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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.

BetMGM

BetMGM Relaunches Borgata Online Platform

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BetMGM, a leading iGaming and sports betting operator, announced the official relaunch of Borgata Online, representing the platform’s latest evolution and building on more than a decade of continuous innovation since its 2013 debut as one of New Jersey’s first regulated online casinos. Borgata Hotel Casino & Spa will host a Fourth of July weekend celebration to mark the launch of the reimagined platform.

“Borgata wrote the first chapter of legal online gambling in 2013 and now we are writing the next one. Borgata players are some of our most engaged and loyal customers, so we wanted to ensure their experience reflects the exceptional quality that has become synonymous with the Borgata name. Borgata provides a seamless connection to online and in-person experiences and exemplifies what a legal, regulated online casino can achieve. This latest product investment underscores how seriously we take our responsibility to players, regulators, and all who have made Borgata Online what it is today,” said Matt Prevost, Chief Revenue Officer at BetMGM.

Borgata’s online journey began October 9, 2013 when it received New Jersey’s first internet gambling permit from the New Jersey Division of Gaming Enforcement. Borgata was part of the state’s initial soft-launch group November 21, 2013, and legal online casino gambling in New Jersey went fully live to the public November 26, 2013. Borgata Online has since been a consistent contributor to New Jersey’s economy, with records dating to 2015, indicating the brand has contributed $250 million in taxes to the state.

Built on more than two decades of regional brand equity established in Atlantic City, the reimagined Borgata Online (available in New Jersey and Pennsylvania) delivers a refreshed interface, streamlined navigation, and ongoing feature parity with BetMGM’s flagship platform.

Key enhancements and events include:

Streamlined navigation

• The update delivers a full, visual refresh alongside a suite of new features designed to improve usability and engagement. Among the enhancements are structured top navigation tabs and a standardized bottom navigation bar, making it easier for players to browse and navigate the platform. The redesigned account hub centralizes information including available bonuses, playable balance, and withdrawable balance within a single tap.

• Casino players will benefit from improved access to their gaming activity. They can quickly launch favorite and recently played games directly from the home screen, streamlining the path back into gameplay.

New Rewards Hub

• Central to the update is a new unified Rewards Hub that consolidates promotions, Borgata Rewards Points, and MGM Rewards tier status into a single destination. It provides players with full visibility into the value they’ve earned and showcases the scope of the online and on-property ecosystem.

Expanded game selection built for Borgata players

• Borgata Online features 4000 titles, including 250 exclusive games and an industry-leading live dealer offering. Bespoke Borgata-branded games are planned throughout the remainder of the year, including Borgata Gem Strike and Borgata 777 Respin Deluxe, the sequel to Borgata 777 Respin, which has ranked among the platform’s top-performing titles for more than five years.

Fourth of July weekend

• Borgata Hotel Casino & Spa and Borgata Online will present a fireworks spectacular on Friday, July 3. Produced by the world-renowned Fireworks by Grucci, the 20-minute display of colorful, choreographed pyrotechnics will illuminate the Atlantic City skyline starting at 9:30 p.m. Public viewing will be available starting at 8:30 p.m. from Borgata’s surface lot.

• Borgata Online will celebrate its launch with a multi-day on‑property activation. Festivities begin Friday, July 3 with an adult game zone experience featuring interactive entertainment and branded giveaways, followed by hotel activations Saturday, July 4 and Sunday, July 5. Throughout the weekend, guests can visit the claw machine activation in the lobby, where new Borgata Online players who sign up and make a $25 deposit can pull for prizes, including the chance to win a $10,000 online casino bonus, luxury prizes and bonus spins. Casino bonus is non‑withdrawable and subject to a 1x playthrough requirement. It will be credited to the player’s account with three days to claim and will expire seven (7) days thereafter.

• Guests are invited to step into a nostalgic New Jersey diner scene for a complimentary retro-inspired photo opportunity on the casino floor – Saturday, July 4 from noon to 5 p.m. and Sunday, July 5 from 2-8 p.m.

The post BetMGM Relaunches Borgata Online Platform appeared first on Americas iGaming & Sports Betting News.

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Arizona Department of Gaming

Arizona Department of Gaming Concludes Legislative Session with Approved Agency Continuation and Enhanced Spending Authority for Problem Gambling

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Department is continued for six years to regulate an extensive portfolio: tribal gaming, event wagering and fantasy sports, horse racing and simulcast wagering, and boxing and mixed martial arts

State budget includes a 20 percent increase in problem gambling treatment and prevention appropriations

The Arizona Department of Gaming (Department) announced today that with Governor Hobbs’ signature on Senate Bill 1671, the Department has received continuation approval by the Arizona State Legislature, which periodically reviews state agencies for performance and authority. Additionally, through Senate Bill 1847 and the state’s Fiscal Year 2027 budget, the Department’s Division of Problem Gambling received expanded expenditure authority, enabling additional investments in problem gambling prevention, education, treatment, and recovery services across Arizona.

