Red Rock Resorts Slashes Costs, Boosts Margins with Smart Efficiency Moves; But Is It Enough To Warrant Any Kind Of Bullishness?

Red Rock Resorts reported a robust first quarter of 2025, with notable financial achievements across its Las Vegas operations, especially in the gaming sector. Key highlights included the highest first-quarter net revenue and adjusted EBITDA in the company’s history, with an adjusted EBITDA margin maintaining near-record levels. The Las Vegas operations alone generated net revenue of $495 million, a 1.9% increase from the previous year, and an adjusted EBITDA of $235.9 million, reflecting a 2.7% growth. The company’s consolidated net revenue for the quarter reached $497.9 million, a 1.8% rise from the previous year, while consolidated adjusted EBITDA climbed 2.8% to $215.1 million.