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Red Rock Resorts Announces Third Quarter 2020 Results

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Red Rock Resorts, Inc. reported financial results for the third quarter ended September 30, 2020.

During the third quarter the Company continued to execute on its phased reopening program, and operated its first-to-reopen properties of Red Rock, Green Valley Ranch, Santa Fe Station, Boulder Station, Palace Station and Sunset Station, together with its Wildfire properties and the Graton Casino Resort.

Third Quarter Results:

Net revenues were $353.2 million for the third quarter of 2020, a decrease of 24.2%, or $112.7 million, from $465.9 million for the same period of 2019, primarily due to the ongoing impacts of the COVID-19 pandemic.
Net income was $72.0 million for the third quarter of 2020, an increase of $98.8 million, from a net loss of $26.8 million for the same period of 2019.
Adjusted EBITDA(1) was $160.9 million for the third quarter of 2020, an increase of 44.8%, or $49.8 million, from $111.1 million in the same period of 2019.

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Las Vegas Operations

Net revenues from Las Vegas operations were $320.8 million for the third quarter of 2020, a decrease of 27.2%, or $119.9 million, from $440.7 million in the same period of 2019, primarily due to the ongoing impacts of the COVID-19 pandemic.
Adjusted EBITDA from Las Vegas operations was $141.7 million for the third quarter of 2020, an increase of 38.6%, or $39.4 million, from $102.2 million in the same period of 2019.

Native American Management

Adjusted EBITDA from Native American operations was $29.8 million for the third quarter of 2020, a 33.9% increase from $22.3 million in the same period of 2019.

Balance Sheet Highlights

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The Company’s cash and cash equivalents at September 30, 2020 were $108.9 million and total principal amount of debt outstanding at the end of the third quarter was $3 billion.

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BetConstruct

BetConstruct to Help Partners Acquire Tobique Gaming Licence

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Online gaming industry veterans BetConstruct announce that they are now able to assist partners in acquiring the prestigious Tobique Gaming Licence.

Issued by the Tobique First Nation of New Brunswick, Canada, the Tobique Gaming Licence provides a gateway in the form of vigorous regulatory framework and responsible gaming practices. The licence is overseen by the Tobique Gaming Commission. Operators holding the Tobique Gaming Licence are required to be in full compliance with local regulations, amounting to increased trust between markets and operators.

 

Here’s Why Operators Need the Tobique Licence:

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  • Entry to new and emerging markets: Operators holding the licence will be able to expand their reach into diverse local markets, all while remaining compliant with regulations. This will allow them to acquire a wider customer base.
  • Upholding responsible gaming: With responsible gaming being of high importance in the industry, the Tobique licence helps operators foster a secure gaming environment, highlight the significance of responsible practices, and enhance customer trust.
  • Favourable tax policy: Operators holding a Tobique licence benefit from exemptions on various taxes and levies related to gaming activities, allowing for substantial profit growth while in full compliance with relevant regulations.
  • Streamlined payment and supplier risk management: The licence ensures faster onboarding processes while maintaining confidence in the jurisdiction’s robust controls.

 

Additional Benefits of Holding the Tobique Licence:

  • Easy application process through an online portal with fast processing times.
  • A dedicated team of professionals readily available for timely assistance.
  • Minimal application and maintenance fees (with no taxes).
  • No requirements for local company presence, personnel, or infrastructure in the jurisdiction.

As a reputable company, BetConstruct remains committed to endorsing regulatory policies and championing responsible gaming. Through collaborating with the Tobique First Nation, the company is eager to aid partners in upholding regulatory compliance, particularly within the framework of entering new markets. This amounts to a safer industry for all involved

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Canada

Relax Gaming joins forces with PointsBet to strengthen footprint in Ontario

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Relax Gaming, the iGaming aggregator and supplier of unique content, has significantly enhanced its presence in the Ontario market through an agreement with leading Canadian operator, PointsBet.

This partnership reinforces Relax Gaming’s aim to become a standout provider across North America, having already gained early success in Ontario. Relax became one of the first suppliers to deliver content to the region’s players in March 2022, debuting with over 120 games across multiple operators.

PointsBet pride themselves as one of Canada’s leading operators offering unmatched speed, ease of use, and a comprehensive array of pre-game and in-play sports betting options. This is complemented by a top-tier online casino which will now be boosted with the integration of Relax’s portfolio of slots and live dealer options.

With its authentic Canadian approach, PointsBet prioritises technology that minimises external dependencies to maintain control over its platform and has a commitment to responsible gambling best practices, ensuring a safe and secure environment for all players.

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Martin Stålros, CEO at Relax Gaming, said: “Since we launched in Ontario we have enjoyed tremendous success, with our content hitting the sweet spot for the broad range of players in the Canadian province. This partnership with PointsBet will strengthen our presence in the market as the region’s leading operator integrates our rich content portfolio which will engage its player base.”

Scott Vanderwel, Chief Executive Officer at PointsBet, added: “Relax Gaming has established a strong reputation across North America and in Ontario in particular. The impressive range of content that will be integrated into our platform will increase engagement within our online platform and we are delighted to be able to provide more immersive experiences to our audiences.”

Established as one of the industry’s leading B2B suppliers, Relax Gaming was awarded GGA’s Product Launch of the Year in February 2023 for Dream Drop Jackpots. Money Train 3 names the 2023 CasinoBeats Game Developer Awards amongst its 6 Slot of the Year titles, while the brand also won the award for Skill Games Supplier at the 2023 EGR B2B Awards along with the Innovation in Mobile award at the 2023 SBC Awards.

Relax Gaming provides more than 4,000 online casino games, from its high-performing proprietary slots to a significant, varied library of content from hand-picked third-party studios via its partnership programmes.

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Canada

Jackpot Digital Receives Approval from the Saskatchewan Liquor and Gaming Authority

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Jackpot Digital, a leading manufacturer of electronic multiplayer dealerless poker tables, has announced that it has received approval from the Saskatchewan Liquor and Gaming Authority (SLGA) to act as a registered supplier of gaming supplies and services to regulated casinos in the Canadian province of Saskatchewan.

The approval follows the Company’s news release dated February 6, 2024, announcing the signing of a licensing agreement with the Saskatchewan Indian Gaming Authority (SIGA) to install the Company’s Jackpot Blitz dealerless poker ETGs into SIGA casinos.

SIGA operates seven casinos and Playnow.com in Saskatchewan. At the outset, SIGA proposes to install Jackpot Blitz machines at its Dakota Dunes and Gold Horse Casino properties, located in Saskatoon and Lloydminster, respectively.

Jackpot CEO Jake Kalpakian said: “We are excited to receive approval as a gaming equipment supplier in Saskatchewan. This represents the first major jurisdictional, non-tribal license received by Jackpot during our continuing expansion into the land-based casino market. We have many more license applications underway in the US and other Canadian provinces, which will dramatically impact our ability to accelerate the rollout of Jackpot Blitz across North America.”

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