)
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.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.
Next Red Rock Resorts earnings date
Next Red Rock Resorts earnings date
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.
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.
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.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
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.
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.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
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.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
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.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
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.
Explore our global coverage
)
)