Red Rock Resorts
Logotype for Red Rock Resorts Inc

Red Rock Resorts (RRR) investor relations material

Red Rock Resorts Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Red Rock Resorts Inc
Q4 2025 earnings summary10 Feb, 2026

Executive summary

  • Achieved ninth consecutive record quarter and second consecutive year of record net revenue and adjusted EBITDA in Q4 2025, led by Las Vegas operations.

  • Maintains a durable business model with high free cash flow conversion and a proven track record of returning capital to shareholders.

  • Owns all real estate and development sites, providing significant capacity for organic growth and high barriers to entry.

  • Durango Casino Resort continues to expand the locals market, with recent expansions and positive customer response validating capital investments.

  • Ongoing renovations and expansions at Durango, Sunset Station, and Green Valley Ranch are central to the long-term growth strategy.

Financial highlights

  • Q4 2025 net revenues reached $511.8M, up 3.2% year-over-year; full-year 2025 net revenues were $2.01B, up 3.7%.

  • Q4 2025 adjusted EBITDA was $213.3M (45.8% margin), up 5.4%; full-year adjusted EBITDA was $848.6M (42.2% margin), up 6.6%.

  • Q4 2025 Las Vegas net revenue: $505M, up 2.5%; Adjusted EBITDA: $231.1M, up 3.2%; margin: 45.8%.

  • Full-year Las Vegas net revenue: $1.98B, up 2.9%; Adjusted EBITDA: $915.9M, up 4.2%; margin: 46.2%.

  • Full-year net income for 2025 was $355.7M, up 22.1% from 2024.

Outlook and guidance

  • Guidance for 2026 includes continued reinvestment in existing properties and ongoing expansion at Durango, Sunset Station, and Green Valley Ranch.

  • 2026 capital spend expected between $375M-$425M, with $275M-$300M in investment capital and $100M-$125M in maintenance capital.

  • Confident in ability to grow Las Vegas EBITDA in 2026 despite construction disruption.

  • Regular quarterly dividend of $0.26 per share and special $1.00 per share dividend declared for early 2026.

Future outlook for Native American development fees
Rationale for the special dividend declaration
Breakdown of Corporate and other Adjusted EBITDA
Quantify 2026 disruption beyond GVR Q1/Q2
Update on new greenfield project timelines?
How is the 90% deduction impacting high-end play?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Red Rock Resorts earnings date

Logotype for Red Rock Resorts Inc
Q1 202630 Apr, 2026
Red Rock Resorts
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Red Rock Resorts earnings date

Logotype for Red Rock Resorts Inc
Q1 202630 Apr, 2026

The essential earnings season companion

The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Red Rock Resorts Inc. is a holding company that manages and owns equity interests in gaming and entertainment properties through its subsidiary, Station Casinos. Its operations include casino gaming, hotel accommodations, dining, and other leisure offerings primarily in the Las Vegas area. The company is headquartered in Las Vegas, Nevada, and its shares are listed on the NASDAQ.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage