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Mar 31, 2021
Red Rock Resorts Q1 2021 Earnings Report
Red Rock Resorts reported first quarter results with net revenues of $352.6 million and Adjusted EBITDA of $156.6 million.
Key Takeaways
Red Rock Resorts' first quarter results showed a decrease in net revenues compared to both 2020 and 2019, primarily due to the ongoing impacts of the COVID-19 pandemic. However, the company's Adjusted EBITDA increased significantly compared to 2020 and slightly compared to 2019. The company also announced an agreement to sell the Palms Casino Resort for $650 million.
Net revenues decreased by 6.6% compared to Q1 2020, totaling $352.6 million.
Net loss improved by $71.2 million from Q1 2020, but remained a loss of $106.6 million.
Adjusted EBITDA increased by 110.8% compared to Q1 2020, reaching $156.6 million.
A definitive agreement was announced to sell the Palms Casino Resort for $650 million in cash.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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