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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American gambling industry

Gaming Americas Weekly Roundup – November 24-30

Published

2 days ago

December 1, 2025

Niji Narayan

gaming-americas-weekly-roundup-–-november-24-30

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

VGO Promo, a long-standing platform known for bridging the worlds of cryptocasinos, cryptocurrency exchanges and CSGO skins gaming, has announced a comprehensive expansion of its verification framework designed to bring transparency to online promotional offers. The updated system enhances how users evaluate bonuses across three intersecting ecosystems. Founded during the peak of the CSGO skins economy, VGO Promo originally provided referral codes for case opening websites and virtual item platforms. As the industry evolved towards blockchain based gaming, Bitcoingambling and crypto trading, VGO Promo expanded its scope to support modern platforms including Roobet, Stake, Rollbit, CSGORoll, Duelbits, Binance, OKX, ByBit, Bitget and various case opening services within the CSGO community. The updated verification framework applies a structured, cross industry methodology to help users navigate rapidly changing promotional conditions.

FanDuel has announced the launch of Pass The Leg, a first-of-its-kind in-app feature that transforms traditional parlay betting into a shared, social experience just in time for holiday gatherings. Pass The Leg allows customers to build a single group parlay collaboratively, with each participant adding their own leg before placing individual bets using their own funds. Designed to bring friends and family together around one of the biggest football days of the year whether near or far, the feature allows users to start or join a Group Build, invite others to contribute picks, and then add the completed parlay to their personal betslip. Each contributor can also take advantage of a dedicated Pass The Leg Profit Boost, amplifying the excitement and potential payout of the shared pick. Available exclusively for the three NFL games taking place on Thanksgiving Day, Pass The Leg marks the first true multi-user parlay-building experience offered by a major U.S. sportsbook operator.

Partnerships

The St. Louis Blues announced an agreement designating DraftKings an Official Sports Betting and Daily Fantasy Operator of the Blues. The announcement comes ahead of the launch of legal sports betting in Missouri scheduled for Dec. 1, 2025. DraftKings has been an Official Sports Betting, Daily Fantasy Sports and iGaming Partner of the National Hockey League since 2021. As part of the agreement, DraftKings will spotlight responsible gaming through a pregame, in-arena feature, encouraging fans to play responsibly, have fun and access DraftKings’ comprehensive suite of responsible gaming tools and resources. DraftKings will have rights to use St. Louis Blues intellectual property — including team trademarks and logos — across marketing and promotional materials. The collaboration will feature in-arena signage, brand integrations across television and radio and exclusive hospitality experiences throughout the season, all designed to elevate fan engagement at the Enterprise Centre and beyond.

Signature Systems Inc (SSI) has announced a new partnership with Yellow Dog Software. The integration connects Yellow Dog’s advanced inventory capabilities with SSI’s PDQ POS system, enabling operators to streamline operations, improve cost control and gain real-time visibility across their properties. The partnership was initiated to meet the inventory needs of Osage Casinos, a major name in tribal gaming. The integration, which went live in September, was first deployed to support convenience store reporting and ordering across the properties.

The post Gaming Americas Weekly Roundup – November 24-30 appeared first on European Gaming Industry News.

American gambling industry

Gaming Americas Weekly Roundup – November 17-23

Published

1 week ago

November 25, 2025

Niji Narayan

gaming-americas-weekly-roundup-–-november-17-23

Reading Time: 2 minutes

Latest News

National Council on Problem Gambling (NCPG) Board of Directors has announced Heather L. Maurer, MA, CAE as the organisation’s next Executive Director, effective January 7, 2026. Maurer brings more than 25 years of leadership experience in the fields of public health, policy and nonprofit management. Most recently, she served as CEO of National Association of Nurse Practitioners in Women’s Health, where she led the organisation to its strongest financial position in more than a decade by expanding revenue streams, restructuring operations and building sustainable reserves to ensure long-term growth. As Executive Director, Ms. Maurer will lead NCPG’s strategic direction and oversee its national programmes, partnerships and advocacy initiatives. Her work will focus on strengthening NCPG’s advocacy presence and uniting affiliates, policymakers, industry leaders and community partners to advance policies that prevent gambling-related harm and expand access to support services.

Hard Rock Casino Tejon, developed in partnership with the Tejon Indian Tribe, officially opens to the public following a celebratory Guitar Smash ceremony marking a historic milestone as the first full-scale gaming and entertainment property in Kern County. Located 80 miles north of Los Angeles, the $600 million project is a multi-phase investment designed to transform the region through hospitality, entertainment and economic development. The destination has created more than 1000 permanent jobs and over 5000 construction-related roles, representing the largest private hospitality investment in Kern County’s history. Hard Rock Casino Tejon is expected to continue delivering lasting benefits for the local economy, tourism sector and community development across the Southern San Joaquin Valley. The opening was celebrated with Hard Rock’s iconic Guitar Smash Ceremony, symbolising a bold new beginning.

