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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.

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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Brazil

Superbet honors Cafu with Times Square campaign for 2026 collection

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Limited-run “Super By Superbet” launch includes the “Camisa Cafu,” with 150 numbered and signed units referencing his 150 Brazil caps.

Superbet honored former Brazil captain Cafu on Monday (15) with a campaign displayed on a Times Square billboard in New York City. The company said the activation promoted its “Super By Superbet” exclusive collection created for the 2026 edition, which includes a special piece dedicated to the player.

According to the company, Cafu attended the display in person, drawing a crowd of fans seeking photos and chanting his name in one of the city’s busiest tourist areas.

The shirt is wonderful. I feel very happy for all the incredible moments I’ve experienced here. I receive so much affection everywhere I go. Receiving recognition while still alive is one of the best things in the world.”.

It’s an inexplicable energy to feel the love of the Brazilian people for me, right there in Times Square. Only we Brazilians know what that means.

The centerpiece of the launch, which Superbet said totals 3,000 pieces, is the “Camisa Cafu.” The item is a limited run of 150 numbered and autographed units, which the company said references Cafu’s 150 matches for the Brazilian national team, and includes the inscription “Jardim Irene,” highlighting the player’s roots.

 

The post Superbet honors Cafu with Times Square campaign for 2026 collection appeared first on Americas iGaming & Sports Betting News.

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Choctaw Casino & Resort

Oklahoma Man Wins $1 Million in Choctaw Casino & Resort – Durant’s first “3 Months. 3 Millionaires.” Drawing of 2026

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Choctaw Casino & Resort – Durant announced its first millionaire of the summer late Saturday evening as part of the 2026 edition of “3 Months. 3 Millionaires.” Douglas C. from Norman, Oklahoma, became the First of three lucky Choctaw Rewards Club members to become an instant millionaire this summer.

Douglas who was very surprised to hear his name, said he plans to give a portion of his winnings to a few charities.

“I don’t feel any different. Being a millionaire is a state of mind and how you deal with folks and what you do to make this world a better place,” he said.

Choctaw Casino & Resort – Durant is also taking the excitement of “3 Months. 3 Millionaires.” to the winner’s hometown and will make a $10,000 donation to a local 501(c)(3) nonprofit organization of the winner’s choice.

In addition to crowning a new millionaire, Choctaw Casino & Resort – Durant also held its first-ever bonus drawing for $250,000, where Eden H. from Richardson, Texas, was the winner. This new addition will take place on each million-dollar drawing day, one hour after the grand-prize drawing.

“We are thrilled to announce our first millionaire of the summer. By the end of this summer, Choctaw Casino & Resort – Durant will have made 12 Choctaw Rewards Club members millionaires through this promotion. This truly is where millionaires are made. This is an incredible, life-changing opportunity for our rewards club members, and we’re thrilled to be able to provide it. We look forward to continuing to innovate ways to create exciting opportunities for guests to win here at Choctaw,” said Jeff Penz, senior director of gaming and hospitality for Choctaw Casino & Resort – Durant.

The next $1 million drawing will be held on Saturday, July 11, and the winner must be present to claim their prize.

The post Oklahoma Man Wins $1 Million in Choctaw Casino & Resort – Durant’s first “3 Months. 3 Millionaires.” Drawing of 2026 appeared first on Americas iGaming & Sports Betting News.

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