With respect to our Las Vegas operations, third quarter net revenue was $408 million, down $3.6 million from the prior year's third quarter. Now let's take a look at our third quarter results. In executing this strategy, the team delivered another strong quarter across all business lines, this quarter, marking the 13th consecutive quarter that the company delivered adjusted EBITDA margins in excess of 45%.Īnd through the first nine months of the year, the company remains on pace to have the best financial year in the history of our company. Team continued to validate our core strategy of reinvesting in our properties to deliver fresh and relevant amenities to our guests, while remaining focused on best-in-class customer service. The quarter represented our third best third quarter in the history of the company in terms of same-store net revenue, adjusted EBITDA and adjusted EBITDA margin only surpassed by the unprecedented third quarters of 20. Before we get into any of the details, similar to our financial and operating results in the first half of the year, the third quarter represented another strong quarter for the company. Definitions and a complete reconciliation of these figures to GAAP, please refer to the financial tables in our earnings press release, Form 8-K and investor deck, which were filed this afternoon prior to the call.Īlso, please note that this call is being recorded.

During this call, we will also discuss non-GAAP financial measures.

Developments and results may differ from those projected. 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. Joining me on the call today are Frank and Lorenzo Fertitta, Scott Kreger, our executive management team. Thank you for joining us today on Red Rock Resorts third quarter 2023 earnings conference call. Stephen Cootey: Thank you, operator, and good afternoon, everyone. I would now like to turn the conference over to Stephen Cootey, Executive Vice President, Chief Financial Officer and Treasurer of Red Rock Resort. Please note, this conference is being recorded. All participants will be in a listen-only mode.

Operator: Good afternoon, and welcome to Red Rock Resorts Third Quarter 2023 Conference Call. Reported EPS is $0.6, expectations were $0.38. (NASDAQ: RRR) Q3 2023 Earnings Call Transcript November 7, 2023

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