$RRR

Red Rock Resorts, Inc.

CIK:0001653653|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026 USD ($) Casino_Property $ / shares shares	Jun. 30, 2025 USD ($) $ / shares shares	Jun. 30, 2026 USD ($) Casino_Property $ / shares shares	Jun. 30, 2025 USD ($) $ / shares shares
Operating revenues:
Net revenues	$ 510,262	$ 526,273	$ 1,017,581	$ 1,024,134
Operating costs and expenses:
Selling, general and administrative	117,936	112,031	232,293	216,742
Depreciation and amortization	58,985	47,988	114,840	96,319
Write-downs and other, net	2,579	4,010	7,289	8,070
Operating expenses	374,266	358,245	737,909	701,753
Operating income	135,996	168,028	279,672	322,381
Earnings from joint ventures	637	610	1,344	1,322
Operating income and earnings from joint ventures	136,633	168,638	281,016	323,703
Other (expense) income:
Interest expense, net	49,645	50,632	99,149	101,742
Change in fair value of derivative instruments	3,087	(2,305)	4,053	(7,499)
Gain on Native American Development	0	8,476	0	8,476
Total other expense	(46,558)	(44,461)	(95,096)	(100,765)
Income before income tax	90,075	124,177	185,920	222,938
Provision for income tax	(13,483)	(15,924)	(26,608)	(28,735)
Net income	76,592	108,253	159,312	194,203
Less: net income attributable to noncontrolling interests	37,474	51,849	77,305	93,050
Net income attributable to Red Rock Resorts, Inc.	$ 39,118	$ 56,404	$ 82,007	$ 101,153
Earnings per common share (Note 11):
Earnings (loss) per share of Class A common stock, basic (in dollars per share) \| $ / shares	$ 0.68	$ 0.96	$ 1.41	$ 1.71
Earnings (loss) per share of Class A common stock, diluted (in dollars per share) \| $ / shares	$ 0.67	$ 0.95	$ 1.40	$ 1.69
Weighted-average common shares outstanding:
Basic (in shares) \| shares	57,888	58,960	58,045	59,081
Diluted (in shares) \| shares	58,805	102,730	59,086	103,060
Major Hotel Casino Properties \| Wholly Owned Properties
Weighted-average common shares outstanding:
Number of casino properties \| Casino_Property	7		7
Casino
Operating revenues:
Net revenues	$ 338,305	$ 344,796	$ 678,827	$ 678,041
Operating costs and expenses:
Operating costs and expenses	90,239	93,862	181,469	183,275
Food and beverage
Operating revenues:
Net revenues	93,033	94,374	183,356	183,646
Operating costs and expenses:
Operating costs and expenses	78,699	75,894	152,886	149,655
Room
Operating revenues:
Net revenues	46,658	51,187	92,172	101,357
Operating costs and expenses:
Operating costs and expenses	15,845	15,941	31,449	31,930
Other
Operating revenues:
Net revenues	28,460	25,908	54,683	51,082
Operating costs and expenses:
Operating costs and expenses	9,983	8,519	17,683	15,762
Native American management and development fees
Operating revenues:
Net revenues	$ 3,806	$ 10,008	$ 8,543	$ 10,008

