Las Vegas locals market same-store sales growth and visitation trends, particularly slot machine revenue per unit per day
EBITDA margin expansion or contraction driven by operating leverage on fixed property costs
Capital allocation decisions including share buybacks (given 85% ROE), dividend policy, and new property development in growing Las Vegas suburbs
Nevada gaming tax policy changes and regulatory developments affecting locals casino operators
high - Las Vegas locals casinos are highly sensitive to regional employment, wage growth, and discretionary income levels. Gaming spend represents pure discretionary entertainment, with visitation frequency and spend per visit declining rapidly during recessions as Nevada residents reduce non-essential spending. The 3.7% revenue growth reflects moderate economic conditions, but downturns historically cause 15-25% revenue declines. Conversely, strong employment markets and rising wages in Las Vegas drive increased gaming frequency and higher slot/table game spend.
Rising interest rates negatively impact Red Rock through multiple channels: (1) the 15.54x debt/equity ratio means higher refinancing costs on the substantial debt load, directly reducing net margins; (2) higher mortgage rates slow Las Vegas housing market growth, reducing population inflows to suburban markets where properties are located; (3) elevated rates compress valuation multiples for leveraged gaming operators as the discount rate increases; (4) consumer financing costs rise, reducing discretionary income available for gaming entertainment. The 0.75 current ratio indicates limited liquidity buffer for debt service under rising rate scenarios.
Online sports betting and iGaming cannibalization as Nevada residents shift entertainment spending to mobile platforms operated by DraftKings, FanDuel, and BetMGM, reducing physical casino visitation
Las Vegas market saturation with limited organic growth as locals casino penetration matures and competitive intensity increases among Red Rock, Boyd Gaming, and tribal operators
Regulatory risk from Nevada gaming tax increases or smoking ban implementations that could reduce property-level profitability or customer visitation
value - The 1.9x price/sales and 8.8x EV/EBITDA multiples attract value investors seeking leveraged exposure to Las Vegas economic recovery and locals market growth. The 85% ROE and 6.7% FCF yield appeal to investors focused on capital returns through buybacks. However, the 15.54x debt/equity and cyclical nature deter conservative investors. The stock attracts regional gaming specialists and event-driven investors focused on capital allocation, potential M&A, or real estate monetization opportunities.
Trend
-4.6% vs SMA 50 · -2.3% vs SMA 200
Momentum
Accumulation pattern present — more buying days than selling over the past 20 sessions. Volume conditions support gradual price improvement.
Based on volume distribution analysis. Direct short interest data (short float %, days to cover) is not available in current data sources.
Analyst consensus estimates · Actuals replace estimates as reported
| Year | Revenue Est. | Rev Gth | EPS Est. | EPS Gth | Range | Analysts |
|---|---|---|---|---|---|---|
FY2023 | $1.8B $1.8B–$1.9B | — | $2.91 | — | ±3% | High5 |
FY2024 | $1.9B $1.9B–$1.9B | ▲ +4.5% | $1.52 | ▼ -47.9% | ±3% | High10 |
FY2025 | $2.0B $2.0B–$2.0B | ▲ +3.6% | $2.27 | ▲ +49.4% | ±4% | High9 |
Dividend per payment — last 8 periods
NEW YORK, May 04, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP reminds purchasers of Super Micro C…
Red Rock Resorts owns a majority indirect equity interest in and manages Station Casinos LLC ('Station Casinos'). Station Casinos is the leading provider of gaming and entertainment to the residents of Las Vegas, Nevada. Station Casinos' properties, which are located throughout the Las Vegasvalley, are regional entertainment destinations and include various amenities, including numerous restaurants, entertainment venues, movie theaters, bowling and convention/banquet space, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering. Station Casinos owns and operates Red Rock Casino Resort Spa, Green Valley Ranch Resort Spa Casino, Palms Casino Resort, Palace Station Hotel & Casino, Boulder Station Hotel & Casino, Sunset Station Hotel & Casino, Santa Fe Station Hotel & Casino, Texas Station Gambling Hall & Hotel, Fiesta Rancho Casino Hotel, Fiesta Henderson Casino Hotel, Wildfire Rancho, Wildfire Boulder, Wild Wild West Gambling Hall & Hotel, Wildfire Sunset, Wildfire Valley View, Wildfire Anthem and Wildfire Lake Mead. Station Casinos also owns a 50% interest in Barley's Casino & Brewing Company, Wildfire Casino & Lanes and The Greens. In addition, Station Casinos is the manager of Graton Resort & Casino in northern California.
| Symbol | Price | Day % | Mkt Cap↓ | P/E | Rev Grw | Margin | ELO |
|---|---|---|---|---|---|---|---|
RRR◀ | $58.47 | -2.08% | $3.4B | 16.2 | +373.8% | 935.0% | 1500 |
| $272.05 | +1.41% | $2.9T | 32.2 | +1237.8% | 1083.4% | 1515 | |
| $392.51 | +0.45% | $1.5T | 327.5 | -293.1% | 400.1% | 1490 | |
| $312.42 | -3.54% | $311.2B | 21.9 | +324.0% | 859.6% | 1485 | |
| $284.10 | -0.89% | $201.9B | 23.7 | +372.3% | 3185.0% | 1488 | |
| $154.64 | -1.40% | $171.7B | 31.7 | +711.9% | 910.0% | 1510 | |
| $165.58 | -2.39% | $128.3B | 21.3 | +1338.7% | 2007.7% | 1489 | |
| Sector avg | — | -1.20% | — | 67.8 | +580.8% | 1340.1% | 1497 |