Red Rock Resorts Wednesday reported a first-quarter gain in net revenue, but declines in net income and adjusted earnings. The company released its report Wednesday that showed net revenue of $507.3 million for the first quarter, 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, a decrease of 3.8%, or $3.3 million, from $86 million in the same period of 2025. Adjusted EBITDA was $212.6 million for the first quarter, a decrease of 1.2%, or $2.5 million, from $215.1 million in the same period of 2025.
Net revenue from Las Vegas operations was $499.5 million for the first quarter, an increase of 0.9%, or $4.5 million, from $495 million in the same period of 2025. Adjusted EBITDA from Las Vegas operations was $232.4 million for the first quarter, a decrease of 1.5%, or $3.5 million, from $235.9 million in the same period of 2025.
Net revenue from Native American activities was $4.7 million for the first quarter, with adjusted EBITDA of $2.9 million, representing activities related to management and development fees.
The company’s cash and cash equivalents at March 31 were $134 million and total principal amount of debt outstanding at the end of the first quarter was $3.6 billion.
The company’s Board of Directors 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 to all stockholders of record as of the close of business on June 15.
Prior to the payment of the dividend, Station Holdco LLC 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 to the other unit holders of record of Station Holdco.
