The developer and operator of leading gaming and entertainment properties, Red Rock Resorts, released its latest financial update.
The company uncovered details regarding its financial performance during the first quarter or the three months ended March 31, 2025.
Net revenue increases by nearly 2% in Q1
Based on the recent unaudited report, Red Rock Resorts' net revenues during the third quarter hit $497.9m.
Compared to the corresponding period in 2024, an increase of $9.0m or 1.8% is observed.
On the other hand, the operator reported net income of $86.0m for the first quarter of 2025.
A year-over-year comparison to Q1 in 2024 showed a $7.6m increase or an uptick of 9.7% in net income.
Not unexpectedly, the adjusted EBITDA reported by Red Rock Resorts in Q1 this year recorded an increase as well.
For the first quarter of 2024, adjusted EBITDA halted at $209.1m, while during the latest trading period, it increased by $5.9m or 2.8% to $215.1m.
Casino revenue grows
A breakdown of the total net revenues report in Q1 this year shows a notable increase in the casino segment.
In total, casino revenue for the three months ended March 31, 2025, soared to $333.2m.
Compared to the same period in 2024, when the revenue halted at $316.9m, the latest figure points to an increase of more than $16m in casino revenue.
While revenue from the casino segment increased, a dip was observed in food and beverage revenues reported by Red Rock Resorts for the first quarter.
In total, food and beverage revenue in Q1 halted at $89.3m, a figure that is below the $93.3m result from the same period last year.
Similarly, hotel room revenue and revenue from other operations marked a single-percentage decrease in Q1 this year to $50.1m and $25.2m, respectively.
Red Rock Resorts provided details regarding its revenues recorded from Las Vegas operations.
In total, the company's Las Vegas revenues hit $495m in Q1 this year, pointing to an increase of $9.4m or 1.9% year-over-year.
Similarly, adjusted EBITDA for Red Rock Resorts' Las Vegas operations recorded an increase of $6.1m or 2.7% year-over-year to $235.9m.
