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Red Rock Resorts Announces Fourth Quarter and Year End 2019 Results

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Red Rock Resorts, Inc. reported financial results for the fourth quarter and year ended December 31, 2019.

Net revenues were $460.8 million for the fourth quarter of 2019, an increase of 6.8%, or $29.3 million, from $431.5 million for the same period of 2018. The increase in net revenues was primarily due to an increase in Las Vegas operations, led by an increase in net revenues at the Palms Casino Resort (the “Palms”).

Net income was $6.8 million for the fourth quarter of 2019, a decrease of 48.1%, or $6.3 million, from $13.2 million for the same period of 2018. The decrease in net income was primarily due to a one-time charge related to Company’s purchase of its formerly leased corporate office building and the extinguishment of the lease financing obligation related thereto.

Adjusted EBITDA(1) was $137.6 million for the fourth quarter of 2019, an increase of 1.8%, or $2.5 million, from $135.1 million in the same period of 2018. The increase in Adjusted EBITDA was primarily due to an increase in Las Vegas operations other than the Palms, partially offset by a decrease in Adjusted EBITDA at the Palms.

For the full year, net revenues were $1.86 billion in 2019, an increase of 10.4%, or $175.5 million, from $1.68 billion for the same period of 2018.  The increase in net revenues was primarily due to a $170.8 million increase in Las Vegas operations, led by an increase in net revenues at the Palms.

For the full year, net loss was $6.7 million in 2019, compared to net income of $219.5 million in 2018. The decrease in net income was primarily due to (i) a decrease in the fair value of derivative instruments, (ii) an increase in write downs and other charges including the termination of certain artist performance agreements and employment arrangements at the Palms and (iii) higher depreciation and amortization relating to the Palms redevelopment project.  The change from the prior year was also impacted by a gain recognized in 2018 associated with the extinguishment of a tax receivable liability.

For the full year, Adjusted EBITDA was flat at $509.0 million in 2019 when compared to 2018. The flat year-over-year Adjusted EBITDA was primarily the result of an increase in Las Vegas operations other than the Palms, offset by a decrease in Adjusted EBITDA at the Palms.

Las Vegas Operations

Net revenues from Las Vegas operations were $437.9 million for the fourth quarter of 2019, an increase of 6.9%, or $28.5 million, from $409.5 million in the same period of 2018.  Adjusted EBITDA from Las Vegas operations was $125.5 million for the fourth quarter of 2019, an increase of 3.7%, or $4.5 million, from $121.0 million in the same period of 2018.

Native American Management

Adjusted EBITDA from Native American operations was $19.9 million for the fourth quarter of 2019, a 3.9% increase from $19.1 million in the same period of 2018 due to increased management fees generated under the Graton Resort management agreement.

Balance Sheet Highlights

The Company’s cash and cash equivalents at December 31, 2019 were $128.8 million and total principal amount of debt outstanding at the end of the fourth quarter was $3.076 billion. The Company’s debt to Adjusted EBITDA and interest coverage ratios at December 31. 2019 were 4.96x and 4.37x, respectively.

Quarterly Dividend

The Company’s Board of Directors has declared a cash dividend of $0.10 per Class A common share for the first quarter of 2020. The dividend will be payable on March 27, 2020 to all stockholders of record as of the close of business on March 13, 2020.

Prior to the payment of such dividend, Station Holdco LLC (“Station Holdco”) will make a cash distribution to all unit holders of record, including the Company, of $0.10 per unit for a total distribution of approximately $11.7 million, approximately $7.0 million of which is expected to be distributed to the Company and approximately $4.7 million of which is expected to be distributed to the other unit holders of record of Station Holdco.

 

SOURCE Red Rock Resorts, Inc.

Fanatics Casino

RLX Gaming expands US reach through Fanatics Casino launch

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RLX Gaming, the innovative iGaming aggregator and content supplier, has officially launched its full portfolio with Fanatics Casino in the United States.

Players in New Jersey and Pennsylvania can now access RLX Gaming’s extensive library of in-house and third-party titles, following a soft launch in Pennsylvania. Leading slot hits like Temple Tumble, Bonsai Dragon Blitz, and The Great Pigsby are now live, alongside a broad selection of releases from some of the most creative studios in the industry.

