11/24/2023 0 Comments Red rock casino demographicRed Rock’s net revenues were $353.2 million in the third quarter, down 24 percent from $465.9 million in the same period last year. “The shutdown gave us the ability to question everything we were doing and to be very cautious reopening.” “We believe there’s a permanent reduction in the cost of operating business,” said Frank Fertitta III, chairman and CEO. That could mean fewer low-margin amenities, such as buffets. ![]() The success the company has found amid the pandemic and casino shutdowns has led its executives to reconsider its long-term operations. Margins for earnings before interest, taxes, depreciation, and amortization margins increased more than 2,000 basis points to 44.2 percent for the quarter. The parent company of Station Casinos, Red Rock’s net income was $72 million in the third quarter, up from a net loss of $26.8 million the same time last year. to report the highest margins of any quarter in its history. Streamlined operations and strong demand from a younger demographic have allowed Red Rock Resorts Inc. The Texas Station in Las Vegas is seen in this July 16, 2020, file photo.
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