Gambling in the USA
Red Rock Resorts Announces Fourth Quarter and Year End 2019 Results
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.
Daniel Lechner
Studio combines engagement tools with bespoke, franchise and omnichannel content under single umbrella
White Hat Studios, a dedicated US iGaming market supplier, has unveiled Amplify Suite, a comprehensive engagement ecosystem designed to deliver operators flexibility, creative autonomy, and measurable commercial impact.
Amplify consolidates the provider’s promotional tools and proprietary content into a fully connected, scalable framework, equipping operators with a diverse range of performance-enhancing solutions engineered to maximise growth across regulated US markets.
Built on an API-first foundation, the suite incorporates White Hat Studios’ Engage promotional engine, comprised of tools such as Win Spins, Super Mode, and Triggers, alongside its award-winning Progressive Jackpot networks. This services an increasing demand for advanced gamification tools, enabling operators to stimulate user activity and drive sustained engagement.
These promotional tools are complemented by the studio’s first-class content portfolio. With a track record of creating custom products for tier-one operators, Amplify Bespoke will build on this momentum to deliver bespoke slots that support deeper brand integration and exclusive IP ownership.
Amplify Franchises transforms standalone hits into enduring game families, exemplified by the US-renowned 7s Fire Blitz
series. By leveraging player familiarity and brand loyalty, franchises consistently drive momentum upon launch and can reignite traction across a game brand.
The suite is further strengthened by Amplify Omni, enabled through the studio’s landmark distribution agreement with Gaming Arts. The partnership facilitates the conversion and distribution of White Hat Studios content across US land-based casinos, while also supporting the transition of land-based titles into regulated online markets for the first time.
This powerful two-way content pipeline enhances the ecosystem, allowing US brands to engage and convert players seamlessly between casino floors and digital platforms.
The launch of Amplify represents a significant milestone in White Hat Studios’ strategic evolution, connecting its full product portfolio within a single, unified framework. Custom-built for US markets, the suite is set to redefine how operators engage their audiences and elevate commercial performance.
Daniel Lechner, SVP Sales and Marketing at White Hat Studios, said: “Amplify will serve as the promotional and engagement backbone of White Hat Studios. Bringing our diverse offering under one cohesive ecosystem, the suite is optimised to deliver tangible impact across the entire player journey.
“By combining configurable engagement tools with premium, high-performing content, Amplify empowers US operators to differentiate and scale within competitive environments.”
The post Studio combines engagement tools with bespoke, franchise and omnichannel content under single umbrella appeared first on Americas iGaming & Sports Betting News.
White Hat Studios, a specialist provider for the regulated US iGaming market, has introduced Amplify Suite, a fully integrated engagement ecosystem built to give operators greater flexibility, creative control, and measurable commercial results.
Amplify brings together the company’s promotional tools and proprietary content into a single, scalable framework, offering a broad set of performance-driven solutions designed to accelerate growth across US markets.
Built on an API-first architecture, the suite incorporates White Hat Studios’ Engage promotional engine, featuring tools such as Win Spins, Super Mode, and Triggers, alongside its established Progressive Jackpot networks. The combined offering addresses rising demand for advanced gamification, enabling operators to boost player activity and sustain long-term engagement.
These capabilities are supported by the studio’s premium content portfolio. Known for delivering tailored products for tier-one operators, the new Amplify Bespoke arm expands this approach, offering custom slot development that allows for deeper brand integration and exclusive IP ownership.
Meanwhile, Amplify Franchises is designed to turn successful standalone titles into long-term game families. A key example is the popular 7s Fire Blitz
series, which demonstrates how familiar branding and player loyalty can drive strong launch performance and ongoing engagement across a franchise.
The ecosystem is further enhanced by Amplify Omni, powered through a landmark distribution agreement with Gaming Arts. This partnership enables the distribution of White Hat Studios’ content across US land-based casinos, while also facilitating the transition of land-based titles into regulated online environments for the first time.
By enabling this two-way content flow, Amplify strengthens connections between retail and digital channels, helping operators engage players seamlessly across both spaces.
The launch marks a major step in White Hat Studios’ strategic development, unifying its entire product portfolio within a single ecosystem tailored specifically for the US market.
Daniel Lechner, SVP of Sales and Marketing at White Hat Studios, said: “Amplify will serve as the promotional and engagement backbone of White Hat Studios. Bringing our diverse offering under one cohesive ecosystem, the suite is optimised to deliver tangible impact across the entire player journey.
“By combining configurable engagement tools with premium, high-performing content, Amplify empowers US operators to differentiate and scale within competitive environments.”
The post White Hat Studios launches all-in-one engagement ecosystem Amplify Suite appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Zitro has announced the U.S. rollout of FANTASY, its latest slot cabinet, following an outstanding early reception across multiple states. Since its debut, FANTASY has resonated with players and operators alike, quickly positioning itself as one of the standout new cabinets on casino floors nationwide.
The cabinet launched its U.S. journey in Minnesota before expanding into Michigan, California, Arizona, New Mexico, and North Carolina, and the story has been consistent across all six states. Strong player engagement, positive operator feedback, and consistent floor performance have followed FANTASY everywhere it has gone.
FANTASY’s strong performance reflects the depth of the experience it delivers. Zitro developed world-class content specifically for this cabinet, including stunning animations, exceptional graphics, and a rich multimedia experience that connects with today’s players. An individual game color lighting system gives each title a distinct identity on the casino floor, and every title was developed exclusively for this form factor. The result is a complete entertainment experience that goes well beyond the cabinet itself.
“We always knew FANTASY was something special, but the response we’ve seen across different casino properties has exceeded our most optimistic expectations. Players are genuinely connecting with this cabinet, operators are seeing the results on their floors, and we believe this is just the beginning of a defining journey for FANTASY in the US,” said Derik Mooberry, CEO of Zitro USA.
The post Zitro Announces the U.S. Rollout of FANTASY Cabinet appeared first on Americas iGaming & Sports Betting News.
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