Jun 2026 (Q2 FY26) — Aug 4, 2026
Red Rock Resorts Q2 FY26 — Strong Las Vegas Operations and Durango Expansion Progress
Read the full callRed Rock Resorts (RRR) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Red Rock Resorts earnings: last reported Tue, 4 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 510 | −3.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 26.6 | −5.3 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 39.1 | −30.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
3 of 3 judged targets kept · 15 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Tavern rollout (additional locations beyond the first) | 6 more taverns opening within 2025, bringing the total to 8 | Dec 2024 | we just opened up our 6 of 8 taverns. We have 2 more to go, one in October, one at the end of the year. | Delayed |
| Durango North (Phase 3) expansion cost and opening | approximately $385 million; construction beginning January 2026, approximately 18 months to complete | Sep 2025 | construction of the Durango North expansion is progressing well and remains on schedule to open in the second half of 2027 | On Track |
| Durango Phase II expansion (garage, high-limit slot room) cost and completion | approximately $116 million, approximately 12 months to complete | Sep 2024 | Since completing our December expansion, adding more than 25,000 square feet of casino space, the premier high limit slot area, and nearly 2,000 additional covered parking spaces. | Achieved |
15 of Red Rock Resorts, Inc.'s 18 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 15 more targets are in the full ledger.
Claimed
- Las Vegas operations delivered second highest Q2 net revenue and adjusted EBITDA in company history, despite tough prior-year comparisons.
- Durango property continued exceptional performance, establishing itself as a meaningful growth driver and validating investment strategy.
- Converted 48% of adjusted EBITDA to operating free cash flow, generating $100 million or $0.95 per share in Q2 FY26.
- Hotel and Food & Beverage divisions delivered strong revenue, supported by higher occupancy and guest volumes across the portfolio.
Qualified
- Las Vegas operations net revenue decreased 2% year-over-year to $503.2 million.
- Consolidated adjusted EBITDA decreased 9.3% year-over-year to $208 million.
- Consolidated adjusted EBITDA margin decreased by 281 basis points year-over-year to 40.8%.
- Temporary disruption at Green Valley Ranch due to hotel renovation impacted revenue and profitability by approximately $7 million in Q2 FY26.
Price
$50.48 +1.43% · +$0.71
Performance −12.5% 1Y
1Y: $57.67 on 14 Oct 2025 → $50.48. High $67.26 (26 Jun 2026), low $48.76 (22 Sept 2026).
- Previous close
- $49.77
- 52-week range
- $48.76 – $67.26
- One year
- −13.58%
Overview
- Symbol
- RRR
- Sector
- Consumer Discretionary
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
3 of 3 judged targets kept · 15 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Tavern rollout (additional locations beyond the first) | 6 more taverns opening within 2025, bringing the total to 8 | Dec 2024 | we just opened up our 6 of 8 taverns. We have 2 more to go, one in October, one at the end of the year. | Delayed |
| Durango North (Phase 3) expansion cost and opening | approximately $385 million; construction beginning January 2026, approximately 18 months to complete | Sep 2025 | construction of the Durango North expansion is progressing well and remains on schedule to open in the second half of 2027 | On Track |
| Durango Phase II expansion (garage, high-limit slot room) cost and completion | approximately $116 million, approximately 12 months to complete | Sep 2024 | Since completing our December expansion, adding more than 25,000 square feet of casino space, the premier high limit slot area, and nearly 2,000 additional covered parking spaces. | Achieved |
Claimed
- Las Vegas operations delivered second highest Q2 net revenue and adjusted EBITDA in company history, despite tough prior-year comparisons.
- Durango property continued exceptional performance, establishing itself as a meaningful growth driver and validating investment strategy.
- Converted 48% of adjusted EBITDA to operating free cash flow, generating $100 million or $0.95 per share in Q2 FY26.
- Hotel and Food & Beverage divisions delivered strong revenue, supported by higher occupancy and guest volumes across the portfolio.
Qualified
- Las Vegas operations net revenue decreased 2% year-over-year to $503.2 million.
- Consolidated adjusted EBITDA decreased 9.3% year-over-year to $208 million.
- Consolidated adjusted EBITDA margin decreased by 281 basis points year-over-year to 40.8%.
- Temporary disruption at Green Valley Ranch due to hotel renovation impacted revenue and profitability by approximately $7 million in Q2 FY26.
