 Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! Related Links
Related News
|
Gaming News
Red Rock releases Q1 financial results4 May 2023(PRESS RELEASE) -- Red Rock Resorts, Inc. today reported financial results for the first quarter ended 31 March 2023. First Quarter Results: Consolidated Operations: Net revenues were $433.6 million for the first quarter of 2023, an increase of 8.0%, or $32.0 million, from $401.6 million in the same period of 2022. Net income was $85.5 million for the first quarter of 2023, a decrease of 7.3%, or $6.7 million, from $92.2 million in the same period of 2022. Adjusted EBITDA was $194.2 million for the first quarter of 2023, an increase of 8.6%, or $15.4 million, from $178.7 million in the same period of 2022. Las Vegas Operations: Net revenues from Las Vegas operations were $430.0 million for the first quarter of 2023, an increase of 7.6%, or $30.3 million, from $399.7 million in the same period of 2022. Adjusted EBITDA from Las Vegas operations was $214.1 million for the first quarter of 2023, an increase of 8.0%, or $15.9 million, from $198.2 million in the same period of 2022. Balance Sheet Highlights: The Company's cash and cash equivalents at 31 March 2023 were $107.7 million and total principal amount of debt outstanding at the end of the first quarter was $3.1 billion. Quarterly Dividend: The Company's Board of Directors has declared a cash dividend of $0.25 per Class A common share for the second quarter of 2023. The dividend will be payable on June 30, 2023 to all stockholders of record as of the close of business on 15 June 2023. Prior to the payment of such dividend, Station Holdco LLC ("Station Holdco") will make a cash distribution to all unit holders of record, including the Company, of $0.25 per unit for a total distribution of approximately $27.1 million, approximately $15.6 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.
Red Rock releases Q1 financial results
is republished from Online.CasinoCity.com.
|