Red Rock Resorts, Inc.
redrockresorts.comWhat Do They Do?
Operates casinos and resorts offering gaming, hotel stays, and dining and entertainment to Las Vegas residents and out-of-town visitors.
10-K for FY2025, filed Feb 20, 2026Red Rock Resorts, Inc. (“we,” “our,” “us,” “Red Rock” or the “Company”) is a holding company that owns an indirect equity interest in and…View ↗
Our principal source of revenue and operating income is gaming. Our non-gaming offerings include restaurants, hotels and other…View ↗
Our primary operating strategy emphasizes attracting and retaining customers, primarily Las Vegas residents and, to a lesser extent…View ↗
How Do They Make Money?
Guests wager on casino games; the company earns the difference between gaming wins and losses for each day's play. Guests also buy food, drinks, rooms and other amenities, and the company earns development fees under an agreement with a Native American tribe.
10-K for FY2025, filed Feb 20, 2026Casino revenue includes gaming activities such as slot, table game and sports wagering. The transaction price for a gaming wagering…View ↗
The Company’s revenue contracts with customers consist of gaming wagers, sales of food, beverage, hotel rooms and other amenities, and…View ↗
Net Revenues. Net revenues for the year ended December 31, 2025 increased by $72.5 million to $2.01 billion as compared to $1.94 billion…View ↗
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10-K for FY2025, filed Feb 20, 2026
FY2025 revenue by product or service ↗
$2B
-
10-K for FY2025, filed Feb 20, 2026
$2B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Casino
Usage-based
10-K for FY2025, filed Feb 20, 2026 |
67%
FY2022: 68%
|
Casino, FY2025
$1.3B Sources
|
Usage-based |
|
Food and beverage
Sold outright
10-K for FY2025, filed Feb 20, 2026 |
18%
FY2022: 17%
|
Food and beverage, FY2025
$362.4M Sources
|
Sold outright |
|
Room
|
9.5%
FY2022: 9.9%
|
Room, FY2025
$190.1M Sources
|
|
|
Other
|
5.0%
FY2022: 5.4%
|
Other, FY2025
$100.8M Sources
|
|
|
Management Service
|
0.9% |
Management Service, FY2025
$17.6M Sources
|
Who Are Their Customers?
Guests visit the casino properties for gaming, rooms, meals and entertainment; Native American tribes engage the company to develop and manage regional entertainment destinations.
10-K for FY2025, filed Feb 20, 2026Our primary operating strategy emphasizes attracting and retaining customers, primarily Las Vegas residents and, to a lesser extent…View ↗
Provide a high quality, value-oriented gaming and entertainment experience. We are committed to providing a high-value entertainment…View ↗
Develop and operate Native American projects. We provide development and management services to Native American tribes using our expertise…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 9 cents of every revenue dollar as net income in FY2025 and turned 14 cents into free cash flow.
10-K for FY2025, filed Feb 20, 2026
$597.4MView ↗
10-K for FY2025, filed Feb 20, 2026
$188.1MView ↗
10-K for FY2025, filed Feb 20, 2026
$290.5MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
Growing. Revenue grew 24% in 4 years, from $1.6B in FY2021 to $2B in FY2025, about 6% a year.
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