Red Rock Resorts Q1 revenue grows 1.9% to $507.3m, net income falls 3.8%

Red Rock Resorts has released its financial results covering the first quarter of 2026, as revenue increased 1.9% to $507.3m, led by Las Vegas operations which accounted for $499.5m and rose 0.9%. 

While net revenue managed to increase year-over-year, both net income and adjusted EBITDA for Red Rock Resorts fell during Q1 2026. Net income was reported to be just over $82.7m and decreased 3.8%, while the $212.6m in adjusted EBITDA represents a fall of 1.2%. 

Even with Las Vegas operations managing to increase revenue, the segment’s adjusted EBITDA still decreased 1.5% for a total of $232.4m. Native American activities accounted for $4.7m of the operator’s net revenue, as well as $2.9m in adjusted EBITDA. 

Casino operations produced $340.5m of revenue, the most of any vertical for Red Rock Resorts, and increased 2.2%. Food & beverage and room operations reported Q1 2026 revenues of $90.3m and $45.5m, equating to growth of 1.2% but a 9.3% decrease for the latter. 

Red Rock Resorts’ operating income for the quarter totaled $143.7m, representing a decrease of 6.9%. The fall was perhaps due in part to a 5.9% increase in operating expenses to $363.6m, including $91.2m in casino costs and $114.4m in selling, general and administrative. 

At the conclusion of Q1 2026, Red Rock Resorts’ maintained $134m in cash and cash equivalents, as well as $3.6bn in outstanding principal debt. 

Fellow Las Vegas locals casino operator Boyd Gaming reported its Q1 2026 financial results on April 23, increasing revenue 0.6% to $997.4m despite falls in net income and adjusted EBITDA. 

Net income decreased 5.9% for a total of $104.3m, while Boyd Gaming’s adjusted EBITDA fell 6.6% year-over-year to $288.8m during the quarterly period. Operating expenses increased 5.3% to $833.4m for Q1 2026, leading to an 18% decrease in Boyd Gaming’s operating income to $164m.