NewsWorld
Red Rock Resorts Reports Net Loss in Third Quarter
Red Rock Resorts increased its revenue in the third quarter but reported a net loss due to share-based compensation linked to its 50th anniversary stock awards.
Red Rock Resorts recorded a revenue increase in the third quarter, but reported a net loss for the quarter. The main cause of the loss was a share-based compensation expense of $79.1 million related to stock awards the company granted this quarter as part of its 50th anniversary.
The company's third-quarter revenue came to $488.7 million. Revenue rose by $13.1 million, or 2.8 percent.
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