Red Rock Resorts recorded an increase in third-quarter revenue, but posted a net loss during the quarter, primarily because of $79.1 million in share-based compensation expense related to the company’s 50th anniversary stock awards issued in the quarter.
The company posted revenue of $488.7 million for the third quarter, a 2.8% increase, or $13.1 million, from $475.6 million in the same period last year. Net loss was $17.7 million, a decrease of 123%, or $94.6 million, from net income of $76.9 million last year.
Red Rock Resorts also attributed the net loss in the third quarter to $6.9 million of one-time expenses due to the company’s anniversary.
Adjusted EBITDA was $182.6 million for the third quarter of 2026, a decrease of 4.3%, or $8.3 million, including $5.8 million of one-time expenses related to the 50th anniversary, from $190.9 million in the same period of 2025.
Net revenue from Las Vegas operations was $479.1 million for the third quarter of 2026, an increase of 2.2%, or $10.5 million, from $468.6 million in the same period of 2025.
Adjusted EBITDA from Las Vegas operations was $204.6 million for the third quarter of 2026, a decrease of 2.3%, or $4.8 million, from $209.4 million in the same period of 2025.
Meanwhile, net revenue from Native American activities were $6.2 million for the third quarter of 2026, an increase of 59.0%, or $2.3 million, from $3.9 million in the same period of 2025.
Adjusted EBITDA from Native American activities was $5.1 million for the third quarter of 2026, an increase of 30.8%, or $1.2 million, from $3.9 million in the same period of 2025.
The company’s cash and cash equivalents on September 30 were $128.3 million and total principal amount of debt outstanding at the end of the third quarter was $3.7 billion.
