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Red Rock Resorts(RRR) - 2020 Q4 - Annual Report
2021-02-23 19:30
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-37754 ______________________________________________________________ RED ROCK RESORTS, INC. (Exact name of regist ...
Red Rock Resorts(RRR) - 2020 Q4 - Earnings Call Transcript
2021-02-10 02:19
Red Rock Resorts, Inc. (NASDAQ:RRR) Q4 2020 Earnings Conference Call February 9, 2021 4:30 PM ET Company Participants Stephen Cootey - Executive Vice President, Chief Financial Officer & Treasurer Frank Fertitta - Chairman & Chief Executive Officer Lorenzo Fertitta - Vice Chairman of the Board Conference Call Participants Joe Greff - JPMorgan Carlo Santarelli - Deutsche Bank Barry Jonas - Truist Securities Steven Grambling - Goldman Sachs Steve Wieczynski - Stifel Shaun Kelley - Bank of America Chad Beynon ...
Red Rock Resorts(RRR) - 2020 Q3 - Quarterly Report
2020-11-06 20:08
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-37754 RED ROCK RESORTS, INC. (Exact name of registrant as specified in its charter) (State or other jurisd ...
Red Rock Resorts(RRR) - 2020 Q3 - Earnings Call Transcript
2020-10-28 00:48
Red Rock Resorts, Inc. (NASDAQ:RRR) Q3 2020 Earnings Conference Call October 27, 2020 4:30 PM ET Company Participants Stephen Cootey - Executive Vice President, Chief Financial Officer & Treasurer Frank Fertitta - Chairman & Chief Executive Officer Lorenzo Fertitta - Independent Director Bob Finch - Executive Vice President & Chief Operating Officer Rod Atamian - Executive Vice President, Development & Strategy Conference Call Participants Joe Greff - JP Morgan Carlo Santarelli - Deutsche Bank Steven Wieczy ...
Red Rock Resorts(RRR) - 2020 Q2 - Quarterly Report
2020-08-07 21:04
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-37754 RED ROCK RESORTS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdictio ...
Red Rock Resorts(RRR) - 2020 Q2 - Earnings Call Transcript
2020-08-05 01:40
Financial Data and Key Metrics Changes - The company reported consolidated net revenue of $108.5 million, down from $482.9 million in the prior quarter, and adjusted EBITDA of negative $17.3 million, down from $115.2 million in the prior quarter [18][19] - EBITDA margin decreased to negative 15.9% for the quarter [18] - Las Vegas operations reported net revenues of $101 million, down from $457.8 million in the prior quarter, with adjusted EBITDA of negative $12.1 million, down from $106 million in the prior quarter [19] Business Line Data and Key Metrics Changes - The company opened 16 of its 20 properties on June 4, generating over 80% of Las Vegas net revenue and over 90% of Las Vegas EBITDA during the same period [17] - The Graton Casino Resort reported management fee revenue for the second quarter of $5.9 million, a decrease of 75% over the prior year [29] Market Data and Key Metrics Changes - The company noted that short-haul traffic into Las Vegas is down, but not as significantly as long-haul and group business, which are down much more [48] - The company has seen a significant increase in younger demographics visiting its properties, while older demographics have declined due to COVID-19 concerns [77] Company Strategy and Development Direction - The company has implemented comprehensive health and cleanliness guidelines for its properties to ensure safety [9] - Significant cost reductions of approximately $150 million on an annualized run rate basis have been targeted, with an additional estimated $200 million in labor expense savings from closed properties [13][14] - The company is focused on maintaining a leaner and more efficient operation moving forward [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the uncertain economic environment and highlighted the resilience of its local business model [23] - The company is cautiously optimistic about its financial performance in July, but acknowledges the ongoing uncertainty due to the pandemic [25] - Management emphasized the importance of adapting to changing consumer behavior and focusing on convenience and value [55] Other Important Information - The company has $274.5 million in cash and cash equivalents and $3.3 billion in total principal debt outstanding [26] - The company has over $1 billion in liquidity, allowing it to operate fully staffed for over 20 months in a zero-revenue environment [27] Q&A Session Summary Question: What was the EBITDA drag from closed properties in June? - The closed properties had a drag of about $1.4 million in June, which is expected to remain consistent in July [36] Question: What trends are seen in the locals market in July? - Trends in July have been consistent with June, showing less visitation but more spend per visit and a younger demographic [38] Question: Is there a market for assets to scale up prices? - It is too early to assess the current economic environment and the future of closed properties like Palms is undecided [40][42] Question: How is the short-haul traffic from California looking? - Short-haul traffic is down, but not as significantly as long-haul and group business, which are down much more [48] Question: What is the promo environment like? - The situation is unique as all operators face similar challenges, leading to a focus on what truly matters in the business [53] Question: Can you elaborate on the $150 million in potential savings? - Significant reductions have been made at the corporate level, and some amenities may not return, allowing for cost savings without impacting customer experience [70][71] Question: Are younger customers driving performance? - There has been a significant increase in younger demographics, and the company is focused on converting uncarded younger play into carded play [83]
Red Rock Resorts(RRR) - 2020 Q1 - Earnings Call Transcript
2020-05-20 01:03
Red Rock Resorts, Inc. (NASDAQ:RRR) Q1 2020 Earnings Conference Call May 19, 2020 4:30 PM ET Company Participants Stephen Cootey - EVP, CFO and Treasurer Frank Fertitta - Chairman and CEO Jeff Welch - EVP and Chief Legal Officer Conference Call Participants Joe Greff - JPMorgan Carlo Santarelli - Deutsche Bank Barry Jonas - SunTrust Robinson Humphrey Harry Curtis - Instinet Jared Shojaian - Wolfe Research Chad Beynon - Macquarie Shaun Kelley - Bank of America Merrill Lynch Stephen Grambling - Goldman Sachs ...
Red Rock Resorts(RRR) - 2020 Q1 - Quarterly Report
2020-05-19 22:11
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-37754 RED ROCK RESORTS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction ...
Red Rock Resorts(RRR) - 2019 Q4 - Annual Report
2020-02-21 21:32
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-37754 ______________________________________________________________ RED ROCK RESORTS, INC. (Exact name of registrant as specified in its charter) Delaware 47-5081182 (State or other jurisdiction of incorporation or organization) (I.R.S. Employ ...
Red Rock Resorts(RRR) - 2019 Q4 - Earnings Call Transcript
2020-02-05 03:17
Start Time: 16:30 January 1, 0000 5:05 PM ET Red Rock Resorts, Inc. (NASDAQ:RRR) Q4 2019 Earnings Conference Call February 04, 2020, 16:30 PM ET Company Participants Frank Fertitta - Chairman and CEO Stephen Cootey - EVP, CFO and Treasurer Conference Call Participants Carlo Santarelli - Deutsche Bank Joseph Greff - JPMorgan Barry Jonas - SunTrust Robinson Humphrey Stephen Grambling - Goldman Sachs Shaun Kelley - Bank of America Merrill Lynch Harry Curtis - Instinet Jared Shojaian - Wolfe Research John DeCre ...