David Katz

John DeCree

Steven Wieczynski

Barry Jonas

Brandt Montour

Chad Beynon

Jordan Bender

Joseph Stauff

Benjamin Chaiken

Carlo Santarelli

Shaun Kelley

Daniel Politzer

Dan Politzer

Patrick Keough

Stephen Grambling

Steve Pezzella

Ben Chaiken

Benjamin Nicolas Chaiken

Chad C. Beynon

David Brian Katz

John G. DeCree

Jordan Maxwell Bender

Joseph Greff

Joseph Robert Stauff

Steven Moyer Wieczynski

- Red Rock Resorts reported **Q3 2025 consolidated net revenue of $475.6 million**, an increase of **1.6%** from the prior year, and **Adjusted EBITDA of $190.9 million**, up **4.5%** year-over-year, with an Adjusted EBITDA margin of **40.1%**.  **[0001653653_2209806_2]**  The company generated **$128.5 million** in operating free cash flow during the quarter.  **[0001653653_2209806_2]** 
- The company is proceeding with the next phase of its **Durango Casino Resort** expansion, which will add over **275,000 sq ft** of casino space and amenities at an estimated cost of **$385 million**, with construction expected to begin in January 2026 and take approximately 18 months to complete.  **[0001653653_2209806_1]** 
- Red Rock Resorts extended its share repurchase program to **December 31, 2027**, and authorized an additional **$300 million**, bringing the total availability for future share repurchases to **$573 million**.  **[0001653653_2209806_3]**  In Q3, the company repurchased approximately **92,000 Class A shares** and paid a quarterly dividend of **$0.25 per Class A share**.  **[0001653653_2209806_3]** 
- The full-year 2025 capital expenditure guidance was revised down by **$25 million** to between **$325 million and $350 million** due to timing.  **[0001653653_2209806_3]**  The company anticipates construction disruption impacts of approximately **$8 million** at Green Valley Ranch and **$1 million - $1.5 million** at Sunset Station in Q4 2025.  **[0001653653_2209806_9]**

Red Rock Resorts Reports Strong Q3 2025 Results, Announces Durango Expansion and Share Repurchase Program Extension

- Red Rock Resorts reported strong Q3 2025 results, with **net revenues of $475,572 thousand** and **Adjusted EBITDA of $190,868 thousand**, noting that its Las Vegas operations achieved **record-high EBITDA and net revenue** for similar quarters.  **[0001653653_2208943:16]** 
- The company increased its quarterly dividend to **$0.26 per share** in October 2025 and has **$573 million remaining** under its $900 million share repurchase plan.  **[0001653653_2208943:16]** 
- Red Rock Resorts owns **all its real estate**, including land holdings valued at over **$950 million** as of September 30, 2025, and has **7 owned development sites** in growing areas, demonstrating a history of producing **20+% IRR** on greenfield properties.  **[0001653653_2208943:11]**  Additionally, the North Fork project is under construction with an expected opening in **Q4 2026**.  **[0001653653_2208943:14]** 
- The Las Vegas market shows robust growth, with the population projected to reach **2.9 million by 2040** and residents aged 65+ expected to grow **4.1x faster** than the total population in Clark County over the next 5 years, supporting the company's strong locals gaming market position.  **[0001653653_2208943:5]**

Red Rock Resorts Reports Strong Q3 2025 Results and Highlights Growth Drivers

- Red Rock Resorts reported strong Q3 2025 consolidated net revenue of **$475.6 million** and adjusted EBITDA of **$190.9 million**, with Las Vegas operations achieving record net revenue and adjusted EBITDA.  **[0001653653_2209163_2]** 
- The company announced a **$385 million** expansion for Durango Casino Resort, with construction starting in January and expected to take approximately **18 months** to complete.  **[0001653653_2209163_1]** 
- The North Fork project is progressing towards an early Q4 2026 opening, with an estimated total cost of **$750 million** and projected management fees of **$40 to $50 million** upon stabilization.  **[0001653653_2209163_4]** **[0001653653_2209163_11]** 
- Red Rock Resorts' Board of Directors approved an increase in the regular cash quarterly dividend to **$0.26 per Class A share**, payable on December 31.  **[0001653653_2209163_4]** 
- Construction disruption is anticipated to continue, with an estimated **$8 million** impact at Green Valley Ranch in Q4 2025.  **[0001653653_2209163_9]** **[0001653653_2209163_12]**

