Red Rock Resorts reported the second-highest second-quarter gaming gross and profitability successful institution past connected Tuesday during its second-quarter net call.
The genitor institution of Station Casinos’ nett gross of $510.3 cardinal was down 3 percent, oregon $16 million, from past year’s grounds 2nd 4th of $526.3 million. But the results exceeded Wall Street expectations contempt ongoing operation disruptions astatine 3 of the company’s Southern Nevada properties.
“Our second-quarter results show that the institution we person built implicit the past 5 decades is arsenic beardown arsenic it’s ever been,” Red Rock Resorts President Scott Kreeger said, “even against the strongest operating 4th successful the company’s past a twelvemonth ago.”
Net income was $76.6 cardinal successful the 2nd quarter, a alteration of 29.3 percent, oregon $31.7 million, from $108.3 cardinal successful the aforesaid play successful 2025.
The grounds results from past twelvemonth were fueled successful ample portion by the occurrence of the Durango property, which continues to excel successful spite of operation impacts from a $385 cardinal expansion. The monolithic task calls for an expanded casino level with 400 further slot machines, a 36-lane bowling facility, luxury movie theaters, caller edifice concepts and caller amusement venues.
“Our Durango spot continued to execute exceptionally good contempt ongoing operation impacts and has firmly established itself arsenic a meaningful maturation operator wrong the Las Vegas locals market,” Kreeger said. “Building connected Durango’s continued momentum, operation of the Durango North enlargement is progressing good and remains connected docket to unfastened successful the 2nd fractional of 2027.”
Green Valley Ranch, Sunset Station projects
Renovation projects are inactive ongoing arsenic good astatine Green Valley Ranch and Sunset Station.
“At Sunset Station, we proceed to marque fantabulous advancement connected our podium refresh. The precocious reopened Gaudi Bar has been met with affirmative lawsuit feedback, and we are precise encouraged by its aboriginal fiscal performance,” Kreeger said. “In the coming weeks, we look guardant to opening Stoney’s Rockin’ Country, a caller country-western barroom and nightclub, which volition further grow the property’s amusement offerings. The renovation remains connected fund with the remaining amenities expected to travel online passim 2026.”
Kreeger added the institution continues to execute the adjacent signifier of Sunset Station redevelopment with enhancements to the movie theaters, relocation of the impermanent bingo cognition into a imperishable determination and redevelopment of the erstwhile buffet abstraction into a premium steakhouse and high-limit slot and array crippled area. He said operation remains connected docket for the $87 cardinal project, which is expected to beryllium completed passim 2026 and into 2027.
Progress besides continues connected the $56 cardinal edifice renovation astatine Green Valley Ranch.
“During the quarter, Green Valley Ranch edifice renovation reduced the disposable country nighttime inventory by much than 21,000 country nights, impacting some gross and profitability crossed some divisions,” Kreeger said. “Even with this impermanent disruption, edifice show remained solid, supported by higher occupancy crossed the portfolio.
“We look guardant to erstwhile again offering our guests the afloat Green Valley Ranch edifice merchandise opening successful precocious September.”
The institution besides continues to execute the adjacent signifier of Green Valley Ranch’s semipermanent redevelopment strategy with a broad casino level refresh, enhancements to its nutrient and beverage offerings, and upgrading amusement amenities. Construction is underway and expected to widen into 2027.
“We judge these impermanent disruptions are much than offset by the semipermanent benefits of these investments,” Kreeger said.
Red Rock shares, traded connected the Nasdaq exchange, closed astatine $64.27, down $1.34 (2.04 percent) from its erstwhile adjacent of $65.61.
$8 cardinal marque campaign
The institution volition incur an $8 cardinal marque selling disbursal successful the 3rd 4th to observe the company’s 50th day successful Las Vegas.
“We’ve done a fig of antithetic marque campaigns successful the past and we conscionable felt it made consciousness to bash it astir the 50th anniversary. To reenforce our presumption successful the locals marketplace present — a marketplace that was truly created by our dada (Frank Fertitta Jr.),” Lorenzo Fertitta, vice president of the committee of directors for Red Rock Resorts, told investors during the call. “They bash outgo wealth and it is simply a complaint that’s going to deed the 3rd quarter, but wide we deliberation it’s the close happening to bash for the semipermanent payment of the business.”
Contact newsman Todd Dewey astatine tdewey@reviewjournal.com. Follow @tdewey33 connected X.
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