<p>Red Rock Resorts reported year-over-year gains in net revenue, income, and adjusted earnings during a first-quarter conference call Thursday</p>
<p>Net revenue was $497.9 million for the first quarter of 2025, an increase of 1.8% or $9 million, from $488.9 million in the same period of 2024. Net income was $86 million for the first quarter of 2025, an increase of 9.7% or $7.6 million from $78.4 million in the same period of 2024. Adjusted EBITDA was $215.1 million for the first quarter of 2025, an increase of 2.8% or $5.9 million from $209.1 million in the same period of 2024. Margins were 43%.</p>
<p>In Las Vegas, net revenue was $495 million for the first quarter of 2025, an increase of 1.9% or $9.4 million from $485.6 million in the same period of 2024. Adjusted EBITDA from Las Vegas operations was $235.9 million for the first quarter of 2025, an increase of 2.7% or $6.1 million from $229.8 million in the same period of 2024.</p>
<p>The company’s cash and cash equivalents at March 31 were $150.6 million and total principal amount of debt outstanding at the end of the first quarter was $3.4 billion.</p>
<p>The company’s Board of Directors has declared a cash dividend of $0.25 per Class A common share for the second quarter of 2025. The dividend will be payable on June 30 to all stockholders of record as of the close of business on June 16.</p>
<p>Prior to the payment of the dividend, Station Holdco LLC will make a cash distribution to all unit holders of record of $0.25 per unit for a total distribution of approximately $27.6 million, approximately $16.1 million of which is expected to be distributed to the company and approximately $11.5 million of which is expected to be distributed to the other unit holders of record of Station Holdco.</p>
<p>The company’s Board of Directors has declared a special dividend of $1 per Class A common share. The dividend will be payable on May 21 to all stockholders of record as of the close of business on May 14.</p>
<p>Prior to the payment of that dividend, Station Holdco will make a cash distribution to all unit holders of record of $1 per unit for a total distribution of approximately $110.4 million, approximately $64.4 million of which is expected to be distributed to the company and approximately $46 million of which is expected to be distributed to the other unit holders of record of Station Holdco.</p>
Red Rock reports year-over-year gains across the board
