Red Rock Resorts, Inc. (RRR) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the Red Rock Resort's first quarter 2026 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal conference specialists by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. And to withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Mr. Stephen Coote, Executive Vice President, Chief Financial Officer, and Treasurer of Red Rock Resorts. Please go ahead. Thank you, Operator, and good afternoon, everyone. Thank you for joining us today for Red Rock Resorts' first quarter 2026 earnings conference call. Joining me on the call today are Frank and Lorenzo Fertitta, Scott Krieger, and our Executive Management Team. I'd like to remind everyone that our call today will include forward-looking statements under the Safe Harbor provisions of the United States federal securities laws. Developments and results may differ from those projected. During this call, we will also discuss non-GAAP financial measures. For definitions and complete reconciliation of these figures to GAAP, please refer to the financial tables in our earnings press release, Form 8K, and investor deck, which were filed this afternoon prior to the call. Also, please note that this call is being recorded. Let's start by noting that the first quarter represented another strong quarter for the company across all key measures. Our Las Vegas operations delivered the highest first quarter net revenue and the second highest first quarter adjusted EBITDA in our history, while maintaining near record adjusted EBITDA m...