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Red Rock Resorts’ second-quarter numbers for 2025 show strong growth across most areas of the business, with healthy gains in revenue and profitability despite slightly higher operating costs.
Good to know
- Net income for Q2 2025 jumped 55.1% year-over-year to $108.3 million.
- Total company revenue reached $526.3 million, up 8.2% from last year.
- Adjusted EBITDA climbed 13.7% year-over-year to $229.4 million.
The company’s Las Vegas operations, which remain its biggest revenue driver, generated $513.3 million in Q2 2025. That’s a 6.2% increase compared to the same quarter in 2024. Adjusted EBITDA from these operations also rose by 7.3% to $239.4 million.
Casino operations continued to lead the way, bringing in $344.8 million, a 7.9% jump from last year. Food and beverage revenue followed at $94.4 million (up 2.9%), while room operations added $51.2 million, a 2.1% lift year-over-year.
Red Rock Resorts’ Native American management activities contributed $10 million in net revenue and adjusted EBITDA. The company said this figure included a “cumulative revenue catch-up related to development fees.”
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Rising Costs But Strong Margins
Operating income for Q2 2025 increased nearly 20% year-over-year to just over $168 million. Operating expenses also grew, up 3.5% from last year to $358.2 million. Selling, general, and administrative costs made up the largest portion at just over $112 million, while casino operations costs totaled $93.9 million.
As of June 30, 2025, Red Rock Resorts reported $145.2 million in cash and cash equivalents, alongside $3.4 billion in outstanding debt.
The company’s strong quarterly results were driven primarily by its Las Vegas properties, but regional operations also helped deliver improved overall performance. With net income climbing sharply and EBITDA gains in double digits, Red Rock Resorts continues to benefit from steady demand across its portfolio.
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