Red Rock Resorts on Tuesday reported strong across-the-board gains in revenue, income and adjusted earnings.
Net revenues were $526.3 million for the second quarter, an increase of 8.2%, or $39.9 million, from $486.4 million in the same period of 2024.
Net income was $108.3 million for the second quarter, up sharply by 55.1%, or $38.5 million, from $69.8 million in the same period of 2024.
Adjusted EBITDA was $229.4 million for the second quarter, an increase of 13.7%, or $27.7 million, from $201.7 million in the same period of 2024.
Net revenues from Las Vegas operations were $513.3 million for the second quarter of 2025, an increase of 6.2%, or $30.1 million, from $483.2 million in the same period of 2024.
Adjusted EBITDA from Las Vegas operations was $239.4 million for the second quarter, an increase of 7.3%, or $16.3 million, from $223.1 million in the same period of 2024.
Net revenues and adjusted EBITDA from Native American management activities were $10 million for the second quarter, representing a cumulative revenue catch-up related to development fees.
The company’s cash and cash equivalents as of June 30 were $145.2 million, and total principal amount of debt outstanding at the end of the second quarter was $3.4 billion.
The company’s Board of Directors declared a cash dividend of $0.25 per Class A common share for the third quarter of 2025. The dividend will be payable September 30th to all stockholders of record at the close of business September 15th.
Prior to the payment of such dividend, Station Holdco LLC will make a cash distribution to all unit holders of record, including the company, of $0.25 per unit for a total distribution of approximately $27.6 million, approximately $16.1 million of which is expected to be distributed to the company and approximately $11.5 million of which is expected to be distributed to the other unit holders of record of Station Holdco.
