Red Rock Resorts, Inc.
- Open
- 56.93
- Day high
- 57.37
- Day low
- 56.46
- Prev close
- 56.84
- Volume
- 433K
- Mkt cap
- $3.3B
- P/E (TTM)
- 14.5
- EPS (TTM)
- $3.90
- P/B
- 19.5
- P/S
- 1.7
- Yield
- 3.59%
- Per share
- $2.03
- ▼Insiders net selling -$3.0M over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions mixed (13F)
Red Rock Resorts, Inc. (RRR) is a Consumer Cyclical company listed on NASDAQ. The stock is down 7% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4). Drillr has 1 published research article covering RRR.
Red Rock Resorts, Inc. (RRR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 10 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
RRR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 4, 2026 | $0.51 | $0.67 | +32.4% | $510M | +2.0% |
| Apr 29, 2026 | $0.54 | $0.73 | +35.2% | $507M | +0.3% |
| Jul 29, 2025 | $0.40 | $0.95 | +137.5% | $526M | +10.3% |
| May 1, 2025 | $0.55 | $0.80 | +45.5% | $498M | +0.4% |
| Feb 11, 2025 | $0.42 | $0.76 | +81.0% | $496M | +1.1% |
| Nov 7, 2024 | $0.37 | $0.48 | +29.7% | $468M | +1.4% |
| Jul 23, 2024 | $0.64 | $0.62 | -3.1% | $486M | +3.9% |
| Feb 7, 2024 | $0.52 | $0.95 | +82.7% | $463M | +5.2% |
| Aug 3, 2023 | $0.63 | $0.65 | +3.2% | $416M | -0.8% |
| May 4, 2023 | $0.47 | $0.75 | +59.6% | $434M | +5.3% |
| Feb 7, 2023 | $0.56 | $1.00 | +78.6% | $425M | +0.8% |
| Oct 27, 2022 | $0.49 | $0.84 | +71.4% | $414M | +1.9% |
RRR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Sep 2, 2026 | Welch Jeffrey Tofficer: EVP and Chief Legal Officer | Sell | 9,000 | $55.88 |
| Aug 13, 2026 | Nichols Kordofficer: EVP & Chief Operating Officer | Tax | 17,209 | $62.15 |
| Aug 13, 2026 | Nichols Kordofficer: EVP & Chief Operating Officer | Sell | 9,791 | $63.00 |
| Aug 13, 2026 | Nichols Kordofficer: EVP & Chief Operating Officer | Option | 27,000 | $24.98 |
| Aug 10, 2026 | KREEGER SCOTTofficer: President | Sell | 31,159 | $61.78 |
| Aug 10, 2026 | KREEGER SCOTTofficer: President | Option | 128,600 | $44.19 |
| Aug 10, 2026 | KREEGER SCOTTofficer: President | Option | 46,400 | $42.56 |
| Aug 10, 2026 | KREEGER SCOTTofficer: President | Tax | 143,841 | $61.95 |
| Jun 15, 2026 | FERTITTA FRANK J IIIdirector, 10 percent owner, officer: Chief Executive Officer | Grant | 301,205 | $62.32 |
| Jun 15, 2026 | FERTITTA FRANK J IIIdirector, 10 percent owner, officer: Chief Executive Officer | Grant | 148,427 | — |
| Jun 15, 2026 | Cootey Stephen Lawrenceofficer: EVP & Chief Financial Officer | Grant | 78,150 | $62.32 |
| Jun 15, 2026 | Cootey Stephen Lawrenceofficer: EVP & Chief Financial Officer | Grant | 38,511 | — |
| Jun 15, 2026 | FERTITTA LORENZO Jdirector, 10 percent owner, officer: Vice President | Grant | 301,205 | $62.32 |
| Jun 15, 2026 | FERTITTA LORENZO Jdirector, 10 percent owner, officer: Vice President | Grant | 148,427 | — |
| Jun 15, 2026 | KREEGER SCOTTofficer: President | Grant | 91,583 | $62.32 |
Source: RRR SEC Form 4 filings, latest Sep 2, 2026. For informational purposes only — not investment advice.
See the full RRR insider & 13F page →Red Rock Resorts, Inc. company profile
Overview
Red Rock Resorts, Inc. (NASDAQ:RRR) is a Las Vegas-based casino and entertainment company that was incorporated in 1976 and went public in April 2016 following a name change from Station Casinos Corp. The company has established itself as a dominant player in the Las Vegas locals gaming market, operating primarily through two business segments: Las Vegas Operations and Native American Management. Red Rock Resorts focuses on serving the local Las Vegas community rather than tourists, differentiating itself from the major Strip operators by targeting residents in suburban markets across the Las Vegas Valley.