“Arizona first established the Department of Gaming in 1995 – and more than thirty years later, we remain excited about world-class regulation benefiting the entire state,” said Jackie Johnson, Department Director. “I’m grateful to Governor Hobbs and leaders in the state legislature, particularly continuation bill sponsor State Senator Shawnna Bolick, who thoroughly reviewed our agency with a deep commitment to public service, and I am pleased that the Department secured its continuation, which will allow us to strengthen our focus points in robust consumer protection and integrity.”

The Department, the Arizona State Boxing and Mixed Martial Arts Commission, and the Arizona Racing Commission are continued by the legislature for six years, per the enactment of Senate Bill 1671, sponsored by Senator Shawnna Bolick, in the 2026 legislative session that adjourned on June 12, 2026. This continuation affirms the Department’s and both Commissions’ authority to carry out the roles and responsibilities delegated by the legislature.

The Department’s Division of Problem Gambling marked the legislative session with the passage of a new state budget that grants $4,000,000 in total authorized spending for the Division. The $4,000,000 authority represents a 20 percent increase from the FY26 budget. Additionally, the legislature granted an annual $500,000 expenditure authority for the agency to use Event Wagering funds to support problem gambling. Finally, the Division will have grant oversight authority for the first time– allowing the Division to expand programs to assist those in need.

“The new state budget will strengthen longstanding investments in problem gambling assistance made possible through partnerships with Arizona’s Tribal Nations and the Arizona Lottery,” said Elise Mikkelsen. “We continue to see strong demand from individuals and families seeking information, resources, and treatment for gambling-related harm. This increased funding will help us expand the continuum of care and ensure more Arizonans have access to effective, inclusive, and timely support.”

In addition to supporting the Division in state-wide access to problem gambling prevention and treatment, the Department is actively engaged in responsible gaming and safer play initiatives. Now in its first year of the campaign, the Department’s Take Back the Game initiative in partnership with the Arizona Media Association is raising awareness of gambling self-exclusion options available through the agency. The campaign, which runs in English and Spanish across Arizona media outlets, lets viewers know that if gambling is no longer fun, they can Take Back the Game and self-exclude from Arizona casinos, sportsbooks, and fantasy sports operators. Also in 2026, the Department’s Too Young to Bet campaign emphasizes the risks associated with youth gambling.

To learn more about the Arizona Department of Gaming, visit gaming.az.gov. To learn more about problem gambling prevention and treatment, visit problemgambling.az.gov.

The post Arizona Department of Gaming Concludes Legislative Session with Approved Agency Continuation and Enhanced Spending Authority for Problem Gambling appeared first on Americas iGaming & Sports Betting News.

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Gambling in the USA

Wind Creek Hospitality Celebrates “Winner Takes All” Champion After $1 Million Win, Chance at Up to $11.8 Million

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Wind Creek Hospitality has announced the winner of its cross-property “Winner Takes All” casino promotion, which culminated in a championship event held at Wind Creek Chicago Southland. The event brought together finalists from across Wind Creek’s portfolio for a high-stakes grand prize championship competition and VIP Guest experience.

Finalists qualified through slot tournaments at their home properties and advanced through quarterfinal and semifinal rounds before earning their place in the final championship event in Chicago. The finale featured a series of timed slot tournaments held on June 13, progressively narrowing the field of competitors through elimination rounds until the final winner was determined.

At the conclusion of the tournament on June 13, Aaron Nelson from Wind Creek Atmore was crowned the winner of the “Winner Takes All” competition, claiming a $1,000,000 prize in the tournament’s final round, and earning the opportunity to compete for the promotion’s ultimate grand prize of up to $11,888,888. “Winner Takes All” finalists were also awarded more than $200,000 in cash and prizes in the finale tournament, including a $100,000 second-place prize followed up by a drawing with a $50,000 prize pool, including a $25,000 top prize and multiple $1000 prize winners.

In addition to the competition, finalists participated in curated Wind Creek Rewards experiences designed to highlight Chicago’s cultural and hospitality offerings. Experiences included a Chicago River architectural boat cruise and a guided Chinatown culinary tasting tour, alongside a welcome reception featuring food and beverage service. Travel and accommodations were provided by Wind Creek Hospitality as part of the finalist experience.

The “Winner Takes All” promotion marked one of Wind Creek Hospitality’s most expansive cross-property tournament experiences, combining competitive gaming with destination-based Guest programming and elevated hospitality.

The post Wind Creek Hospitality Celebrates “Winner Takes All” Champion After $1 Million Win, Chance at Up to $11.8 Million appeared first on Americas iGaming & Sports Betting News.

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