Every material Form 8-K Red Rock Resorts has filed with the SEC since February 07, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Red Rock Resorts reported third quarter 2026 net revenues of $488.7 million, up 2.8% from a year earlier, but swung to a net loss of $17.7 million from net income of $76.9 million. The loss mainly reflects $79.1 million of share-based compensation tied to 50th anniversary stock awards given to substantially all full-time and part-time employees. The company also declared a $0.26 per share quarterly dividend for the fourth quarter of 2026.
Net revenues $488.7 million, up $13.1 million (2.8%) from $475.6 million in Q3 2025
Net loss $17.7 million vs. net income of $76.9 million in Q3 2025; diluted loss per Class A share $(0.17) vs. $0.68
Adjusted EBITDA $182.6 million, down 4.3% from $190.9 million, including $5.8 million of one-time 50th anniversary expenses
Board declared $0.26 per Class A share dividend for Q4 2026, payable December 31, 2026 to holders of record on December 15, 2026
On October 21, 2026, Station Casinos LLC, a subsidiary of Red Rock Resorts, entered into an incremental joinder to its senior secured credit agreement for $500 million of term B loans. The new loans are fungible with the existing term B loans, bear interest at Term SOFR plus 2.00%, and the company intends to use the proceeds mainly to repay revolving loans. The filing adds $500 million of debt that shareholders will need to consider, and it does not include earnings or guidance.
$500 million in aggregate principal of incremental term B loans, dated October 21, 2026
Interest at Term SOFR plus 2.00% per annum, or base rate plus 1.00%
Proceeds intended to repay revolving loans, pay fees and expenses, and for general corporate purposes
Loans are guaranteed and secured by subsidiary guarantors' assets, equity pledges and certain real property mortgages
Red Rock Resorts reported second quarter 2026 results, with net revenues of $510.3 million, down 3.0% from a year earlier, and net income of $76.6 million, down 29.3%. Adjusted EBITDA fell 9.3% to $208.0 million, and the Board declared a $0.26 per Class A share dividend for the quarter.
Net revenues were $510.3 million, down $16.0 million (3.0%) from $526.3 million in Q2 2025.
Net income was $76.6 million, down $31.7 million (29.3%); diluted EPS of Class A stock was $0.67 versus $0.95.
Adjusted EBITDA was $208.0 million, down 9.3%; Las Vegas operations Adjusted EBITDA fell 5.0% to $227.5 million.
Dividend of $0.26 per Class A share is payable September 30, 2026 to holders of record on September 15, 2026.
Red Rock Resorts said Chief Legal Officer Jeffrey T. Welch will step down effective September 8, 2026, and move to a non-officer role providing transition services through December 31, 2026. The company appointed J. Colby Williams, a senior partner at Campbell & Williams, as Executive Vice President and General Counsel, with a start expected on or around September 8, 2026. The filing covers an executive transition, not a change in reported financial results.
Jeffrey T. Welch steps down as Chief Legal Officer effective September 8, 2026, and will receive his $900,000 annual base salary through December 31, 2026, plus a bonus for 2026
J. Colby Williams, age 56, named Executive Vice President and General Counsel, effective on or around September 8, 2026
Williams' employment agreement sets a fixed five-year term, a base salary of not less than $1.2 million, and a target bonus of 125% of base salary
Williams' initial equity award has a target grant value of not less than 400% of his annual base salary
Red Rock Resorts reported first quarter 2026 net revenues of $507.3 million, up 1.9% from a year earlier, while net income fell 3.8% to $82.7 million and Adjusted EBITDA fell 1.2% to $212.6 million. The company also declared a $0.26 per share dividend for the second quarter, which shareholders of record on June 15, 2026 will receive on June 30, 2026.
Net revenues were $507.3 million, up $9.4 million or 1.9% from $497.9 million in Q1 2025.
Net income was $82.7 million, down $3.3 million or 3.8%; diluted EPS for Class A stock was $0.73 versus $0.75.
Adjusted EBITDA was $212.6 million, down $2.5 million or 1.2%; Las Vegas operations Adjusted EBITDA fell 1.5% to $232.4 million.
Board declared a $0.26 per Class A share dividend, payable June 30, 2026 to holders of record on June 15, 2026.
Red Rock Resorts reported fourth quarter and full year 2025 results in a press release attached as Exhibit 99.1. Fourth-quarter net revenues rose 3.2% to $511.8 million and Adjusted EBITDA rose 5.4% to $213.3 million, while net income fell 3.5% to $84.6 million. For the full year, net income rose 22.1% to $355.7 million, and the board declared a $1.00 special dividend per Class A share, payable February 27, 2026.
