Red Rock Resorts(US:RRR)2026-02-10 21:01Financial Performance - Net revenues for Las Vegas operations reached $1.98 billion in 2025, an increase of 2.9% or $55.7 million from $1.93 billion in 2024[4] - Net income for the fourth quarter of 2025 was $84.6 million, a decrease of 3.5% or $3.1 million from $87.7 million in the same period of 2024[5] - Full year net income for 2025 was $355.7 million, an increase of 22.1% or $64.4 million from $291.3 million in 2024[6] - Total net revenues for the year ended December 31, 2025, reached $2.011 billion, compared to $1.939 billion in 2024, marking an increase of 3.7%[23] EBITDA Performance - Adjusted EBITDA for the fourth quarter of 2025 was $213.3 million, an increase of 5.4% or $10.9 million from $202.4 million in the same period of 2024[5] - Adjusted EBITDA for 2025 was $848.6 million, an increase of 6.6% or $52.7 million from $795.9 million in 2024[6] - Adjusted EBITDA from Las Vegas operations was $915.9 million in 2025, an increase of 4.2% or $36.5 million from $879.4 million in 2024[7] - The adjusted EBITDA for the year ended December 31, 2025, was $848.591 million, compared to $795.900 million in 2024, indicating an increase of 6.6%[23] Revenue Breakdown - Net revenues and Adjusted EBITDA from Native American activities were $17.6 million in 2025, representing revenue related to development fees[8] - Net revenues for Las Vegas operations increased to $504.991 million in Q4 2025, up from $492.638 million in Q4 2024, representing a growth of 2.8%[23] - Corporate and other segment reported a net revenue of $3.056 million in Q4 2025, consistent with $3.057 million in Q4 2024[23] - The Native American segment generated net revenues of $3.730 million in Q4 2025, with no revenues reported in Q4 2024[23] Expenses and Tax - Interest expense decreased to $49.648 million in Q4 2025 from $56.171 million in Q4 2024, a reduction of 11.4%[23] - Depreciation and amortization expenses increased to $52.110 million in Q4 2025 from $48.164 million in Q4 2024, an increase of 6.1%[23] - The company reported a provision for income tax of $11.296 million in Q4 2025, compared to $10.796 million in Q4 2024, an increase of 4.6%[23] Dividends - A quarterly dividend of $0.26 per Class A common share has been declared for Q1 2026, payable on March 31, 2026[10] - A special dividend of $1.00 per Class A common share has been declared, payable on February 27, 2026[12] Cash and Debt - The company's cash and cash equivalents at December 31, 2025, were $142.5 million, with total debt outstanding at $3.4 billion[9]