Red Rock Resorts reported third-quarter gains in revenue and adjusted earnings as it continues to benefit from the December opening of the Durango Casino & Resort.
Overall for the operator, net revenues were $468.0 million for the third quarter of 2024, an increase of 13.7%, or $56.4 million, from $411.6 million in the same period of 2023. Casino revenue was $314.2 million, up from $272.7 million, while food and beverage was $83.3 million, up from $72.7 million. Room revenue was $45.1 million, up from $42 million.
Adjusted EBITDA was $182.7 million for the third quarter of 2024, an increase of 4.3%, or $7.5 million, from $175.2 million in the same period of 2023.
Net income was $55.4 million for the third quarter, a decrease of 19%, or $13 million, from $68.4 million in the same period of 2023.
Net revenue from Las Vegas operations was $464.7 million for the third quarter, an increase of 13.9% or $56.8 million, from $408 million in the same period of 2023.
Adjusted EBITDA from Las Vegas operations was $202.6 million for the third quarter, an increase of 5.8% or $11.1 million, from $191.4 million in the same period of 2023.
The company’s cash and cash equivalents at Sept. 30 were $117.5 million and total principal amount of debt outstanding at the end of the third quarter was $3.5 billion.
The company’s board of directors declared a cash dividend of $0.25 per Class A common share for fourth quarter 2024. The dividend will be payable on Dec. 31 to all stockholders of record as of the close of business on Dec. 16.
