Red Rock Resorts reported the highest first-quarter net revenue ever from its Las Vegas operations on Wednesday during the company’s first-quarter earnings call.
The record net revenue from Las Vegas operations was $499.5 million for the quarter that ended March 31, an increase of 0.9 percent from the same period of 2025, despite construction impacts from ongoing renovation projects at the company’s Durango, Green Valley Ranch and Sunset Station properties.
“In addition to delivering strong first-quarter results, we remain very pleased with Durango’s performance,” Chief Financial Officer Stephen Cootey told investors in prepared remarks during the call. “Durango continues to expand the Las Vegas locals market and drive incremental play from our existing customers.
“Since completing our ($120 million) December expansion, adding more than 25,000 square feet of casino space, a premier high limit slot area and nearly 2,000 additional covered parking spaces, we’ve continued to see strong financial performance alongside positive guest feedback.”
Durango is now investing $385 million in its second expansion since opening in December 2023. The project will add more than 275,000 square feet on the north side of the property, 400 additional slot machines, a 36-lane bowling facility, luxury movie theaters, and new dining and entertainment venues, including the Moonshine Flats country-western bar. The project is scheduled to open in the summer of 2027.
Cootey said the first-quarter gaming revenue and profitability were the highest in company history, bolstered by high limit areas at its properties that are part of a “proven strategy consistently generating strong returns across our portfolio.”
He said the company is making strong progress at Sunset Station on its $53 million renovation, a property-wide refresh, that includes the debut of Stoney’s Rockin’ Country bar, a new Mexican restaurant, new center bar and fully-renovated casino floor. He expects the project to come online throughout 2026, including the Gaudi Bar, which is expected to reopen in the coming weeks.
The company also is advancing on the next $87 million expansion phase at Sunset Station that will continue with the comprehensive casino refresh, including the expansion and enhancement of the movie theater and relocation of the temporary bingo area to a new permanent location. The former buffet space will be converted to the Highland Steakhouse and high limit table games room. Work on this phase is expected to begin this quarter and extend into 2027.
Green Valley Ranch recently completed its West Tower renovation as part of a $200 million property-wide transformation. Work is underway on a $56 million project that is the latest phase of the renovation that will extend into 2027 and will include a fully refreshed casino floor, upgraded entertainment and food and beverage offerings, and renovations to the East Tower.
Red Rock Resorts posted net revenues for its consolidated operations of $507.3 million for the first quarter, an increase of 1.9 percent, from $497.9 million in the same period of 2025. The net revenue was a record for the 10th consecutive quarter. Net income was $82.7 million, a decrease of 3.8 percent, from $86.0 million in the first quarter last year.
Red Rock shares, traded on the Nasdaq exchange, closed at $56.16, a daily increase of 1.13 percent.
Contact reporter Todd Dewey at tdewey@reviewjournal.com. Follow @tdewey33 on X.
