![]() The company pulled in $118 million in net income against a $27 million net loss for these same periods. In Q3 2021, the company earned $143 million in operating income against just $48 million in Q3 2019. ![]() Because of this, top-line revenue remains under 2019 levels however, gross profit, operating profit, and net income are far outpacing any point in recent history. Red Rock Resorts management used the pandemic as a chance to focus on the company's core and most profitable offering: gambling. After casinos reopened in 2020, those catering to local populations quickly returned to form. New variants and travel restrictions or fears are still major risk factors for casino operators. The focus on locals also comes with less risk from travel restrictions due to COVID-19. In addition, 90% of the Las Vegas population lives within five miles of a Red Rock Resorts-owned casino. Many people may not know that the Las Vegas Locals market, casinos that are off The Strip, is larger than all of New Jersey, the next largest market.Īccording to Red Rock Resorts, the Las Vegas Locals market was worth more than $2.7 billion over a 12-month period ending September 2021 compared to just $2.4 billion for New Jersey, which includes Atlantic City.
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