The full ledger
Open Red Rock Resorts, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 18 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 29, 2026
Red Rock Resorts Q1 FY26 — Record Gaming Performance and Strategic Expansions
Read the full callEvery analysed call
Red Rock Resorts earnings calls (RRR)
Financials
What the filings say
Net profit, year on year: −31% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 468 | 496 | 498 | 526 | 476 | 512 | 507 | 510 |
| Operating profit | 131 | 142 | 154 | 168 | 131 | 144 | 144 | 136 |
| Operating margin | 27.9% | 28.7% | 31.0% | 31.9% | 27.6% | 28.1% | 28.3% | 26.6% |
| Other income | -68 | -44 | -56 | -44 | -49 | -48 | -49 | -47 |
| Interest | 58 | 56 | 51 | 51 | 50 | 50 | 50 | 50 |
| Profit before tax | 63 | 99 | 99 | 124 | 83 | 96 | 96 | 90 |
| Tax rate | 12.7% | 11.0% | 13.0% | 12.8% | 7.9% | 11.8% | 13.7% | 15.0% |
| Net profit | 29 | 47 | 45 | 56 | 42 | 45 | 43 | 39 |
| EPS ($ per share) | 0.49 | — | 0.76 | 0.96 | 0.72 | — | 0.74 | 0.68 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | 156 | 124 | -33 | 4 | 43 | 161 | 196 | 208 |
| Total liabilities | 3,193 | 3,332 | 3,135 | 3,090 | 3,314 | 3,711 | 3,739 | 3,835 |
| Fixed assets | 3,012 | 3,062 | 2,858 | 2,010 | 2,195 | 2,772 | 2,782 | 2,972 |
| Total assets | 4,010 | 4,114 | 3,740 | 3,140 | 3,346 | 3,955 | 4,046 | 4,167 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 346 | 317 | 213 | 610 | 542 | 494 | 548 | 610 |
| Cash from investing | -607 | -405 | -70 | 586 | -442 | -654 | -322 | -246 |
| Cash from financing | 144 | 103 | -150 | -1,015 | -290 | 180 | -200 | -386 |
| Net cash flow | -116 | 15 | -7 | 182 | -190 | 20 | 27 | -22 |
| Capital expenditure | -579 | -353 | -58 | -61 | -329 | -700 | -284 | -319 |
| Free cash flow | -233 | -37 | 154 | 549 | 214 | -205 | 264 | 291 |
RRR revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Las Vegas Operations | 99% | 99% | 99% | 98% | 99% | 99% | 98% | 99% | -2.0% |
| Native American Management | — | — | 0% | 2% | 1% | 1% | 1% | 1% | -62.0% |
| Corporate and Other | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | +9.8% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
RRR operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Capital expenditures Investment capital | ~$87.2MCapital spend in the quarter was $117.2 million which includes approximately $87.2 million in investment capital as well as $30 million in maintenance capital.Source: earnings call transcript | ~$94.4MCapital spend in the quarter was $139.8 million, which includes approximately $94.4 million in investment capital as well as $45.4 million in maintenance capital.Source: earnings call transcript | — |
| Capital expenditures Maintenance capital | $30MCapital spend in the quarter was $117.2 million which includes approximately $87.2 million in investment capital as well as $30 million in maintenance capital.Source: earnings call transcript | $45.4MCapital spend in the quarter was $139.8 million, which includes approximately $94.4 million in investment capital as well as $45.4 million in maintenance capital.Source: earnings call transcript | +51.3% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
27 filings between Nov 4, 2025 and Sep 1, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$3.04M
3 sales by 3 insiders
Compensation
not trading decisions- 8
- Award — granted as compensation
- 4
- Option exercise — converted options into shares
- 12
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| KREEGER SCOTT | — | $1.92M | Aug 7, 2026 |
| Nichols Kord | — | $616.8K | Aug 12, 2026 |
| Welch Jeffrey T | — | $502.9K | Sep 1, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 1, 2026 | Welch Jeffrey T EVP and Chief Legal Officer | Sale | 9,000 | $502.9K |
| Aug 12, 2026 | Nichols Kord EVP & Chief Operating Officer | Sale | 9,791 | $616.8K |
| Aug 11, 2026 | Nichols Kord EVP & Chief Operating Officer | Option exercise | 27,000 | $674.5K |
| Aug 11, 2026 | Nichols Kord EVP & Chief Operating Officer | Tax withheld | 17,209 | $1.07M |
| Aug 7, 2026 | KREEGER SCOTT President | Sale | 31,159 | $1.92M |