Business
Red Rock Resorts operates in the casino gaming and entertainment industry, which encompasses gambling facilities, hotels, restaurants, and entertainment venues. The company's business is centered around providing gaming experiences primarily to local Las Vegas residents rather than tourists. The company operates through two main segments: Las Vegas Operations (Primary Segment) - Approximately 95% of revenue: This segment includes 9 major gaming and entertainment facilities and 10 smaller casinos strategically located throughout the Las Vegas regional market. These properties feature slot machines (approximately 13,894 machines), table games (240 tables), hotel accommodations (3,081 rooms), restaurants, bars, and entertainment venues. Key properties include flagship locations like Green Valley Ranch Resort, Red Rock Casino Resort & Spa, and the recently opened Durango Casino & Resort. Native American Management (Secondary Segment) - Approximately 5% of revenue: This segment involves managing casino operations for Native American tribes, most notably the Graton Resort & Casino in northern California, and includes the development of the North Fork project, a new tribal casino expected to open in 2026. The casino gaming industry revolves around providing various forms of gambling entertainment including slot machines, table games like blackjack and poker, sports betting, and ancillary services like dining and lodging. Slot machines generate the majority of gaming revenue, as they require minimal staffing and can operate continuously. Table games, while requiring more labor, typically generate higher revenue per square foot and attract higher-value customers.
Competitive moat
Red Rock Resorts possesses a moderate to strong competitive moat built primarily around geographic positioning and regulatory barriers, though this moat faces some structural challenges. The company's primary moat stems from its strategic real estate locations throughout the Las Vegas Valley, particularly in suburban areas where it has established dominant market positions. With over 440 acres of developable land in high-growth areas, the company has secured prime locations that would be difficult and expensive for competitors to replicate. The regulatory environment also provides protection, as gaming licenses are limited and heavily regulated, creating significant barriers to entry for new competitors. Red Rock's customer loyalty programs and database represent another defensive asset, with hundreds of thousands of local customers who have established gaming habits and preferences tied to specific properties. The company's focus on local residents rather than tourists creates more predictable, recurring revenue streams compared to tourism-dependent operators. However, the moat faces several challenges. Geographic expansion of gaming in neighboring states like Arizona and California provides alternative options for local customers. Online gaming and sports betting create new competitive pressures, though Nevada's regulatory framework has allowed the company to participate in these markets. The locals gaming market is mature, with limited organic growth potential, forcing the company to compete primarily by taking market share from existing operators. Potential disruption could come from continued expansion of gaming in surrounding states, changes in federal gaming regulations, economic downturns that disproportionately affect discretionary spending, or demographic shifts in the Las Vegas Valley. The company's heavy debt load also limits financial flexibility compared to better-capitalized competitors. While Red Rock maintains market leadership in the locals segment, the moat is more dependent on regulatory protection and location advantages than on truly differentiated products or services.
Risks & safety
Red Rock Resorts presents moderate financial risk with concerning leverage levels but adequate liquidity management. • Debt and Solvency Risk: Debt-to-equity ratio of 13.8x indicates extremely high leverage, though this is somewhat typical for casino operators. Total liabilities of $3.7 billion against $370 million in equity creates significant financial risk. However, strong cash flow generation of $548 million from operations provides debt service capability. • Liquidity Position: Current ratio of 0.91 indicates tight short-term liquidity, with current liabilities slightly exceeding current assets. Cash position of $164 million provides some buffer, but the company relies heavily on operational cash flow to meet obligations. • Valuation Metrics: EV/EBITDA of 7.3x appears reasonable for the sector. Price-to-earnings ratio of 14.3x suggests modest valuation. However, price-to-book ratio of 10.4x reflects the asset-heavy nature of the business and high leverage. • Cash Generation: Strong operational cash flow of $548 million annually with free cash flow of $249 million demonstrates the business's ability to generate cash, though significant capital expenditure requirements for property maintenance and expansion projects create ongoing cash needs. • Other Considerations: The company maintains an active capital return program with dividends and share repurchases, indicating management confidence, but the high leverage limits financial flexibility during economic downturns.
Recent development
Over the past few years, Red Rock Resorts has executed a focused expansion and renovation strategy centered around capturing growth in the Las Vegas locals market. The company's most significant development was the opening of Durango Casino & Resort in December 2023, which has exceeded expectations by attracting over 95,000 new customers and generating approximately 16% returns. The success of Durango prompted the company to announce a $120 million expansion project adding 25,000 square feet of casino space, 230 slot machines, and a 2,000-space parking garage, scheduled for completion in January 2026. The company has also undertaken major property renovation initiatives across its existing portfolio, including a $53 million renovation at Sunset Station, a $180 million room and convention space refresh at Green Valley Ranch, and various improvements to maintain competitiveness. These investments reflect the company's strategy of reinvesting in existing assets to maximize returns from established locations. Geographic expansion represents another key strategic move, with the company developing the North Fork project in California, a $750 million tribal casino expected to open in mid-2026. This project extends Red Rock's reach into the California market while leveraging its management expertise in tribal gaming operations. The company has also been optimizing its real estate portfolio, selling non-core land assets while acquiring strategic development sites. Red Rock sold approximately 73 acres from former Fiesta Rancho and Texas Station properties while maintaining over 441 acres of developable land for future growth opportunities, including the potential Inspirada project. Throughout this period, Red Rock has maintained a disciplined capital allocation approach, returning significant capital to shareholders through regular and special dividends while maintaining investment in growth projects. The company returned $224 million to shareholders in 2024 alone, demonstrating its commitment to balancing growth investments with shareholder returns.
RRR company profile · for informational purposes only — not investment advice.
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