Red Rock Resorts (RRR) Q1 2024 Earnings

Yes. Red Rock Resorts reported Q1 2024 earnings of $0.68 a share on May 7, 2024, beating the $0.66 consensus estimate by 3.0%. Revenue was $488.9M against a $489.6M estimate.

Red Rock Resorts delivered a mixed but broadly encouraging first quarter for 2024, edging past earnings expectations even as revenue came in fractionally light. The Las Vegas-focused casino operator posted diluted EPS of $0.68, topping the $0.66 consensus estimate by 3.03%, while revenue of $488.90 million grew 12.7% year over year but fell just 0.15% short of the $489.64 million Wall Street had expected. The headline growth story was the Durango Resort & Casino, opened in late 2023, which helped lift Las Vegas segment revenues 12.9% and contributed to what the company described as a record quarter for its regional locals business. That top-line momentum was partially offset at the bottom line, where net income declined 8.4% to $78.37 million, pressured by a $14.40 million debt extinguishment loss and interest expense that climbed to $57.20 million from $42.46 million a year ago. Adjusted EBITDA rose 7.7% to $209.14 million, underscoring the underlying operational strength even as elevated leverage weighed on reported earnings.