| Aug 6, 2026 | KREEGER SCOTT President | Tax withheld | 143,841 | $8.91M |
| Aug 6, 2026 | KREEGER SCOTT President | Option exercise | 128,600 | $5.68M |
| Aug 6, 2026 | KREEGER SCOTT President | Option exercise | 46,400 | $1.97M |
| Jun 11, 2026 | KREEGER SCOTT President | Award | 45,130 | $0 |
| Jun 11, 2026 | Nichols Kord EVP & Chief Operating Officer | Award | 32,092 | $0 |
| Jun 11, 2026 | FERTITTA FRANK J III Chief Executive Officer | Award | 148,427 | $0 |
| Jun 11, 2026 | Cootey Stephen Lawrence EVP & Chief Financial Officer | Award | 38,511 | $0 |
| Jun 11, 2026 | FERTITTA LORENZO J Vice President | Award | 148,427 | $0 |
| May 26, 2026 | Welch Jeffrey T EVP and Chief Legal Officer | Tax withheld | 84,007 | $4.73M |
| May 26, 2026 | Welch Jeffrey T EVP and Chief Legal Officer | Option exercise | 126,731 | $3.17M |
| Mar 18, 2026 | Nichols Kord EVP & Chief Operating Officer | Tax withheld | 4,065 | $239.1K |
| Mar 18, 2026 | Cootey Stephen Lawrence EVP & Chief Financial Officer | Tax withheld | 3,952 | $232.4K |
| Mar 18, 2026 | Welch Jeffrey T EVP and Chief Legal Officer | Tax withheld | 4,690 | $275.8K |
| Mar 3, 2026 | KREEGER SCOTT President | Tax withheld | 8,920 | $534.8K |
| Feb 12, 2026 | NAVE JAMES E D V M Director | Award | 3,221 | $0 |
| Feb 12, 2026 | Cashell Robert A. JR Director | Award | 3,221 | $0 |
| Feb 12, 2026 | Lewis Robert E Director | Award | 3,221 | $0 |
| Feb 10, 2026 | Welch Jeffrey T EVP and Chief Legal Officer | Tax withheld | 1,494 | $99.0K |
| Feb 10, 2026 | Cootey Stephen Lawrence EVP & Chief Financial Officer | Tax withheld | 1,271 | $84.2K |
| Feb 10, 2026 | KREEGER SCOTT President | Tax withheld | 3,784 | $250.7K |
| Feb 10, 2026 | Nichols Kord EVP & Chief Operating Officer | Tax withheld | 1,303 | $86.3K |
| Nov 4, 2025 | KREEGER SCOTT President | Tax withheld | 1,008 | $54.3K |
| Sep 12, 2025 | FERTITTA FRANK J III Chief Executive Officer | Other | 200,000 | $12.26M |
| Sep 12, 2025 | FERTITTA LORENZO J Vice President | Other | 200,000 | $12.26M |
| Aug 22, 2025 | Nichols Kord EVP & Chief Operating Officer | Sale | 37,075 | $2.26M |
| Aug 13, 2025 | Nichols Kord EVP & Chief Operating Officer | Sale | 5,250 | $320.3K |
| Aug 12, 2025 | Nichols Kord EVP & Chief Operating Officer | Sale | 42,325 | $2.48M |
| Aug 11, 2025 | Nichols Kord EVP & Chief Operating Officer | Tax withheld | 121,705 | $6.89M |
| Aug 11, 2025 | Nichols Kord EVP & Chief Operating Officer | Option exercise | 206,355 | $11.68M |
| Aug 1, 2025 | Welch Jeffrey T EVP and Chief Legal Officer | Sale | 56,653 | $3.41M |
| Aug 1, 2025 | Cootey Stephen Lawrence EVP & Chief Financial Officer | Sale | 121,400 | $7.29M |
| Jul 31, 2025 | Cootey Stephen Lawrence EVP & Chief Financial Officer | Option exercise | 332,369 | $8.01M |
| Jul 31, 2025 | Welch Jeffrey T EVP and Chief Legal Officer | Option exercise | 310,210 | $7.48M |
| Jul 31, 2025 | Welch Jeffrey T EVP and Chief Legal Officer | Tax withheld | 196,904 | $11.94M |
| Jul 31, 2025 | Cootey Stephen Lawrence EVP & Chief Financial Officer | Tax withheld | 210,969 | $12.79M |
| Mar 18, 2025 | Welch Jeffrey T EVP and Chief Legal Officer | Tax withheld | 4,690 | $211.6K |
| Mar 18, 2025 | Nichols Kord EVP & Chief Operating Officer | Tax withheld | 4,065 | $183.4K |
| Mar 18, 2025 | Cootey Stephen Lawrence EVP & Chief Financial Officer | Tax withheld | 4,149 | $187.2K |
| Mar 3, 2025 | KREEGER SCOTT President | Tax withheld | 8,920 | $443.3K |
| Feb 26, 2025 | Welch Jeffrey T EVP and Chief Legal Officer | Tax withheld | 119,041 | $6.03M |
| Feb 26, 2025 | Welch Jeffrey T EVP and Chief Legal Officer | Option exercise | 159,174 | $4.71M |
| Feb 18, 2025 | Cootey Stephen Lawrence EVP & Chief Financial Officer | Tax withheld | 2,424 | $127.9K |
| Feb 18, 2025 | Nichols Kord EVP & Chief Operating Officer | Tax withheld | 2,438 | $128.6K |
| Feb 18, 2025 | Welch Jeffrey T EVP and Chief Legal Officer | Tax withheld | 2,998 | $158.2K |
| Feb 13, 2025 | NAVE JAMES E D V M Director | Award | 3,838 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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