{"id":14656,"date":"2026-11-04T11:04:13","date_gmt":"2026-11-04T11:04:13","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=14656"},"modified":"2026-11-04T15:04:40","modified_gmt":"2026-11-04T15:04:40","slug":"red-rock-reports-record-q3-revenue-as-durango-expansion-costs-rise","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/red-rock-reports-record-q3-revenue-as-durango-expansion-costs-rise\/","title":{"rendered":"Red Rock Reports Record Q3 Revenue as Durango Costs Rise"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2026\/11\/red-rock-resorts.jpg\" alt=\"Red Rock Resorts\" width=\"300\" class=\"alignright size-full wp-image-14657\" title=\"Red Rock Reports Record Q3 Revenue as Durango Expansion Costs Rise\" \/><strong>Summary:<\/strong><\/p>\n<ul>\n<li>Red Rock reported consolidated third-quarter revenue of $488.7 million.<\/li>\n<li>The figure signaled a 2.8% year-over-year increase, alongside record third-quarter revenue.<\/li>\n<li>The Durango expansion budget increased from $385 million to $430 million, with an opening planned for the third quarter<\/li>\n<p> of 2027.<\/li>\n<\/ul>\n<p><strong>Red Rock Resorts reported its highest third-quarter revenue and second-highest profitability in company history<\/strong>, even as construction costs pushed the budget for its Durango expansion higher.<\/p>\n<p>The parent company of Station Casinos <strong>generated $479.1 million in net revenue during the third quarter<\/strong>, a 2.3% decrease compared with the same period last year. At the same time, adjusted EBITDA also dropped 2.3% to $204.6 million. <\/p>\n<p>Including $6.2 million in revenue from <a href=\"https:\/\/www.legitgambling.com\/us\/states\/california\">California<\/a>&#8216;s North Fork, consolidated net revenue reached $488.7 million, up 2.8% year over year.<\/p>\n<p><strong>Stephen Cootey<\/strong>, Red Rock&#8217;s executive vice president, CFO and treasurer said,<\/p>\n<blockquote><p>These results reflect the strength and resilience of our business we have built over the past five decades<\/p><\/blockquote>\n<p>The company also marked its 50th anniversary by granting more than 72 million shares of Class A common stock to employees, making all full-time and part-time team members company owners.<\/p>\n<p>The stock award is expected to generate approximately $79 million in compensation expenses, including non-cash stock-based compensation and related payroll taxes. The costs are allocated across the relevant departments, with approximately $26 million each for casino operations and food and beverage, $6 million for rooms, $1 million for other operations and $20 million for selling, general and administrative expenses.<\/p>\n<p>Cootey said the expenses will appear in GAAP operating results but will be excluded from adjusted EBITDA.<\/p>\n<p>Red Rock generated $81.7 million in operating free cash flow during the quarter, equivalent to 77 cents per share. That represented 45% of adjusted EBITDA. Year to date, free cash flow totaled $288.4 million, or $2.75 per share.<\/p>\n<h2>Durango Expansion Budget Increased<\/h2>\n<p><a href=\"https:\/\/www.casinousa.com\/news\/station-casinos-initiates-116m-phase-ii-durango-expansion\">Red Rock&#8217;s Durango resort<\/a> continued to deliver strong operating performance despite construction activity around the property. The resort has added more than 168,000 customers to its database, while the company reported increased spending per visit and higher net win from carded customers in the surrounding market.<\/p>\n<p>Construction is moving forward on the property&#8217;s northern expansion, which could usher in its first patrons sometime in the third quarter of next year. <\/p>\n<p>The property will bring in 275,000 square feet of space and feature close to 400 slot machines and other gaming facilities.<\/p>\n<p>However, the expansion&#8217;s estimated cost has increased from $385 million to $430 million. Cootey said the company remains confident in its projected economics and its target return on investment of 20% over time.<\/p>\n<p>Red Rock currently anticipates total capital expenditures of between $550 million and $570 million for the current year. <\/p>\n<p>Revised forecasts emphasize construction delays and cost overruns at Green Valley Ranch, as well as changes to the scope of the Durango project and a faster pace of development across the company&#8217;s properties.<\/p>\n<p>The Green Valley Ranch hotel and convention renovation, initially budgeted at $200 million, ended up costing close to $250 million.<\/p>\n<h2>North Fork Casino Opens in California<\/h2>\n<p>Another development milestone came on October 27 with the opening of <a href=\"https:\/\/northforkmonocasino.com\">North Fork Mono Casino<\/a> in California&#8217;s Central Valley. The approximately $700 million project was completed on budget and features more than 2,400 slot machines and 40 table games.<\/p>\n<p><strong>Red Rock is managing the property under a seven-year agreement<\/strong> and has begun receiving financial benefits from the project. The company received $26 million as the first installment of development fees owed to it.<\/p>\n<p>Cootey described the opening as an important milestone for both Red Rock and the North Fork Rancheria of Mono Indians.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: Red Rock reported consolidated third-quarter revenue of $488.7 million. The figure signaled a 2.8% year-over-year increase, alongside record third-quarter revenue. The Durango expansion budget increased from $385 million to $430 million, with an opening planned for the third quarter of 2027. Red Rock Resorts reported its highest third-quarter revenue and second-highest profitability in company [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,6],"tags":[],"class_list":["post-14656","post","type-post","status-publish","format-standard","hentry","category-casino","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Red Rock Reports Record Q3 Revenue as Durango Costs Rise<\/title>\n<meta name=\"description\" content=\"Red Rock Resorts reported record third-quarter revenue, raised its Durango expansion budget to $430 million and began receiving payments from the newly opened North Fork casino.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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