November 3, 2026 - 4:28 pm

Red Rock Resorts reported the highest third-quarter net revenue in company history for its Las Vegas operations on Tuesday during its third-quarter earnings call. But the parent company of Station Casinos took a net loss for the quarter.

Net revenues were $479.1 million for its Las Vegas operations, up 2.3 percent year over year, and $488.7 million overall, an increase of 2.8 percent from the same period of 2025. The net loss was $17.7 million, a decrease of $94.6 million from net income of $76.9 million in last year’s third quarter.

The massive drop was mostly the result of $79.1 million in share-based compensation expense related to the Las Vegas-based company’s 50th anniversary stock awards issued in the third quarter and $6.9 million of one-time expenses related to the anniversary.

“As part of our 50th anniversary celebration, we were especially proud to make every full-time and part-time team member an owner of our company through the grant of more than $72 million in…