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	6 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)
Cash flows from operating activities:
Net income	$ 159,312	$ 194,203
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	114,840	96,319
Write-downs and other, net	2,394	181
Amortization of debt discount and debt issuance costs	3,652	3,519
Share-based compensation	17,527	16,347
Change in fair value of derivative instruments	(4,053)	7,499
Gain on Native American Development	0	(8,476)
Deferred income tax	8,480	(21)
Changes in assets and liabilities:
Receivables, net	7,172	(3,806)
Inventories and prepaid expenses	(7,440)	(7,365)
Accounts payable	(1,663)	(2,225)
Accrued interest payable	(245)	(3,591)
Income tax receivable/ payable	9,686	8,358
Other accrued liabilities	(13,206)	(4,558)
Other, net	1,314	(11,717)
Net cash provided by operating activities	297,770	284,667
Cash flows from investing activities:
Capital expenditures, net of related payables	(257,007)	(146,406)
Payments to Acquire Land	0	1,639
Proceeds from repayment of Native American development costs	0	110,500
Native American development costs	0	(34,518)
Other, net	(1,757)	(398)
Net cash used in investing activities	(258,764)	(72,461)
Cash flows from financing activities:
Borrowings under credit agreements with original maturity dates greater than three months	315,000	270,000
Payments under credit agreements with original maturity dates greater than three months	(132,850)	(277,850)
Distributions to noncontrolling interests	(82,284)	(94,930)
Payments for Repurchase of Common Stock	(38,341)	(30,855)
Withholding tax on share-based compensation	(7,255)	(5,220)
Dividends paid	(90,641)	(90,496)
Finance Lease, Principal Payments	(6,687)	0
Tax Receivable Agreement Liability Amount Paid	(1,195)	(1,355)
Other, net	(773)	(682)
Net cash used in financing activities	(45,026)	(231,388)
Decrease in cash and cash equivalents	(6,020)	(19,182)
Balance, beginning of period	142,471	164,383
Balance, end of period	136,451	145,201
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]
Cash and cash equivalents	136,451
Balance, end of period	136,451	145,201
Supplemental cash flow disclosures:
Cash paid for interest, net of $2,669 and $827 capitalized, respectively	95,797	101,902
Capitalized interest	2,669	827
Income Tax Paid, after Refund Received	8,342	20,300
Non-cash investing and financing activities:
Capital expenditures incurred but not yet paid	153,023	47,256
Gain on Native American development Cash Flow Impact	$ 0	$ (8,476)

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 136,451	$ 142,471
Receivables, net	66,732	73,904
Inventories	17,548	17,946
Prepaid gaming tax	31,845	29,158
Prepaid expenses and other current assets	28,610	23,286
Total current assets	281,186	286,765
Property and equipment, net of accumulated depreciation of $1,667,766 and $1,597,591 at June 30, 2026 and December 31, 2025, respectively	3,171,320	2,971,799
Goodwill	195,676	195,676
Intangible assets, net of accumulated amortization of $23,721 and $22,951 at June 30, 2026 and December 31, 2025, respectively	79,330	80,100
Land held for development	469,422	469,422
Deferred tax asset, net	26,437	34,917
Finance lease right-of-use assets, net	47,239	38,561
Other assets, net	94,579	89,833
Total assets	4,365,189	4,167,073
Current liabilities:
Accounts payable	19,982	21,645
Accrued interest payable	23,765	23,752
Other accrued liabilities	169,603	183,280
Taxes Payable, Current	11,967	2,281
Current portion of payable pursuant to tax receivable agreement	1,245	1,195
Current portion of finance lease liabilities	12,804	9,810
Current portion of long-term debt	17,247	17,247
Total current liabilities	415,523	363,182
Long-term debt, less current portion	3,562,609	3,378,501
Long-term finance lease liabilities, less current portion	36,115	31,123
Other long-term liabilities	40,906	42,571
Payable pursuant to tax receivable agreement, less current portion	18,167	19,412
Total liabilities	4,073,320	3,834,789
Stockholders’ equity:
Preferred stock, par value $0.01 per share, 100,000,000 shares authorized; none issued and outstanding	0	0
Additional paid-in capital	4,556	0
Retained earnings	165,922	207,738
Total Red Rock Resorts, Inc. stockholders’ equity	171,070	208,330
Noncontrolling interest	120,799	123,954
Total stockholders’ equity	291,869	332,284
Total liabilities and stockholders’ equity	4,365,189	4,167,073
Construction Payable	158,910	103,972
Class A common stock
Stockholders’ equity:
Common stock	$ 591	$ 591
Common stock, shares issued (in shares)	59,130,385	59,090,847
Common stock, shares outstanding (in shares)	59,130,385	59,090,847
Common stock, shares issued (in shares)	59,130,385	59,090,847
Common stock, shares outstanding (in shares)	59,130,385	59,090,847
Class B common stock
Stockholders’ equity:
Common stock	$ 1	$ 1
Common stock, shares issued (in shares)	45,885,804	45,885,804
Common stock, shares outstanding (in shares)	45,885,804	45,885,804
Common stock, shares issued (in shares)	45,885,804	45,885,804
Common stock, shares outstanding (in shares)	45,885,804	45,885,804