Red Rock Resorts, Inc. RRR
Red Rock Resorts, Inc. ("we," "our," "us," "Red Rock" or the "Company") is a holding company that owns an indirect equity interest in and manages Station Casinos LLC ("Station LLC"), through which we conduct all of our operations. Station LLC is a gaming, development and management company established in 1976 that develops and operates strategically-located casino and entertainment properties. Station LLC owns and operates seven major gaming and entertainment facilities, including Durango Casino & Resort ("Durango"), and 13 smaller casinos (three of which are 50% owned). Durango opened in December of 2023 on approximately 50 acres of land at the intersection of Interstate 215 and Durango Drive in the southwest Las Vegas valley.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.01B | $1.94B | $1.72B | $1.66B | $1.62B | $1.18B | $1.86B | $1.68B | $1.64B | $1.48B |
| SG&A | $441.3M | $432.3M | $374.5M | $353.0M | $347.1M | $324.6M | $416.4M | $390.5M | $380.9M | $327.3M |
| Total operating expenses | $1.41B | $1.37B | $1.17B | $1.10B | $1.22B | $1.09B | $1.67B | $1.31B | $1.31B | $1.17B |
| Operating income | $597.4M | $568.7M | $558.7M | $561.3M | $401.5M | $88.6M | $186.0M | $372.2M | $331.3M | $309.7M |
| Interest expense | $201.9M | $228.8M | $181.0M | $129.9M | $103.2M | $128.5M | $156.7M | $143.1M | $131.4M | $140.2M |
| Pre-tax income | $402.3M | $328.2M | $380.8M | $434.9M | $285.5M | -$60.5M | -$8.5M | $243.4M | $198.3M | $164.2M |
| Income tax | $46.6M | $36.9M | $43.0M | $44.5M | $69.3M | $114.1M | $1.7M | $23.9M | $134.8M | $8.2M |
| Net income | $355.7M | $291.3M | $337.8M | $390.4M | $354.8M | -$150.4M | -$3.4M | $157.5M | $35.4M | $92.0M |
| EPS, basic | 3.19 | 2.61 | 3.04 | 3.48 | 3.50 | -2.13 | -0.05 | 2.28 | 0.53 | 1.04 |
| EPS, diluted | 3.12 | 2.53 | 2.94 | 3.36 | 2.84 | -2.13 | -0.05 | 1.77 | 0.42 | 1.03 |
| Shares, diluted (wtd. avg.) | $102.6M | $103.7M | $103.2M | $104.7M | $116.5M | $70.5M | $69.6M | $116.9M | $115.9M | $34.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $142.5M | $164.4M | $137.6M | $117.3M | $307.3M | $125.7M | $132.9M | $118.3M | $234.7M | $136.2M |
| Receivables | $73.9M | $64.4M | $61.9M | $43.6M | $36.7M | $35.1M | $56.7M | $51.4M | $48.7M | $43.5M |
| Inventory | $17.9M | $16.4M | $15.3M | $13.2M | $11.7M | $13.1M | $17.8M | $14.9M | $12.6M | $12.0M |
| Total current assets | $286.8M | $295.4M | $282.3M | $221.0M | $378.5M | $224.7M | $281.6M | $262.0M | $341.6M | $249.8M |
| Property, plant and equipment | $2.97B | $2.78B | $2.77B | $2.20B | $2.01B | $2.86B | $3.06B | $3.01B | $2.54B | $2.44B |
| Goodwill | $195.7M | $195.7M | $195.7M | $195.7M | $195.7M | $195.7M | $195.7M | $195.7M | $195.7M | $195.7M |
| Other intangibles | $80.1M | $81.2M | $82.8M | $84.4M | $87.2M | $100.8M | $108.5M | $117.2M | $128.0M | $149.2M |
| Total assets | $4.17B | $4.05B | $3.95B | $3.35B | $3.14B | $3.74B | $4.11B | $4.01B | $3.62B | $3.53B |
| Accounts payable | $21.6M | $31.8M | $25.4M | $11.4M | $17.5M | $11.2M | $34.0M | $25.9M | $21.6M | $30.7M |
| Short-term debt | $17.2M | $52.9M | $26.1M | $26.1M | $25.9M | $22.8M | $34.0M | $33.9M | $30.1M | $46.1M |
| Total current liabilities | $363.2M | $325.2M | $349.2M | $293.2M | $204.8M | $200.3M | $276.0M | $333.7M | $245.3M | $246.8M |
| Long-term debt | $3.38B | $3.35B | $3.30B | $2.96B | $2.83B | $2.88B | $3.00B | $2.82B | $2.59B | $2.38B |
| Total liabilities | $3.83B | $3.74B | $3.71B | $3.31B | $3.09B | $3.14B | $3.33B | $3.19B | $2.99B | $2.89B |
| Retained earnings | $207.7M | $195.8M | $160.9M | $43.2M | $3.9M | -$33.1M | $124.4M | $155.9M | $26.1M | $17.6M |
| Total equity | $208.3M | $215.1M | $243.9M | $32.2M | $50.0M | $604.6M | $782.6M | $817.0M | $631.7M | $627.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $609.5M | $548.3M | $494.3M | $542.2M | $610.0M | $212.8M | $316.6M | $346.0M | $290.0M | $346.4M |
| Depreciation and amortisation | $197.4M | $187.1M | $132.5M | $128.4M | $157.8M | $231.4M | $222.2M | $180.3M | $178.2M | $156.7M |
| Stock-based compensation | $32.1M | $30.9M | $19.7M | $17.5M | $12.7M | $10.9M | $16.8M | $11.3M | $7.9M | $6.9M |
| Capital expenditure | $319.0M | $283.9M | $699.5M | $328.6M | $61.3M | $58.5M | $353.3M | $579.3M | $248.4M | $162.4M |
| Investing cash flow | -$245.8M | -$321.8M | -$653.9M | -$442.1M | $586.3M | -$69.6M | -$405.1M | -$606.7M | -$281.7M | -$441.9M |
| Financing cash flow | -$385.6M | -$199.7M | $179.8M | -$290.0M | -$1.01B | -$150.4M | $103.2M | $144.2M | $90.3M | $115.0M |
| Dividends paid | $120.8M | $118.4M | $58.6M | $116.7M | $203.8M | $7.3M | $27.9M | $27.7M | $27.0M | $10.6M |
| Buybacks | $79.0M | $3.9M | $0 | $141.5M | $500.2M | $0 | $376.0K | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-173964.
Others in SIC 7011
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MAR | MARRIOTT INTERNATIONAL INC /MD/ | $87.75B | 35.4x | 4.3% |
| HLT | Hilton Worldwide Holdings Inc. | $70.04B | 50.8x | 7.7% |
| LVS | LAS VEGAS SANDS CORP | $28.74B | 18.9x | 15.2% |
| H | Hyatt Hotels Corp | $15.64B | — | 6.8% |
| MGM | MGM Resorts International | $10.37B | 54.2x | 1.7% |
| WYNN | WYNN RESORTS LTD | $9.43B | 29.2x | 0.1% |
| CZR | Caesars Entertainment, Inc. | $6.05B | — | 2.1% |
| BYD | BOYD GAMING CORP | $5.67B | 3.5x | 4.1% |