Red Rock Resorts reported fourth-quarter increases in revenue and adjusted earnings, while net income fell, the company announced Tuesday.
Net revenue was $495.7 million for the fourth quarter, an increase of 7.1% or $33 million from $462.7 million in the same period of 2023. Net income was $87.7 million, a decrease of 19.5% or $21.2 million from $108.9 million in the same period of 2023. Adjusted EBITDA was $202.4 million for Q4 2024, an increase of 0.5% or $1.1 million from $201.3 million in the same period in 2023.
Net revenue from Las Vegas operations was $492.6 million for Q424, an increase of 7.2% or $33.3 million over the $459.4 million in Q423. Adjusted EBITDA from Las Vegas operations was $223.9 million, an increase of 1.6% or $3.6 million over the $220.3 million.
For the full year companywide, net revenue was $1.94 billion in 2024, an increase of 12.5% or $215 million from $1.72 billion in 2023.
Net income was $291.3 million in 2024, a decrease of 13.8% or $46.5 million from $337.8 million in 2023. That fits the market-wide fiscal year 2024 takeaway from the Nevada Gaming Abstract CDC Gaming reported on Sunday.
Adjusted EBITDA was $795.9 million in 2024, a year-over-year increase of 6.7% or $49.9 million from $746 million.
Net full-year revenue from Las Vegas operations was $1.93 billion in 2024, an increase of 12.6% or $216.2 million from $1.71 billion in 2023.
Adjusted EBITDA from Las Vegas operations was $879.4 million in 2024, an increase of 7.4% or $60.5 million from $818.8 million in 2023.
The company’s cash and cash equivalents at Dec. 31 were $164.4 million and total principal amount of debt outstanding at the end of the fourth quarter was $3.4 billion.
The company’s board of directors has declared a cash dividend of $0.25 per Class A common share for the first quarter of 2025. The dividend will be payable on March 31 to all stockholders of record as of the close of business on March 17.