Partnerships

BetMGM announced that the company is now an official sports betting and online casino partner of the Pittsburgh Penguins. With this multi-year agreement, BetMGM holds partnerships with all three of Pittsburgh’s major professional sports teams. Key elements of the partnership include prominent BetMGM signage and branding throughout PPG Paints Arena, co-branded social media content, exclusive promotions and premium hospitality assets for VIP fan experiences. BetMGM also plans to introduce Penguins-themed iGaming products in the near future. As BetMGM continues to expand into new markets and introduce new features, responsible gaming remains a key focus. Additionally, BetMGM provides resources to help customers play responsibly including GameSense, an industry leading programme, developed and licensed to MGM Resorts by the British Columbia Lottery Corporation.

Hard Rock International and Seminole Gaming joined forces with nonprofit organisation Ocean Conservancy for the Global Sound Waves joint sustainability programme. This collaboration unites Hard Rock team members and communities worldwide with Ocean Conservancy’s mission of protecting the oceans by reducing waste and driving meaningful environmental change. The partnership, motivated by one of Hard Rock’s guiding mottos: Save the Planet, takes a proactive approach to ocean conservation by focusing on upstream waste management, addressing water, food and material waste to prevent it from polluting the ocean. Through comprehensive waste audits and data-driven analysis, Hard Rock and Ocean Conservancy identify diversion opportunities and implement alternatives that set meaningful waste reduction goals across Hard Rock’s global operations.

The post Gaming Americas Weekly Roundup – November 17-23 appeared first on European Gaming Industry News.

American gambling industry

Gaming Americas Weekly Roundup – November 3-9

Published

3 weeks ago

November 11, 2025

Niji Narayan

gaming-americas-weekly-roundup-–-november-3-9

Reading Time: 2 minutes

Latest News

Petroglyph Development Group (PDG), a wholly owned corporation of Snuneymuxw First Nation (Snuneymuxw), and Great Canadian Entertainment announced that they have entered into definitive agreements for the purchase by PDG from Great Canadian Entertainment of two casino businesses, River Rock Casino Resort and Chances Maple Ridge. Upon closing and subject to regulatory and other approvals, PDG is expected to become one of the largest casino operators by revenue in British Columbia, and anticipates being the largest Canadian Indigenous owned gaming operator by revenue in Canada, cementing Snuneymuxw as a leading force in the province’s gaming industry. Building on PDG’s recent acquisitions of Casino Nanaimo and Elements Casino Victoria earlier this year, these transactions demonstrate the strength of the collaboration between PDG and Great Canadian Entertainment and the momentum of PDG’s growing gaming platform.

Churchill Downs Incorporated (CDI) has announced the promotion of Michael Meagher to Senior Vice President of Gaming Operations, effective November 3, 2025. Meagher succeeds Maureen Adams, whose retirement was announced earlier this year. He will oversee operations at all gaming and HRM locations throughout the CDI portfolio, along with corporate gaming functions, including analytics, marketing and product performance. Meagher will report directly to Bill Mudd, President and Chief Operating Officer of CDI. Meagher has served as Vice President of Gaming Operations since 2022, where he oversaw nine gaming properties across CDI’s portfolio, including the development and successful grand opening of Terre Haute Casino Resort. In this role, he was instrumental in driving operational performance, enhancing guest experiences and supporting the Company’s continued growth in regional gaming markets.

Partnerships

Zoomd Technologies Ltd has announced that it has entered into a strategic partnership with E2-Quadrat communications GMBH (E2), a global leader in digital marketing and technology solutions for the sports and betting industry. With over two decades of experience in the industry, E2 has established itself as a trusted partner to some of the most prominent names in the sector. The privately owned company operates a broad international network of offices enabling it to serve clients on a truly global scale. This partnership is expected to enable E2’s current and future clients worldwide to benefit from Zoomd’s advanced user acquisition (UA) technologies and performance marketing expertise and aligns with Zoomd’s strategic focus on expanding its impact across high-growth verticals.

MyPrize, the fastest growing social gaming business in the US, has announced a strategic partnership with Crypto.com | Derivatives North America (CDNA), a CFTC-registered exchange and clearinghouse and an affiliate of Crypto.com, to launch MyPrize Markets, a first of its kind product allowing users to access social gaming and prediction markets for the first time in one unified platform. As Crypto.com’s first social gaming partner, MyPrize will leverage the company’s enterprise-grade infrastructure to deliver an engaging and intuitive prediction market experience to its massive global user base, now numbering over 1 million+. This strategic partnership continues MyPrize’s explosive growth in 2025 and further cements its market position as the leading social gaming and entertainment platform.

The post Gaming Americas Weekly Roundup – November 3-9 appeared first on European Gaming Industry News.