Red Rock Resorts Announces Third Quarter 2026 Results

What happened

Red Rock Resorts reported third quarter 2026 net revenues of $488.7 million, up 2.8% from $475.6 million a year earlier. It posted a net loss of $17.7 million, versus net income of $76.9 million in the same period of 2025.

Confirmed

Global impact / market context

The revenue gain did not prevent a swing to a net loss, largely because of $79.1 million in share-based compensation for 50th anniversary stock awards, which means paying employees in stock rather than cash. That expense reduced reported profit without using cash, but it still lowers earnings per share.

Analyst inference

Adjusted EBITDA, a profit measure that excludes certain items, fell 4.3% to $182.6 million and included $5.8 million of one-time anniversary costs. Las Vegas revenues rose 2.2%, but Las Vegas Adjusted EBITDA slipped 2.3%, suggesting revenue growth came with higher costs.

Analyst inference

What to watch

1. Watch whether the $5.8 million of one-time 50th anniversary expenses and $79.1 million of share-based compensation repeat in later quarters, since both weighed on third quarter 2026 results. Confirmed
2. Investors could compare future quarters against the $488.7 million revenue and $182.6 million Adjusted EBITDA base to see whether the revenue increase outlasts the cost pressure. Proposed
3. Watch Las Vegas profitability, because revenue there rose 2.2% while Adjusted EBITDA fell 2.3%, which may signal rising operating costs that could squeeze cash available for capital spending. Analyst inference

Evidence

• Original source link unavailable