Fanatics Casino, available in Michigan, New Jersey, Pennsylvania, and West Virginia on iOS and Android, offers a wide variety of classic and modern casino experiences, including slots, blackjack, roulette, progressive jackpots, and video poker. Each game is designed to deliver authentic casino action, ensuring endless entertainment for players.

This partnership marks a significant step in RLX Gaming’s mission to deliver dynamic, globally-ready content that drives innovation and engagement in the online casino space.

Matthew Hockenjos, Commercial Account Manager for North America at RLX Gaming, said:

“Our collaboration with Fanatics Casino represents a major milestone for RLX Gaming as we strategically broaden our footprint across North America. Fanatics Casino’s commitment to delivering top-tier entertainment aligns perfectly with our mission, and we’re thrilled to bring our engaging slot experiences to players in New Jersey and Pennsylvania.”

Kieron Shaw from Fanatics Casino added:

“We are delighted to integrate RLX Gaming’s captivating portfolio into our platform. This partnership reinforces our dedication to offering a premier online casino experience, giving players access to high-quality titles with proven appeal across New Jersey and Pennsylvania.”

The post RLX Gaming expands US reach through Fanatics Casino launch appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Gambling in the USA

WWE and White Hat Studios Deliver WrestleMania®: Road to Gold Exclusively to Fanatics Casino

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WWE®, part of TKO Group Holdings (NYSE: TKO), and White Hat Studios have announced the launch of the official WWE-branded slot, WrestleMania®: Road to Gold, exclusively on Fanatics Casino starting today.

Available in the United States, this real-money online casino game features 20 WWE superstars, including fan favorites Cody Rhodes and Rhea Ripley, just ahead of WrestleMania® 42, returning to Las Vegas on April 18–19, 2026.

The game’s Unlock Trail mechanic takes players through WWE Premium Live Events, with progressive bonus features inspired by SummerSlam®, Survivor Series®, Royal Rumble®, Elimination Chamber®, and Money in the Bank®. Each milestone builds excitement and win potential, culminating in the ultimate WrestleMania® showdown. The ringside experience is enhanced by the unmistakable voice of Michael Cole, adding authenticity and immersion to every spin.

Armen Tatarevic, VP of Gaming at White Hat Studios, said:

“WWE is an iconic brand steeped in entertainment history, and the aim was to collaborate closely to channel that legacy into WrestleMania®: Road to Gold. From superstar athletes to headline events, there are numerous touchpoints that fans will enjoy, and this is a major IP launch for White Hat Studios as we continue to deliver a main event experience to casino players in the United States.”

Conor Grant, President, Casino at Fanatics Betting and Gaming, added:

“WWE is a worldwide entertainment phenomenon, and the energy of the brand has been captured perfectly in WrestleMania®: Road to Gold. This new WWE-branded experience on Fanatics Casino reflects our strategy to leverage the power of Fanatics IP assets to offer customers a premium, differentiated experience.”

Fanatics Casino, the fastest-growing online casino in the U.S., is available on iOS, Android, and web in Michigan, New Jersey, Pennsylvania, and West Virginia. WrestleMania®: Road to Gold joins Fanatics’ lineup of licensed WWE titles, including WWE® Blackjack, Raw® Multiplier

The post WWE and White Hat Studios Deliver WrestleMania®: Road to Gold Exclusively to Fanatics Casino appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Carousel Bar Las Vegas

Celebrate St. Patrick’s Day at the Plaza Hotel & Casino’s Carousel Bar

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The festive spirit of St. Patrick’s Day returns to downtown Las Vegas as the Plaza Hotel & Casino prepares to host its annual celebration at the dazzling Carousel Bar. Set beneath the venue’s iconic illuminated dome, the popular holiday gathering promises lively entertainment, themed cocktails, and a vibrant atmosphere for visitors and locals alike.

Beginning at 4 p.m. on Tuesday, March 17, the Carousel Bar will transform into a spirited St. Patrick’s Day destination featuring festive décor, upbeat music, and drink specials inspired by Irish tradition. The celebration takes place just steps away from the bustling Fremont Street Experience, making it an ideal stop for anyone exploring downtown Las Vegas during the holiday.

