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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Red Rock Resorts
Red Rock Resorts (RRR) investor relations material
Red Rock Resorts Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary3 Nov, 2026
Executive summary
Las Vegas operations posted record Q3 net revenue of $479.1M and second-highest comparable-quarter Adjusted EBITDA; consolidated revenue rose 2.8% to $488.7M.
Consolidated Adjusted EBITDA fell 4.3% to $182.6M, while a $17.7M net loss primarily reflected $79.1M of anniversary stock-award expense and other one-time costs.
Financial highlights
Q3 Las Vegas revenue was $479.1M, up 2.3% YoY; Adjusted EBITDA was $204.6M, down 2.3%, with a 42.7% margin, down 199 bps.
Consolidated revenue was $488.7M, up 2.8%; Adjusted EBITDA was $182.6M, down 4.3%, including $5.1M from Native American operations and $5.8M of one-time anniversary expenses.
Operating free cash flow was $81.7M, or $0.77 per share, with 45% conversion; nine-month operating cash flow was $429.2M and capital expenditures were $456.1M.
Q3 operating income was $26.7M versus $131.5M a year earlier; net loss was $17.7M versus net income of $76.9M.
Outlook and guidance
FY2026 CapEx guidance was $550M-$570M, comprising $425M-$435M investment capital and $125M-$135M maintenance capital; increases reflect project scope, overruns and faster spending.
Q4 core slot, table and carded-business trends were stable; typical Q4 EBITDA seasonality is 10%-11% QoQ, with this quarter expected toward the higher end.
2027 is expected to be a heavier CapEx year; a full year of renovated Green Valley Ranch operations and H2 capacity from Durango North and Sunset Station projects are expected to contribute.
Durango North is expected to open in Q3 2027; management remained confident in a 20% ROI over time despite the higher project estimate.
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Latest events from Red Rock Resorts
- Q2 2026 revenue and profits declined, but capital returns and investments remained strong.RRR
Q2 2026 - All board-recommended proposals passed, including director elections and auditor ratification.RRRAGM 2026
- Q1 2026 net revenues rose 1.9% to $507.3M, with strong capital returns and ongoing expansions.RRRQ1 2026
- Annual meeting to vote on directors, executive pay, and auditor, with Fertitta family retaining control.RRRProxy filing
- Record Q4 2025 results, 22.1% net income growth, and special dividends announced.RRRQ4 2025
- Q3 2025 saw record revenue, 38.8% net income growth, and expanded shareholder returns.RRRQ3 2025
- Q3 2024 revenue up 13.7% to $468M, with EBITDA growth and a $0.25 dividend declared.RRRQ3 2024
- Q2 2024 revenue up 16.9% to $486.4M, with strong Durango growth and a $0.25 dividend declared.RRRQ2 2024
- Record revenue growth, lower net income, and a $0.25 dividend declared for Q1 2025.RRRQ4 2024
Next Red Rock Resorts earnings date
Q4 20265 Feb, 2027
Red Rock Resorts
Next Red Rock Resorts earnings date
Q4 20265 Feb, 2027
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Frequently asked questions
Red Rock Resorts Inc. is a holding company that manages and owns equity interests in gaming and entertainment properties through its subsidiary, Station Casinos. Its operations include casino gaming, hotel accommodations, dining, and other leisure offerings primarily in the Las Vegas area. The company is headquartered in Las Vegas, Nevada, and its shares are listed on the NASDAQ.