Red Rock reports Q3 loss after $79M charge

Red Rock Resorts’ third-quarter 2026 revenue rose 2.8% year over year to $488.7 million, beating analyst expectations, while Las Vegas operations posted record revenue of $479.1 million. The company reported a $17.7 million net loss, compared with $76.9 million in profit a year earlier, after $79.1 million in share-based compensation for 50th-anniversary awards and $6.9 million in other anniversary-related costs; adjusted EBITDA fell 4.3% to $182.6 million. Casino revenue rose 1.4%, with slot handle, table-game drop and sports wagering volume higher, though renovations pressured some operating trends. Red Rock affirmed its quarterly dividend of 26 cents per Class A share and is advancing the Durango North expansion and North Fork opening; it ended the quarter with $128.3 million in cash and $3.7 billion in debt, while shares fell in after-hours trading. JPMorgan maintained its Overweight rating but cut its price target to $64 from $71, citing risks to earnings from higher costs and capital spending.