Market Overview - The S&P 500 and other major indices experienced a mixed trading day, with the S&P 500 and Dow finishing up about 0.1% each, while the Nasdaq composite also rose by 0.1%, but the Nasdaq 100 closed down by 0.1% [6][7] - Overall, the market showed indecisiveness, fluctuating between gains and losses throughout the day, indicating a "wait and see" approach among investors [5][6] Sector Performance - Real estate was the biggest gainer among sectors, increasing by 1%, while financials also performed well, and tech rose by approximately 0.5% [9] - Consumer staples were the largest losers, declining by 1.5%, followed closely by energy, which fell by 1.4% [10] Earnings Reports - Caesars Entertainment reported a fourth-quarter loss of $1.23 per share, with net revenue of $2.92 billion, slightly above the street estimate of $2.89 billion [11] - Norwegian Cruise Line was the top gainer in the S&P 500, rising by about 12% after Elliott Investment Management acquired a more than 10% stake and urged changes to unlock significant shareholder value [13] - Masimo saw a 34% increase in its stock price after Danaher announced its acquisition for $80 per share, representing a 40% premium over the previous close, with a total enterprise value of approximately $9.9 billion [14] - TripAdvisor's stock rose by about 9% following a letter from Starboard Value highlighting underperformance and plans to nominate a majority slate of directors [14] - Genuine Parts Company, the owner of Napa Auto Parts, fell by over 14.5% after reporting fourth-quarter earnings that missed expectations and announcing plans to split into two public companies [18] - General Mills' stock dropped by 7% after the company lowered its fiscal 2026 outlook due to a challenging consumer environment [24] Guidance and Future Outlook - Cadence Design reported adjusted EPS of $0.99, beating expectations, and provided full-year revenue guidance of $5.9 billion to $6 billion, aligning with street estimates [16] - Palo Alto Networks projected full-year adjusted EPS between $3.65 and $3.70, below the estimate of $3.87, with revenue guidance of $1.28 billion to $1.31 billion [21]

Economic Overview - The jobs data for January showed an addition of 130,000 jobs, with the unemployment rate decreasing to 4.3%, both better than expected. However, previous months' job gains were revised down significantly, with 2025's total job additions revised from 584,000 to 181,000, indicating a weaker job market than previously thought [3][4][5]. - Inflation data revealed a Consumer Price Index (CPI) of 2.4% for the headline number and 2.5% for core CPI, which remains above the Federal Reserve's 2% target, suggesting ongoing inflationary pressures despite a cooler-than-expected report [7][8]. Company Earnings and Stock Performance - Caterpillar (CAT) reported modest earnings growth, with a 3% increase, but has seen a significant rise of 21% since the earnings announcement, driven by capital expenditures from major tech companies [10][12]. - Alphabet is selling debt, including a 100-year bond, to finance its AI expansions, indicating a long-term commitment to AI despite current profitability concerns [13]. - Cisco (CSCO) experienced a 12% drop in stock price post-earnings, despite exceeding earnings guidance, due to margin and cost concerns, although it remains up 19% year-over-year [14]. - Applied Materials (AMAT) saw a 10% increase in stock price following strong earnings and guidance, benefiting from increased spending in the AI sector [15]. Market Trends and Future Outlook - The economic landscape is characterized by uncertainty, with AI investments becoming a significant part of capital expenditures, raising questions about the overall economic stability [9]. - Walmart (WMT) is positioned well in the current market, recently reaching a market cap of over $1 trillion, and is expected to provide insights into consumer spending and technological integration in its upcoming earnings report [28][30].

