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Edge17 Apr 2026
The New York Times Company: Adapting to the Times
How The New York Times Company built on a century-long legacy of trusted journalism to navigate disruption and reshape its business model.
Red Rock Resorts
Red Rock Resorts (RRR) investor relations material
Red Rock Resorts Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary10 Feb, 2026
Executive summary
Achieved ninth consecutive record quarter and fifth consecutive year of record adjusted EBITDA, with Las Vegas operations leading performance and all-time highs in net revenue and adjusted EBITDA.
Net revenues for Q4 2025 rose 3.2% year-over-year to $511.8 million, while full-year 2025 net revenues increased 3.7% to $2.01 billion.
Q4 2025 net income declined 3.5% year-over-year to $84.6 million, but full-year net income grew 22.1% to $355.7 million.
Durango Casino Resort continues to expand the locals market, with recent expansions and overwhelmingly positive customer response, reinforcing its role as a growth driver.
Maintains a durable business model with high free cash flow conversion and a proven track record of returning capital to shareholders.
Financial highlights
Q4 2025 net revenues reached $511.8M, up from $492.6M in Q4 2024; full-year 2025 net revenues were $2.01B, up from $1.94B in 2024.
Q4 Las Vegas net revenue: $505M, up 2.5% year-over-year; Adjusted EBITDA: $231.1M, up 3.2%; margin: 45.8%.
Consolidated Q4 adjusted EBITDA: $213.3M, up 5.4%; margin: 41.7%; full-year adjusted EBITDA: $848.6M, up 6.6%; margin: 42.2%.
Full-year Las Vegas adjusted EBITDA: $915.9M, up 4.2%; margin: 46.2%.
Net income for 2025 was $355.7M, up from $291.3M in 2024.
Outlook and guidance
Expect near-term disruption from ongoing construction at Durango, Sunset Station, and Green Valley Ranch, but remain confident in long-term growth.
2026 capital spend projected at $375–$425M, with $275–$300M in investment capital and $100–$125M in maintenance capital.
Q1 2026 disruption at Green Valley Ranch estimated at $9M, with $4.5–$5M expected in Q2; disruption at Durango and Sunset Station not yet quantified.
Guidance for 2026 includes continued reinvestment in existing properties and ongoing expansion at Durango and other development sites.
Regular quarterly dividend of $0.26 per share and special dividend of $1.00 per share declared for early 2026.
Future outlook for Native American development fees
Rationale for the special dividend declaration
Breakdown of Corporate and other Adjusted EBITDA
Quantify 2026 disruption beyond GVR Q1/Q2
Update on new greenfield project timelines?
How is the 90% deduction impacting high-end play?
Partial view of Summaries dataset, powered by Quartr API
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Latest events from Red Rock Resorts
- Q2 2024 revenue up 16.9% to $486.4M, with strong Durango and Las Vegas growth.RRR
Q2 20243 Feb 2026 - Q3 2024 revenue up 13.7% to $468M, with Durango driving growth and net income declining.RRRQ3 202415 Jan 2026
- Record revenue growth, lower net income, and a $0.25 dividend declared for Q1 2025.RRRQ4 202427 Dec 2025
- Q1 2025 saw record revenue, higher profits, and a $1.25 per share dividend amid economic headwinds.RRRQ1 202523 Dec 2025
- Stockholders will vote on directors, executive pay, and auditor ratification, with strong governance and oversight.RRRProxy Filing1 Dec 2025
- Virtual meeting to elect directors, approve pay, and ratify auditor, with board support.RRRProxy Filing1 Dec 2025
- Q2 2025 net revenues up 8.2%, net income surged, and Las Vegas operations led growth.RRRQ2 202516 Nov 2025
- Q3 2025 saw record results, strong cash flow, and expanded shareholder returns.RRRQ3 20256 Nov 2025
- Sustained growth, high-margin operations, and strategic expansion fuel strong capital returns.RRRInvestor Presentation29 Jul 2025
Next Red Rock Resorts earnings date
Q1 202629 Apr, 2026
Red Rock Resorts
Next Red Rock Resorts earnings date
Q1 202629 Apr, 2026
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