Gambling in the USA

Red Rock Resorts Announces Fourth Quarter and Year End 2019 Results

Published

6 years ago

February 6, 2020

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.

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BETER Cracks Florida Market: Setka Cup Now Live on Hard Rock Bet

Published

7 days ago

December 23, 2025

Wladimir P.

beter-cracks-florida-market:-setka-cup-now-live-on-hard-rock-bet

Editor’s Take

Why this matters: Florida is a “monopoly market” controlled by the Seminole Tribe, meaning there is only one door in: Hard Rock Bet. By securing vendor registration here, BETER gains access to one of the most populous states in the U.S. without the fragmentation of competition seen in states like New Jersey. The immediate deployment of Setka Cup (table tennis) fills a crucial need for 24/7, fast-paced content during U.S. daytime off-hours.

The Full Story

BETER, the provider of next-gen betting content and data, has officially entered the Florida sports betting market after securing Vendor Registration from the Seminole Tribe of Florida (dba Seminole Gaming).

The regulatory approval allows BETER to supply its fast-paced betting products to the state’s sole authorized operator, Hard Rock Bet.

Day One Impact: Table Tennis Following the approval, BETER has immediately launched its exclusive Setka Cup table tennis tournaments on the Hard Rock Bet platform.

The Product: Setka Cup provides 24/7 live streaming, real-time data, and odds.
The Reach: Florida becomes the fifth U.S. state where Setka Cup is available to bettors.
The Metric: BETER covers approximately 700,000 fast-paced events annually, offering up to 50 betting markets per event with margins often exceeding market standards.

Next Phase: Esports While table tennis is live now, BETER has confirmed that its esports portfolio—specifically ESportsBattle—will be integrated into Hard Rock Bet in the “near future.” This will bring round-the-clock eFootball, eBasketball, and other fast-market disciplines to Florida bettors.

Management Commentary Chuck Robinson, Chief Revenue Officer at BETER, emphasized the strategic value of the exclusive Hard Rock partnership:

“Launching Setka Cup with our partner Hard Rock Bet is particularly significant, as it allows us to introduce our fast-betting content to Florida bettors through a highly trusted sportsbook platform. We see strong long-term potential in Florida… Our esports content, particularly ESportsBattle, will also be going live soon.”

Valeriia Tarchynska, Chief Legal Officer at BETER, noted the complexity of the approval:

“Obtaining vendor registration in Florida reflects the strength of our regulatory strategy… We are grateful to the Seminole Tribe of Florida dba Seminole Gaming for their cooperation throughout the registration process.”

This approval is part of a wider U.S. expansion strategy for BETER, which has already secured access in key states including Ohio, Arizona, and Kentucky.

The post BETER Cracks Florida Market: Setka Cup Now Live on Hard Rock Bet appeared first on Gaming and Gambling Industry Newsroom.

BETER

BETER Secures Vendor Registration in Florida

Published

7 days ago

December 23, 2025

GamingAmericas.com

beter-secures-vendor-registration-in-florida

BETER, the award-winning provider of live streaming, real-time data, and odds for fast-paced esports and sports content, has continued its U.S. expansion by securing Vendor Registration in the state of Florida.

The registration was granted by the Seminole Tribe of Florida dba Seminole Gaming, the regulatory authority that also oversees sports betting operations in the state.

Following the approval, BETER’s exclusive Setka Cup table tennis tournaments, featuring live streams, live data, and odds, are now available to bettors via the Hard Rock Bet. This launch marks BETER’s official entry into the Florida market, making Florida the fifth U.S. state where Setka Cup is available.

BETER delivers 24/7 live streaming, real-time data, and hyper-accurate odds for approximately 700,000 fast-paced events each year across a range of esports and sports disciplines, offering up to 50 betting markets per event and an average operator margin higher than the market standard. BETER expects to unlock much of this additional value through the integration of its exclusive ESportsBattle content into the Hard Rock Bet platform in the near future.

All matches are thoroughly monitored by BETER’s dedicated Integrity team, ensuring strict adherence to transparency standards and the rules of fair play.

Chuck Robinson, Chief Revenue Officer at BETER, said: “Securing vendor registration in Florida is another major milestone for BETER and a clear signal of our growing momentum across regulated U.S. markets.

“Launching Setka Cup with our partner Hard Rock Bet is particularly significant, as it allows us to introduce our fast-betting content to Florida bettors through a highly trusted sportsbook platform. We see strong long-term potential in Florida and are excited to continue building our presence here. Our esports content, particularly ESportsBattle, will also be going live soon, further enhancing the overall betting experience in the state.

“Our teams are looking forward to fruitful collaboration.”

Valeriia Tarchynska, Chief Legal Officer at BETER, added: “Obtaining vendor registration in Florida reflects the strength of our regulatory strategy and the expertise of our legal team in navigating the complex U.S. regulatory landscape.

“We are grateful to the Seminole Tribe of Florida dba Seminole Gaming for their cooperation throughout the registration process. This approval further supports our broader U.S. expansion plans as we continue securing licenses and launching our products in key regulated states, including Ohio, Arizona, Kentucky, and others.”

The post BETER Secures Vendor Registration in Florida appeared first on Americas iGaming & Sports Betting News.

Andre Medeiros

Greentube expands Latin American footprint with Brazino777 partnership

Published

1 week ago

December 22, 2025

Wladimir P.

greentube-expands-latin-american-footprint-with-brazino777-partnership

Greentube, the NOVOMATIC Digital Gaming and Entertainment division, has strengthened its presence in Latin America after partnering with Brazino777, an online casino and sports betting brand known for its player-first experience and fast withdrawals, to roll out a selection of its top-performing titles to the Brazilian market.

Following the agreement, Greentube’s platform is now live with Brazino777 in Brazil, marking an important milestone in the supplier’s regional growth strategy and reinforcing its commitment to delivering market-relevant content in newly regulated jurisdictions.

As part of the collaboration, Brazino777 players can enjoy some of Greentube’s most popular new releases, including Piggy Prizes:Wand of Riches 2, Trinity Treasures Wukong Buy Bonus, and Caichen Triple Blossom.

Alongside these titles, a curated selection of Greentube’s iconic classic games have also been integrated, including Book of Ra deluxe, Diamond Link: Mighty Sevens, and Cash Connection – Golden Sizzling Hot.

These games were selected for their proven performance in regulated markets and their strong appeal to Brazilian players, making them an ideal fit for Brazino777’s growing casino offering.

Now, with Brazil’s regulated online gaming landscape offering fresh opportunities, the collaboration is well positioned to reach new heights as the region continues to thrive.

Greentube’s latest Brazilian partnership further reinforces its strategic focus on Latin America as a key growth market. With a diverse portfolio of innovative slots and well-established fan favourites, the company continues to strengthen its position as a leading supplier worldwide.

Wilson Francisco, Sales and Key Account Manage at Greentube, said: “Our launch with Brazino777 is a major step forward for our strategy in Brazil. Their deep understanding of the local audience, paired with Greentube’s commitment to delivering top-performing, culturally relevant content, is a powerful combination.

“We’re confident that this partnership will elevate the player experience and help set new standards in the market.”

Andre Medeiros, Country Manager for Brazil at Brazino777, said: “Greentube’s portfolio is recognised globally for its quality, performance and player appeal. As a brand rooted in Brazilian culture, Brazino777’s focus is simple: a fun, smooth experience our community can enjoy every day.

“Partnering with Greentube reinforces that promise by expanding the entertainment options available to our players in Brazil.”

The post Greentube expands Latin American footprint with Brazino777 partnership appeared first on Gaming and Gambling Industry Newsroom.