Financial Data and Key Metrics Changes - In Q4 2025, Las Vegas operations achieved net revenue of $505 million, a 2.5% increase year-over-year, and adjusted EBITDA of $231 million, up 3.2% from the previous year [8][9] - For the full year 2025, net revenue was just under $2 billion, a 2.9% increase, and adjusted EBITDA reached $915.9 million, up 4.2% from the prior year [9][10] - The consolidated Q4 net revenue was $511.8 million, up 3.2%, and adjusted EBITDA was $213 million, up 5.4% year-over-year [8][9] Business Line Data and Key Metrics Changes - Durango Casino Resort continues to expand its local market presence, contributing to incremental play and reinforcing its growth driver status within the portfolio [5] - Non-gaming operations, including hotel and food and beverage, achieved near-record revenue and profitability, with hotel operations performing exceptionally well despite renovations [11][12] Market Data and Key Metrics Changes - The Las Vegas locals market remains strong, with 50% of guests visiting more than eight times a month, indicating a robust customer base [31] - The company is strategically located in areas of new housing growth, enhancing its competitive position in the locals market [32] Company Strategy and Development Direction - The company is focused on executing its development pipeline, including significant investments in Durango, Sunset Station, and Green Valley Ranch, to enhance competitive positioning and customer appeal [15][17][23] - A special cash dividend of $1 per Class A common share was declared, reflecting confidence in the long-term earnings power of the operating model [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength and resilience of the business, despite expected near-term disruptions from ongoing construction projects [12][23] - The company anticipates capturing additional market share and driving sustained growth in the local market through strategic expansions and enhancements [8][19] Other Important Information - The company reported a net debt-to-EBITDA ratio of 3.87 times, marking the seventh consecutive quarter of deleveraging [13] - Total capital spend for 2025 was $319 million, with expectations to increase to $375-$425 million in 2026 [14] Q&A Session Summary Question: Demand levels in Las Vegas Valley - Management noted strong performance in hotel operations and gaming, with a differentiated value proposition compared to the Strip [28][31] Question: Construction disruption in 2026 - Management estimated approximately $9 million in disruption for Q1 2026, primarily from ongoing renovations [42][44] Question: Seasonal EBITDA expectations - Management indicated that while disruption may impact Q1, they remain confident in achieving expected returns [48][49] Question: Impact of the One Big Beautiful Bill - Management expressed optimism about capturing discretionary income from tax refunds, positioning the company well in the locals market [53] Question: Higher-end customer contributions - Management highlighted strength in higher-end play across various properties, indicating a broad appeal to different customer segments [80][81]

I N V E S T O R P R E S E N T A T I O N PRIVATE & CONFIDENTIAL DISCLAIMER This presentation contains forward-looking statements, that reflect current views of Red Rock Resorts, Inc. (the "Company") with respect to, among other things, our operations and financial performance, all of which are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, market trends, or industry results to differ materially from those expressed or implie ...

Sports books are in the business of kind of making money from the gamblers. And so if you're too good, you know, if you're a sharp, you could find that your account size could be limited and that they're not really letting you put down a lot of money. Risk prediction markets don't have these restrictions, so a lot of sharks have moved to prediction markets.Who are these people. Are they gambling enthusiasts or are they sports enthusiasts. They're coming from all sides.So you get you have do have financial t ...

Total wagers placed in Nevada for the Feb. 8 Super Bowl fell 11.7% to $133.8 million from the prior year, according to data released Monday by the state’s Gaming Control Board https://t.co/ij0YWVgyjN ...

The Super Bowl is supposed to be the highlight of the calendar for gambling companies. This year, though, a cloud has descended over the industry as the big game approached. https://t.co/l4TmdayMIu ...

Industry Overview - The Super Bowl, typically a peak event for gambling companies, is facing challenges this year, with Flutter Entertainment's stock experiencing an eight-week decline, the longest in 23 years, and DraftKings trading at its lowest levels since 2023, down over 60% from its all-time high five years ago [1][2] Market Dynamics - The matchup between Seattle and New England lacks the celebrity appeal of previous years, contributing to a decline in traditional sports betting [2] - The rise of prediction markets, such as Kalshi, is a significant concern for the industry, as they provide an alternative betting method that circumvents state-level gambling regulations [2][5] Trading Volume Insights - Jordan Bender, a senior equity analyst, anticipates record trading volumes on prediction markets during the Super Bowl weekend, while legal wagering on traditional sportsbooks is expected to decrease by 2% compared to last year [3] - The decline in Super Bowl handle is attributed to the competition from prediction markets, which are gaining traction [3] Historical Context - The gambling industry had been experiencing growth since the Supreme Court's 2018 decision allowing states to legalize sports betting, with Super Bowl wagers increasing for eight consecutive years [4] Emergence of Prediction Markets - Kalshi, a leading US prediction market startup, initially focused on niche financial contracts but shifted to sports betting after the Commodity Futures Trading Commission (CFTC) did not intervene when they began offering Super Bowl wagers in early 2025 [5][6] - Sports betting now constitutes over 90% of Kalshi's trading volume, indicating a significant shift in the market landscape [6]

RT rektdiomedes (@rektdiomedes)@blknoiz06 Suppose such a scenario would mean all 'leisure' industries 10x...So bad stuff like p0rn and gambling...Neutral stuff like social media, or watching sports...Good stuff like hiking, art, playing sports, etc.. ...

Chicago's last race track — never really a glamorous venue to start with — needs financing so badly that it can't cover checks for prize-winning horse owners https://t.co/NdiROnVYN2 ...