Red Rock Resorts Reports Q3 2026 Net Loss Amid One-Time Anniversary Stock Grants
Red Rock Resorts (RRR) reported third-quarter 2026 net revenue of $488.7 million, a 2.8% increase driven by record gaming revenue in Las Vegas and significant growth in Native American management fees. However, the company posted a net loss of $17.7 million, a sharp decline from last year's profit, primarily due to a one-time $79.1 million share-based compensation expense issued for the company's 50th anniversary. Adjusted EBITDA fell 4.3% to $182.6 million as construction disruptions at core properties and rising utility costs impacted margins. Despite these headwinds, the company saw strong performance in its Native American segment following the opening of the North Fork property. Management has revised full-year capital expenditure guidance upward to a range of $550 million to $570 million to account for project scope enhancements and construction delays.