Red Rock Resorts reported the highest first-quarter net income ever from its Las Vegas operations on Wednesday during the company’s first-quarter earnings call.
Record net income from Las Vegas operations was $499.5 million for the quarter ended March 31, up 0.9 percent from the same period in 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 on the call. “Durango continues to expand the Las Vegas local population and drive incremental play from our existing customers.
“Since completing our ($120 million) expansion in December, adding more than 25,000 square meters of casino space, a premium high-limit slot area and nearly 2,000 additional covered parking spaces, we have continued to see strong financial performance along with 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 to the north side of the property, 400 additional slot machines, a 36-lane bowling facility, luxury movie theaters and new restaurants and entertainment venues, including Country-Moonwesterne Flat bars. The project is scheduled to open in the summer of 2027.
Cootey said first-quarter gaming revenue and profitability were the highest in the company’s history, boosted by high margin areas at its properties that are part of a “proven strategy that consistently generates strong returns across our portfolio.”
He said the company is making great progress at Sunset Station with 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 completely 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 is also moving forward with the next $87 million expansion phase at Sunset Station that will continue the extensive casino refresh, including expanding and improving the movie theater and moving the temporary bingo area to a new permanent location. The former buffet space will be converted into 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 completely refreshed casino floor, upgraded entertainment and food and beverage, and renovations to the East Tower.
Red Rock Resorts reported net income 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 in 2025. Net sales were a record for the tenth consecutive quarter. Net income was $82.7 million, down 3.8 percent from $86.0 million in the first quarter last year.
Red Rock shares, which trade on the Nasdaq exchange, closed at $56.16, a daily gain of 1.13 percent.
Contact reporter Todd Dewey at tdewey@ theplayerlounge.com. Follow @tdewey33 on X.
