May 8, 2024 3 min read


Red Rock’s Q1 Results Point To Stellar Start of 2024

The company reported results that were on par with projections from industry analysts, signaling a strong start to the year

Red Rock Resorts, the leading hospitality, entertainment and casino company, released its first quarter results, highlighting a strong start to the year with increases in adjusted EBITDA and net revenues. The latest unaudited figures emerged earlier this week, uncovering insights regarding the company’s performance for the three months ended March 31, 2024.

The latest financial results marked a strong growth of net revenues year-over-year to $488.9 million. For the first quarter of this year, when compared to the same period in 2023, a notable increase of 12.7% is observed.

Similarly strong was the result for adjusted EBITDA. The figure reported by Red Rock for Q1 this year was $209.1 million. A comparison to the corresponding period in 2023, when adjusted EBITDA halted at $194.2 million, shows a year-over-year increase of 7.7%.

In contrast to the increases in net revenues and adjusted EBITDA, Red Rock’s net income dipped during the first quarter. The company reported a $78.4 million net income for the first quarter of 2024, a figure that represented an 8.4% decrease year-over-year when compared to the $85.5 million figure posted in Q1 for the prior year period.

The latest results came pretty close to initial projects by expert analysts. GuruFocus, the leading online-based value investing research company, estimated that Red Rock’s Q1 revenue will hit $489.6 million. The recently posted result of $488.9 million revenue result was on par with the initial projections.

The strong start of 2024 came after Red Rock reported solid results for Q4 and the full year 2023. Overall, the net revenue reported by the company for 2023 was $1.72 billion, a result that marked an increase of $60.3 million or a 3.6% uptick year-over-year.

All Operating Segments Post Year-over-Year Revenue Increase

Red Rock provided a breakdown of its most recent financial results. The detailed breakdown of the $488.9 million in operating revenue reported for the first quarter reveals growth within all different operating segments.

Not unexpectedly, the lion’s share of the operating revenue came from Red Rock’s casino operations. For the first quarter of 2023, the company reported $288.2 million in casino revenue, a figure that soared to $316.9 million in the latest trading period.

Food and beverage revenues in the first quarter of this year increased as well, hitting $93.3 million. In contrast, for the same period in 2023, food and beverage revenue halted at $78.1 million.

An increase was observed in the Red Rock’s revenues from hotel rooms, as well as other amenities. For the three months ended March 31, 2023, the company reported $43.9 million in room revenues and $23.3 million in revenue from other amenities, while in Q1 this year, the revenues hit $52.9 million and $25.9 million respectively.


Jerome is a welcome new addition to the Gambling News team, bringing years of journalistic experience within the iGaming sector. His interest in the industry begun after he graduated from college where he played in regular local poker tournaments which eventually lead to exposure towards the growing popularity of online poker and casino rooms. Jerome now puts all the knowledge he's accrued to fuel his passion for journalism, providing our team with the latest scoops online.

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