Red Rock Resorts has released its financial results for the third quarter of 2026, having managed to increase net revenue 2.8% to $488.7m, even while witnessing a net loss of $17.7m during the period.
The operator claimed the net loss was primarily a result of $79.1m in share-based compensation expense related to stock awards issued as part of Red Rock Resorts’ 50th anniversary celebration, as well as $6.9m in one-time expenses.
On September 10, Station Casinos awarded more than $70m in Red Rock Resorts stock to nearly 10,000 employees to celebrate the operator’s 50th anniversary in Las Vegas.
Red Rock Resorts Net Income/Loss History - Q3
in $mil
Red Rock Resorts also reported a decrease in adjusted EBITDA for Q3 2026, however, which fell 4.3% year-over-year to $182.6m.
Las Vegas operations accounted for $479.1m of Red Rock Resorts’ total Q3 revenue and increased 2.2%, although the sector’s adjusted EBITDA decreased 2.3% for a total of $204.6m.
Revenue from Native American management and development fees reached $6.2m during Q3, equating to growth of 59%. The sector's adjusted EBITDA managed to increase 30.8% to $5.1m for the quarterly period as well.
Red Rock Resorts Net Revenue + Adj. EBITDA History
in $mil
Red Rock Resorts’ casino revenue for the third quarter of 2026 increased 1.4% to $323.9m, while food & beverage revenue grew 3.2% to $88.2m. Room revenue also increased year-over-year, rising 3% to just over $42.8m.
Operating expenses for Q3 rose 34.3% to $462m, leading to a 79.2% decrease in Red Rock Resorts’ operating income to $27.4m.
At the end of October, the US Supreme Court chose to deny Red Rock Resorts’ emergency stay request to delay compliance with a previously issued union bargaining order, helping to push forward the Culinary Union 226’s attempt to unionize workers at the property.
Red Rock Resorts Las Vegas Operations Revenue History - Q3
How has the operator's performance in Las Vegas fared since 2021?
Red Rock Resorts originally began seeking intervention from the US Supreme Court on September 2 in hopes of delaying compliance with an order from the National Labor Relations Board to negotiate with a union.
Instead, Culinary Union 226 will continue with its plan to unionize workers at Red Rock Casino, Resort & Spa, Boulder Station and Palace Station.
Red Rock Resorts appointed J. Colby Williams as its new EVP and General Counsel on June 12, succeeding Jeffrey Welch who will remain with the operator through the conclusion of 2026