A Festive Downtown Celebration

Each year, St. Patrick’s Day brings an influx of revelers to Las Vegas, and the Plaza’s Carousel Bar has quickly become one of downtown’s standout locations to mark the occasion. Known for its visually striking design and lively ambiance, the bar sits beneath the Plaza’s glittering dome and features large-scale animated elements that create an immersive party atmosphere.

For the holiday celebration, guests can expect Paddy Party Music Hits filling the air, creating the soundtrack for an evening of Irish-inspired fun. The event will also feature festive backdrops designed for selfies and group photos, allowing visitors to capture memories of the celebration against colorful St. Patrick’s Day-themed visuals.

The Carousel Bar’s unique setting makes it particularly appealing for social gatherings, whether visitors are celebrating with friends, colleagues, or fellow tourists exploring the entertainment offerings of Fremont Street.

Special St. Patrick’s Day Drink Menu

No St. Patrick’s Day party would be complete without themed drinks, and the Plaza’s Carousel Bar will offer a lineup of festive specials designed to complement the celebration.

Guests can enjoy Guinness Draught for $8, a classic choice synonymous with Irish heritage and St. Patrick’s Day festivities worldwide. For those looking to sample something stronger, the bar will also offer St. Paddy Irish whiskey shots for $4, providing a quick and spirited toast to the holiday.

Another popular option on the menu is the Irish Car Bomb for $10, a well-known celebratory cocktail that combines Irish stout with whiskey and cream liqueur for a rich and indulgent experience.

For those who prefer a cocktail with a festive twist, the bar will feature the Irish Mule, a vibrant green drink made with ginger beer, Jameson Irish Whiskey, and fresh lime. Priced at $10, this specialty cocktail adds a refreshing and colorful option to the St. Patrick’s Day lineup.

Together, these drink specials provide a range of options designed to suit every taste while embracing the flavors traditionally associated with Irish celebrations.

A Unique Venue in Downtown Las Vegas

The Carousel Bar has become one of the most visually distinctive attractions at the Plaza Hotel & Casino. Its animated elements and glowing dome create a lively centerpiece that draws attention from visitors exploring the property and nearby Fremont Street.

During major holidays and events, the bar often becomes a focal point for celebrations, offering a social space where guests can enjoy themed entertainment and drinks in a lively environment. St. Patrick’s Day is one of the venue’s most anticipated events, bringing together locals and tourists eager to celebrate Irish culture and tradition.

The location also offers easy access to the Fremont Street Experience, one of downtown Las Vegas’ most popular entertainment districts. Visitors can seamlessly move between live music, street performances, casinos, and bars, making the Carousel Bar party a convenient stop within a larger night out in the city.

Capturing the Spirit of St. Patrick’s Day

St. Patrick’s Day celebrations have grown into a global phenomenon, with cities around the world hosting parades, parties, and cultural events honoring Irish heritage. In Las Vegas, where entertainment and nightlife thrive year-round, the holiday provides yet another opportunity for venues to create immersive and memorable experiences.

The Plaza Hotel & Casino embraces this tradition by hosting an event that combines festive décor, themed drinks, and music that encourages guests to embrace the celebratory mood. The addition of photo-friendly backdrops further enhances the experience, allowing attendees to share their celebrations across social media.

For visitors seeking a lively but approachable party atmosphere, the Carousel Bar’s St. Patrick’s Day event offers a welcoming environment where the focus remains on socializing, enjoying drinks, and celebrating the holiday spirit.

A Downtown Destination for Holiday Fun

As St. Patrick’s Day approaches, the Plaza Hotel & Casino once again positions itself as a destination for festive gatherings in downtown Las Vegas. The combination of themed cocktails, music, and the visually captivating Carousel Bar setting creates an experience designed to stand out among the city’s many holiday celebrations.

Whether guests are longtime Las Vegas locals or tourists exploring the city’s historic downtown district, the party promises an energetic environment filled with Irish-inspired charm.

With its vibrant atmosphere and convenient location near the Fremont Street Experience, the Carousel Bar at the Plaza Hotel & Casino provides the perfect setting to raise a glass, enjoy festive drinks, and celebrate St. Patrick’s Day in true Las Vegas style.

The post Celebrate St. Patrick’s Day at the Plaza Hotel & Casino’s Carousel Bar appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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