Red Rock Posts Record Vegas Revenue Despite Loss
Durango North's budget rose to $430 million, with the expansion expected to open in the second half of 2027.
Updated on Nov. 4, 2026 in Casino
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Las Vegas Valley residents who work at or near Red Rock Resorts' properties will see a company that posted record third-quarter Las Vegas revenue but a net loss. The company reported $488.7 million in total net revenue, while a $17.7 million loss was driven largely by stock-based payouts to team members.
Why it matters
The loss reflects $79.1 million in share-based compensation tied to the company's 50th anniversary stock awards, not a drop in operations. The Durango North expansion's rising budget and the Sunset Station openings show the company is still investing heavily in the valley's west side as it grows.
Las Vegas operations brought in $479.1 million in third-quarter net revenue, up 2.3 percent from a year earlier, while total company revenue reached $488.7 million. The company's $17.7 million net loss compares with $76.9 million in net income in the third quarter of 2025, and the Durango North expansion's budget rose from $385 million to $430 million.
The players
Red Rock Resorts
The Las Vegas-based gaming company that reported the third-quarter results and is developing the Durango North expansion and Sunset Station amenities.
The details
Red Rock Resorts reported its results during its third-quarter earnings call, citing $79.1 million in share-based compensation tied to 50th anniversary stock awards as the main cause of the loss. The company granted more than $72 million in Class A common stock to full-time and part-time team members, and the Durango property added more than 168,000 new customers to its database. The Durango North expansion will add more than 275,000 square feet, 400 slot machines, a bingo room and a keno lounge, and is anticipated to open in the second half of 2027. Sunset Station restaurants and a bingo room are expected to open later this quarter, and remaining Sunset Station amenities are expected to be completed by mid-2027.
Timeline
Q3 2025: Prior-year third quarter net income of $76.9 million was reported.
Q3 2026: Third-quarter results were reported and the 50th anniversary stock awards were issued.
Later this quarter (Q4 2026): Sunset Station restaurants and bingo room are expected to open.
Second half of 2027: The Durango North expansion is anticipated to open.
Mid-2027: Remaining Sunset Station amenities are expected to be completed.
Beyond the Strip
Red Rock's third-quarter loss reverses the $76.9 million profit it reported in the same quarter of 2025. The Las Vegas revenue increase of 2.3 percent, with the company's record third-quarter Las Vegas revenue, shows the locals-focused casino business continuing to grow even as the loss makes headlines.
If you live in Summerlin or near the Durango area, the Sunset Station restaurants and bingo room opening this quarter will give you new options closer to home. The Durango North expansion will bring 400 more slot machines and a keno lounge when it opens in the second half of 2027.
The takeaway
The third-quarter loss came from one-time stock awards, while the Las Vegas operations grew, so the company's underlying business is still expanding. Watch for the Sunset Station restaurant and bingo room openings later this quarter as the first visible sign of the next phase.
What happens next
Sunset Station restaurants and the bingo room are expected to open later this quarter, with remaining amenities due by mid-2027 and the Durango North expansion anticipated in the second half of 2027.
Further reading
For more on the local gaming industry, explore our Casino coverage across the valley.
Source note: This article includes information reported by Las Vegas Review-Journal.
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