Red Rock Resorts IncRRR
▼ NegativeCapitalrelevance
Q2 net income fell 29.3% and adjusted EBITDA dropped 9.3%, though dividend was maintained.
Impact on stocks 1
Consumer Discretionary
Red Rock Resorts IncRed Rock Resorts reported second-quarter results for the period ended June 30, with net revenue slipping 3% to $510.3 million, net income falling 29.3% to $76.6 million, and adjusted EBITDA dropping 9.3% to $208 million compared with the same quarter a year earlier. Despite the declines, the board declared a dividend of $0.26 per Class A share, payable September 30 to stockholders of record as of September 15. Las Vegas operations, which account for nearly all of the company's revenue, saw net revenue decline just 2% to $503.2 million and adjusted EBITDA fall 5% to $227.5 million, while the Native American segment saw revenue collapse 62% to $3.8 million and adjusted EBITDA drop 72% to $2.8 million. The company ended the quarter with $136.5 million in cash against $3.6 billion in total principal debt, and short interest stands at 11.47% of float.
Red Rock Resorts IncQ2 net income fell 29.3% and adjusted EBITDA dropped 9.3%, though dividend was maintained.