Red Rock Resorts Reports Strong Q3 2025 Results, Announces Durango Expansion, and Increases Dividend

- Red Rock Resorts' Las Vegas operations achieved **record net revenue** and **adjusted EBITDA** for Q3 2025, marking the **ninth consecutive quarter of record net revenue** and **fifth consecutive quarter of record adjusted EBITDA**.  **[0001653653_2209665_1]**  Las Vegas operations net revenue was **$468.6 million**, up **1%**, and adjusted EBITDA was **$209.4 million**, up **3.4%** year-over-year.  **[0001653653_2209665_2]** 
- The company announced an increase in its regular cash quarterly dividend to **$0.26 per Class A share** and extended its share repurchase program to December 31, 2027, with an additional **$300 million** authorized, bringing total availability to **$573 million**.  **[0001653653_2209665_4]** **[0001653653_2209665_3]** 
- Significant capital investments are underway, including a **$385 million** expansion of the Durango Casino Resort, which will add nearly **400 slot machines** and new amenities, with construction starting in January 2026.  **[0001653653_2209665_1]**  The North Fork project, with a total cost of approximately **$750 million**, is on track for an early **Q4 2026 opening**.  **[0001653653_2209665_4]**

Red Rock Resorts Reports Record Q3 2025 Results and Announces Significant Capital Investments

- Red Rock Resorts, Inc. reported **net revenues of $475.6 million** for the third quarter of 2025, marking a **1.6% increase** from the same period in 2024, and **net income of $76.9 million**, a **38.8% increase**.  **[1653653_0001193125-25-253457_d31085dex991.htm:0]** 
- The company's Board of Directors declared a **cash dividend of $0.26 per Class A common share** for the fourth quarter of 2025, payable on December 31, 2025.  **[1653653_0001193125-25-253457_d31085dex991.htm:0]** 
- An additional **$300 million** was authorized under the existing share repurchase program, extending it to **December 31, 2027**, with approximately **$573 million** remaining in repurchase authority as of October 28, 2025.  **[1653653_0001193125-25-253457_d31085dex991.htm:0]** 
- As of September 30, 2025, the company had **$129.8 million in cash and cash equivalents** and **$3.4 billion in total principal amount of debt outstanding**.  **[1653653_0001193125-25-253457_d31085dex991.htm:0]**

Red Rock Resorts Reports Q3 2025 Results, Declares Dividend, and Expands Share Buyback

- Red Rock Resorts reported **net revenues of $475.6 million** for the third quarter of 2025, marking a **1.6% increase** from $468.0 million in the same period of 2024. **Net income for Q3 2025 rose 38.8% to $76.9 million** from $55.4 million in Q3 2024.  **[1653653_20251028LA06627:0]** 
- **Adjusted EBITDA increased by 4.5% to $190.9 million** for the third quarter of 2025, up from $182.7 million in the prior year's period.  **[1653653_20251028LA06627:0]** 
- The company's Board of Directors declared a **cash dividend of $0.26 per Class A common share** for the fourth quarter of 2025, payable on December 31, 2025.  **[1653653_20251028LA06627:0]** 
- An additional **$300 million** was authorized under the existing share repurchase program, extending its duration to December 31, 2027, with approximately **$573 million remaining** in repurchase authority as of October 28, 2025.  **[1653653_20251028LA06627:0]**

Red Rock Resorts Announces Third Quarter 2025 Results

Red Rock Resorts (RRR)