Q4 2025 net revenues were $511.8 million, up 3.2% from $495.7 million in Q4 2024.
Q4 2025 net income was $84.6 million, down 3.5% from $87.7 million.
Full-year 2025 net income was $355.7 million, up 22.1%, and net revenues were $2.01 billion, up 3.7%.
Special dividend of $1.00 per Class A share is payable February 27, 2026 to holders of record on February 20, 2026; a $0.26 quarterly dividend is payable March 31, 2026.
Red Rock Resorts reported third-quarter 2025 results on October 28, 2025, with net revenues of $475.6 million, up 1.6%, and net income of $76.9 million, up 38.8% from a year earlier. The board also added $300 million to its share repurchase program, extended the program to December 31, 2027, and declared a $0.26 fourth-quarter dividend per Class A share.
Net revenues were $475.6 million, up 1.6% or $7.6 million from $468.0 million; adjusted EBITDA was $190.9 million, up 4.5%
Net income was $76.9 million, up 38.8% or $21.5 million from $55.4 million
Board authorized an additional $300 million under the $600 million repurchase program; about $573 million remains as of October 28, 2025
Fourth-quarter dividend of $0.26 per Class A share, payable December 31, 2025 to holders of record on December 15, 2025
Red Rock Resorts reported second quarter 2025 results, with net revenues of $526.3 million, up 8.2%, and net income of $108.3 million, up 55.1%, from the same period of 2024. Adjusted EBITDA rose 13.7% to $229.4 million, and the Board declared a $0.25 per share third quarter dividend.
Net revenues were $526.3 million, up $39.9 million (8.2%) from $486.4 million a year earlier.
Net income was $108.3 million, up 55.1%; net income attributable to Red Rock Resorts was $56.4 million versus $35.7 million.
Adjusted EBITDA was $229.4 million, up 13.7%; Las Vegas operations Adjusted EBITDA was $239.4 million, up 7.3%.
Third quarter dividend of $0.25 per Class A share is payable September 30, 2025 to holders of record on September 15, 2025.
Red Rock Resorts reported first quarter 2025 net revenues of $497.9 million, up 1.8%, and net income of $86.0 million, up 9.7%, both versus the first quarter of 2024. Adjusted EBITDA rose 2.8% to $215.1 million, and diluted earnings per share were $0.75 compared with $0.68 a year earlier. The Board also declared a $1.00 special dividend and a $0.25 quarterly dividend.
Net revenues were $497.9 million, up $9.0 million (1.8%) from $488.9 million; Las Vegas operations contributed $495.0 million.
Net income was $86.0 million, up 9.7% from $78.4 million; net income attributable to Red Rock Resorts, Inc. was $44.7 million versus $42.8 million.
Diluted EPS for Class A common stock was $0.75 versus $0.68; Adjusted EBITDA was $215.1 million, up 2.8%.
A $1.00 special dividend is payable May 21, 2025 (record date May 14, 2025); a $0.25 quarterly dividend is payable June 30, 2025 (record date June 16, 2025).
Red Rock Resorts reported fourth quarter 2024 net revenues of $495.7 million, up 7.1%, while net income fell 19.5% to $87.7 million. For the full year, net revenues rose 12.5% to $1.94 billion, but net income declined 13.8% to $291.3 million, so revenue growth did not carry through to profit for shareholders.
Q4 2024 Adjusted EBITDA was $202.4 million, up 0.5% from $201.3 million in Q4 2023.
Q4 2024 diluted earnings per Class A share were $0.76, versus $0.95 in Q4 2023.
Board declared a $0.25 per Class A share dividend for Q1 2025, payable March 31, 2025 to holders of record on March 17, 2025.
Station Casinos LLC, a subsidiary of Red Rock Resorts, signed a First Amendment to its credit agreement on December 18, 2024, lowering the interest rate margins on its existing approximately $1.54 billion term B loan facility. The filing does not state the financial effect on the company's results, and the terms otherwise are described only in general language.
Amendment dated December 18, 2024, with Deutsche Bank AG Cayman Islands Branch as administrative agent
Term SOFR margin reduced to 2.00% per annum; Base Rate margin reduced to 1.00% per annum
Existing term B loan facility is approximately $1.54 billion; Term SOFR floor is 0.0%
Red Rock Resorts reported third quarter 2024 net revenues of $468.0 million, up 13.7% from a year earlier, and Adjusted EBITDA of $182.7 million, up 4.3%. Net income fell 19.0% to $55.4 million, and diluted earnings per share were $0.48 versus $0.60, so revenue and Adjusted EBITDA growth did not carry through to the bottom line for shareholders.
