Filing Flows › Red Rock Resorts (RRR) › Q3 2025
Red Rock Resorts (RRR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Red Rock Resorts (RRR) reported revenue of $476M for the third quarter 2025 (Q3 2025), +2% from a year earlier and -10% from the quarter before. Operating margin was 27.6%, net earnings $42.3M (8.9% of revenue).
Red Rock Resorts, Q3 2025: revenue $476M (+2% year over year), operating margin 27.6%, net earnings $42.3M, operating cash flow $168M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $476M | -10% | +2% |
| Operating profit | $131M | -22% | +0.6% |
| Net earnings | $42.3M | -25% | +46% |
| Operating cash flow | $168M | +6% | +28% |
| Free cash flow | $74.6M | -7% | +47% |
What changed
Revenue was $475.6M in Q3 2025, up 2% year over year and down 10% from the previous quarter. Casino was the largest line at 67% of revenue. Casino added $5.3M year over year (up 2%), 70% of the total change. Room declined 8%.
Operating profit was $131.5M, a 27.6% margin (down 0.3 points year over year). Of the extra revenue versus a year earlier, 11% reached operating profit, below the 28% margin then. Total costs grew 2% against revenue growth of 2%. Net earnings were $42.3M, up 46% year over year. The effective tax rate was 7.9%.
Operating cash flow was $168.3M (up 28% year over year), 219% of net income including minority interests. Non-cash charges added back $49.0M of depreciation and amortization and $7.3M of share-based compensation. Working capital and other items added $35.1M. Capital expenditures of $93.7M left free cash flow of $74.6M.
Questions
What was Red Rock Resorts' revenue in the third quarter 2025?
Red Rock Resorts (RRR) reported revenue of $476M for the third quarter 2025 (Q3 2025), +2% from a year earlier and -10% from the quarter before.
Was Red Rock Resorts profitable in the third quarter 2025?
Operating profit was $131M (27.6% of revenue) and net earnings $42.3M.
Source: Red Rock Resorts 10-Q on SEC EDGAR.