LAS VEGAS – November 03, 2026 -- Red Rock Resorts (NASDAQ: RRR) swung to a third-quarter net loss of $17.7 million, against net income of $76.9 million a year earlier, after booking $79.1 million of share-based compensation tied to its 50th anniversary stock awards.
Net revenues rose 2.8%, or $13.1 million, to $488.7 million from $475.6 million in the third quarter of 2025. The net result fell $94.6 million year on year. The company also booked $6.9 million of other one-time 50th anniversary expenses.
Adjusted EBITDA falls 4.3% to $182.6 million despite higher revenue
Adjusted EBITDA declined $8.3 million from $190.9 million. The 2026 figure includes $5.8 million of one-time anniversary expenses. The company granted the stock awards to substantially all full-time and part-time employees.
Las Vegas operations add $10.5 million in revenue but lose $4.8 million in EBITDA
Las Vegas net revenues climbed 2.2% to $479.1 million from $468.6 million. Segment adjusted EBITDA slipped 2.3% to $204.6 million from $209.4 million.
Native American activities grow revenue 59.0% to $6.2 million
Revenue from Native American activities rose $2.3 million from $3.9 million. Adjusted EBITDA increased 30.8%, or $1.2 million, to $5.1 million from $3.9 million. The segment remains small next to Las Vegas operations.
Debt stands at $3.7 billion against $128.3 million in cash
Cash and cash equivalents were $128.3 million at September 30, 2026. Total principal debt outstanding was $3.7 billion.
Board declares $0.26 dividend payable December 31
The board declared a cash dividend of $0.26 per Class A common share for the fourth quarter. It is payable December 31, 2026, to holders of record at the close of business on December 15, 2026.
Before the payment, Station Holdco LLC will distribute $0.26 per unit to all unit holders of record, about $29.2 million in total. Red Rock Resorts is expected to receive about $17.3 million, and the other unit holders about $11.9 million.