Net revenues were $468.0 million, up $56.4 million from $411.6 million in Q3 2023; Las Vegas operations revenues were $464.7 million.
Net income was $55.4 million, down $13.0 million from $68.4 million; diluted EPS was $0.48 versus $0.60.
The Board declared a $0.25 per Class A share dividend for Q4 2024, payable December 31, 2024 to holders of record as of December 16, 2024.
Red Rock Resorts reported second quarter 2024 net revenues of $486.4 million, up 16.9% from a year earlier, and Adjusted EBITDA of $201.7 million, up 15.0%. Net income fell 6.8% to $69.8 million, and diluted earnings per share were $0.59 versus $0.65, so top-line and cash-earnings growth came alongside lower bottom-line profit for shareholders.
Net revenues were $486.4 million, up $70.3 million from $416.1 million in Q2 2023.
Net income was $69.8 million, down from $74.9 million; net income attributable to Red Rock Resorts was $35.7 million versus $39.5 million.
Diluted earnings per Class A share were $0.59 versus $0.65; the filing cites $0.25 quarterly dividend declared for Q3 2024, payable September 30, 2024.
Total principal amount of debt outstanding was $3.5 billion at quarter end, with cash and cash equivalents of $136.4 million.
Red Rock Resorts reported first quarter 2024 results, with net revenues up 12.7% to $488.9 million and Adjusted EBITDA up 7.7% to $209.1 million. Net income fell 8.4% to $78.4 million, and diluted earnings per share were $0.68 versus $0.75 a year earlier, so top-line growth did not carry through to bottom-line profit for shareholders.
Net revenues were $488.9 million, up $55.3 million from $433.6 million in Q1 2023
Net income was $78.4 million, down $7.2 million from $85.5 million; diluted EPS was $0.68 versus $0.75
Loss on extinguishment/modification of debt was $14.4 million; interest expense, net was $57.2 million
Board declared a $0.25 per Class A share dividend payable June 28, 2024 to holders of record on June 14, 2024
On March 14, 2024, Station Casinos LLC, a Red Rock Resorts subsidiary, issued $500 million of 6.625% senior notes due 2032 and entered into an amended and restated credit agreement with a new $1,570.0 million term B loan and a $1,100.0 million revolving credit facility. The company said it will use the proceeds, together with term loan borrowings and $200.0 million drawn on the revolver, to refinance its existing 2016 credit agreement and pay related fees and costs. The filing shows the transaction adds to the company's debt load, with the new loans maturing in 2029 and 2031 and the notes in 2032.
$500 million of 6.625% senior notes due 2032 issued March 14, 2024; interest is paid each March 15 and September 15, starting September 15, 2024.
New $1,570.0 million term B loan maturing March 14, 2031, and $1,100.0 million revolving credit facility maturing March 14, 2029.
Proceeds and $200.0 million of revolver borrowings are used to refinance the Existing Credit Agreement dated June 8, 2016, and for fees and general corporate purposes.
Red Rock Resorts said Chief Operating Officer Robert A. Finch resigned effective February 20, 2024, and will stay on in a non-officer role through July 31, 2024. The board appointed Kord Nichols, who has been with the company since 2008, as Executive Vice President and Chief Operating Officer on the same date, a senior operating change that shareholders may watch for its effect on day-to-day management.
Robert A. Finch resigned as Chief Operating Officer effective February 20, 2024; he will provide transition services through July 31, 2024, at a $650,000 annual base salary
Kord Nichols, age 42, was appointed Executive Vice President and Chief Operating Officer effective February 20, 2024
Nichols' annual base salary rises from $650,000 to $750,000 effective March 3, 2024, with a long-term incentive target of not less than 300% of base salary
Red Rock Resorts reported fourth-quarter 2023 net revenues of $462.7 million, up 8.8%, while net income fell 36.0% to $108.9 million. For the full year, net revenues rose 3.6% to $1.72 billion, but net income fell 13.5% to $337.8 million. The board also declared a $1.00 special dividend per Class A share, payable March 4, 2024, in addition to a $0.25 quarterly dividend.
Q4 2023 Adjusted EBITDA was $201.3 million, up 3.6% from $194.4 million a year earlier.
Full-year 2023 net income attributable to the company was not separately stated; consolidated net income was $337.8 million, down 13.5%.
Special dividend of $1.00 per Class A share, payable March 4, 2024, to holders of record on February 22, 2024.
Quarterly dividend of $0.25 per Class A share, payable March 29, 2024, to holders of record on March 15, 2024; cash was $137.6 million and debt was $3.4 billion at December 31, 2023.
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