Red Rock Posts Record Q3 Revenue, Net Loss
Red Rock Resorts reported record third-quarter Las Vegas revenue while a stock-compensation charge drove a quarterly net loss.
Updated on Nov. 4, 2026 in Casino
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Red Rock Resorts reported $488.7 million in third-quarter net revenue, up 2.8 percent from a year earlier, along with a $17.7 million net loss. The company said its Las Vegas operations posted the highest third-quarter net revenue in its history.
Why it matters
The swing from $76.9 million in net income a year earlier to a loss reflects a large one-time accounting charge rather than weaker operations. The results also show the company's continued investment in its Las Vegas-area properties.
Las Vegas operations generated $479.1 million in net revenue, up 2.3 percent year over year, while the company recorded $79.1 million in share-based compensation expense tied to 50th anniversary stock awards. The company granted more than $72 million in Class A common stock to team members.
The players
Red Rock Resorts
Red Rock Resorts is a Las Vegas-based gaming company that operates casino properties across the Las Vegas area.
The details
Red Rock Resorts reported the results during its third-quarter earnings call. The Durango North expansion, which will add more than 275,000 square feet and 400 slot machines, has a revised project budget of $430 million, up from $385 million.
Timeline
Third quarter of 2025: prior-year net income of $76.9 million was reported.
Third quarter of 2026: current results reported and 50th anniversary stock awards issued.
Later this quarter (Q4 2026): Sunset Station restaurants and bingo room expected to open.
Second half of 2027: Durango North expansion anticipated to open.
Mid-2027: remaining Sunset Station amenities expected to be completed.
Market Landscape
Las Vegas casino operators have been investing in expansion to draw visitors from nearby neighborhoods and the wider region. Red Rock's Durango North project and Sunset Station upgrades reflect that strategy of competing for local gaming customers.
The Durango North expansion will add 400 slot machines, a bingo room and a keno lounge to the Durango property. Local gaming customers will see new dining and gaming options when those amenities open over the coming year.
The takeaway
The results show a company spending heavily on Las Vegas-area expansion while absorbing a large one-time compensation charge. Readers tracking the local casino market should watch the Durango North and Sunset Station openings in the coming year.
What happens next
The Sunset Station restaurants and bingo room are expected to open later this quarter, and the Durango North expansion is anticipated to open in the second half of 2027.
Further reading
For more on the Las Vegas gaming market, see Casino.
Source note: This article includes information reported by Las Vegas Review-Journal.
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