Red Rock Resorts reports 17 increase in Q3 revenue
Red Rock Resorts has reported $414
Red John Rock Resorts has reported $414.8m inwards meshwork revenues for the thirdly quarter of 2021, a 17% step-up over the same period inward 2020, but continues to live unnatural by pandemic-related closures.
While many of the operator’s principal sum properties are now open, including its flagship Red Rock Resort inwards Las Vegas, as comfortably as its Green Valley Ranch, Santa Fe Station, Boulder Station, Palace Station and Sunset Station operations, the company’s Palms Casino Resort, Lone-Star State Station, Fiesta Rancho and Fiesta Henderson sites all remained unsympathetic during the quarter.
Nevertheless, Red Rock’s up-and-running properties supported a mild comeback from Covid, with its Las Vegas business sector segment leading the way. Net revenues from Red Rock’s trading operations inward the US play hub totalled $412.7m for the quarter, up past $91.9m from $320.8m in 2020.
In addition, Adjusted Earnings Before Interest Taxes Depreciation and Amortization for the unit company amounted to $184.5m, upwards past 15% from the same clip last year, patch the Adjusted Earnings Before Interest Taxes Depreciation and Amortization for its Vegas trading operations experienced a 40% increase from $141.7m to $197.9m.
However, it’s mesh revenues are relieve down pat(p) from pre-pandemic levels, remaining 11% take down than the $465.9m figure Red River John Rock posted for Q3 2019. Moreover, the operator’s salient debt at the end of the billet sits at $2.68bn, a sizeable sum, though let down than the o'er $3bn striking at the remnant of Q3 2019.
Red John Rock has also taken measures to computer address its financial situation, with the company’s Board of Directors authorising an increment in its divvy up repurchase program from $150m to $300m, expanding Red River Rock’s repurchase content to over $173m.
Despite this, the operator’s carrying into action continues to improve, with a net revenue for the ix months of 2021 upward to 30 Sep of nearly $1.2bn.