Red Rock Resorts has released its financial results throughout the third quarter of 2025, having witnessed a 1.6% increase in net revenue to $475.6m, as well as 38.8% growth in net income year-over-year to $76.9m.
The operator currently manages Red Rock Casino Resort & Spa in Las Vegas and owns an indirect equity interest in Station Casinos. Red Rock Resorts also generated an adjusted EBITDA increase of 4.5% for Q3 2025, totaling $190.9m throughout the period.
Las Vegas operations accounted for $468.6m of the operator's total revenue for the third quarter of 2025, rising 0.8%, and also witnessed 3.4% growth in adjusted EBITDA to $209.4m. The increase in revenue and adjusted EBITDA for Red Rock Resorts in Las Vegas could be attributed to the decline in tourism recorded throughout 2025, perhaps driving more visitation toward local casinos.
Red Rock Resorts did witness a decrease in room revenue of 8% year-over-year to $41.6m for Q3 2025, however, showcasing the struggles reported from various Las Vegas casinos as tourism continues to fall across the city.
MGM Resorts President and CEO Bill Hornbuckle remained hopeful on the topic during the Global Gaming Expo in Las Vegas, having said, "As I look to the future, I think the next 16 months are going to be the best the city has ever had or ever seen."
While Red Rock Resorts reported a decrease in room revenue for Q3 2025, the operator's casino revenue increased 1.7% to nearly $319.5m. Food and beverage operations also reported an increase in revenue from the prior year period, rising 2.6% for a total of $85.5m.
Operating costs for Red Rock Resorts grew 2% to $344.1m for Q3 2025, but the company still managed to generate an operating income of $131.5m throughout the period, equating to an increase of 0.6%.
Net revenue and adjusted EBITDA from Native American business were reported to be $3.9m for Q3 2025, and have generated $13.9m in combined revenue for Red Rock Resorts over the nine-month period ending September 30.
The Nevada Gaming Control Board unanimously approved recommendation for Station Casinos' STN Sports to launch kiosk operations at Treasure Island on the Las Vegas strip as well as CasaBlanca Resort and Virgin River Hotel & Casino in Mesquite, Nevada on April 9.
Under the terms of the operator's renewable five-year agreements with the three Nevada properties, Station Casinos would initially install its Stadium Technology Group platform to begin accepting sports wagers.
Eventually, the company will transition to a system developed by GAN Limited, which are currently being field tested at Station Casinos properties.
The Culinary Union released a statement on September 30 regarding Red Rock Casino Resort & Spa and a federal case currently being reviewed in the DC Circuit Court of Appeals
