Red Rock Resorts Reports Strong Fourth Quarter and Full Year 2023 Performance

Red Rock Resorts, a prominent casino and hospitality company, has released its unaudited report detailing its performance for the fourth quarter and full year of 2023. The report revealed significant growth in revenue and adjusted EBITDA for the three-month period ending December 31, 2023.

For the fourth quarter of 2023, the company reported net revenues of $462.7 million, representing an 8.8% increase from the previous quarter. Additionally, adjusted EBITDA for the same period increased by 3.6% to $201.3 million.

However, the net income for the fourth quarter of 2023 decreased by 36% to $108.9 million compared to the previous year. Despite this decrease in net income, the company’s Las Vegas operations saw a 9.5% increase in revenue and a 6.5% increase in adjusted EBITDA year-over-year.

A breakdown of the company’s fourth-quarter revenues revealed that casino operations accounted for the majority of its operating revenues, followed by food and beverage, rooms, and other operations.

Looking at the full year of 2023, Red Rock Resorts posted net revenues of $1.72 billion, marking a 3.6% increase from the previous year. Similarly, adjusted EBITDA for the full year increased by 0.3% to $746 million.

The breakdown of the $1.72 billion in revenues for 2023 showed that casino operations contributed $1.13 billion, while food and beverage revenues reached $313.6 million. Additionally, room revenues and revenues from other operations in 2023 surpassed the previous year’s figures.

Overall, Red Rock Resorts has reported strong financial performance for the fourth quarter and full year of 2023, with growth in revenue and adjusted EBITDA across its operations.

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