the company’s business and financial situation. The press release is included as an exhibit to the report and is incorporated by reference for full details.

Lorenzo J. Fertitta reported a non-derivative transaction in Red Rock Resorts, Inc. (RRR) on 09/12/2025 transferring 200,000 shares of Class A Common Stock at a reported price of $61.31. The filing states the shares were disposed of by FJF, LLC and acquired by the Frank J. Fertitta, III 2006 Irrevocable Trust for estate planning, for which Lorenzo serves as trustee with sole investment and voting power. After the reported transaction, the report lists 47,188,378 shares as indirectly beneficially owned and 93,221 shares as directly owned. The filing includes detailed ownership footnotes describing complex family and entity relationships and a disclaimer of beneficial ownership except for any pecuniary interest.

Frank J. Fertitta III, director and CEO of Red Rock Resorts, reported a non‑derivative transfer on 09/12/2025 in which 200,000 shares of Class A Common Stock were disposed of by FJF, LLC and acquired by The Frank J. Fertitta, III 2006 Irrevocable Trust for the benefit of his three children. The Form 4 shows a transaction price of $61.31 per share and records 45,324,378 shares beneficially owned following the transaction, with 93,221 shares held directly. The filing states the transfer was made for estate planning purposes and includes detailed footnotes describing complex ownership through multiple LLCs and trusts.

Red Rock Resorts insider sale reported on Form 4. Nichols Kord, EVP & Chief Operating Officer of Red Rock Resorts, Inc. (RRR), reported disposition of 37,075 shares of Class A common stock on 08/22/2025. The shares were sold at a weighted average price of $61.026, in multiple transactions at prices ranging from $60.77 to $61.56. Following the reported transaction, the filing shows the reporting person beneficially owned 87,036 shares, held directly. The Form 4 was executed by an attorney in fact and filed with the SEC.

Red Rock Resorts, Inc. (RRR) Form 144 notice reports a proposed sale of 37,075 shares of Class A common stock through Merrill Lynch, with an aggregate market value of $2,262,562.91 and an approximate sale date of 08/22/2025. The filing shows these shares were acquired on 08/11/2025 via a broker-assisted, net-settled exercise of employee stock options from Red Rock Resorts, Inc., with payment dated 08/11/2025. The filer discloses prior sales during the past three months by Kord Nichols: 5,250 shares sold on 08/13/2025 for $320,250.00 and 42,325 shares sold on 08/12/2025 for $2,480,836.83. The notice includes the required insider representation that no material nonpublic information is known to the seller at signing.

Red Rock Resorts (RRR) insider Kord Nichols, EVP & Chief Operating Officer, reported a sale of 5,250 shares of Class A common stock on 08/13/2025 at a price of $61 per share. After the transaction, the filing shows 124,111 shares beneficially owned, reported as direct ownership. The Form 4 is a routine Section 16 disclosure documenting this change in holdings.

Eminence Capital, LP and Ricky C. Sandler report beneficial ownership of 3,059,372 shares of Red Rock Resorts, Inc. Class A Common Stock, representing 5.1% of the class. The percentage is calculated using 60,092,344 shares outstanding as of May 1, 2025, per the companys quarterly report. Eminence Capital is a Delaware investment adviser and Mr. Sandler is its CEO; both report shared voting power of 3,012,795 shares and shared dispositive power of 3,059,372 shares. The filing states the holdings were acquired in the ordinary course of business and not to influence control.

Baron Capital Group and affiliated filers report a material stake in Red Rock Resorts. The filing discloses that Baron Capital Group, BAMCO, Baron Capital Management, Ronald Baron and Baron Small Cap Fund beneficially own 12,269,004 shares of Red Rock Resorts Class A common stock, representing 20.42% of the class. The group reports shared voting power of 12,136,978 and shared dispositive power of 12,269,004.

Corporate structure and intent are stated. BAMCO and BCM are identified as subsidiaries of Baron Capital Group and Ronald Baron is described as owning a controlling interest in the group. The filers certify the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control of the issuer.