Red Rock Resorts Q2 Bottom-Line Lags Street View

Red Rock Resorts Inc (NASDAQ:RRR) reported a second-quarter FY22 sales decline of 1.4% year-on-year to $422.24 million, beating the consensus of $404.45 million.
Revenues from Las Vegas operations declined 1% to $420.1 million.
Selling, general and administrative expenses rose 7.3% to $90.2 million.
The operating margin was 16.2%, and operating income for the quarter fell 59.5% to $68.2 million.
The company held $256.3 million in cash and equivalents as of June 30, 2022.
Adjusted EBITDA decreased 10% Y/Y to $188.9 million.
EPS of $0.26 missed the analyst consensus of $0.54.
The company's Board of Directors has declared a cash dividend of $0.25 per share, payable on September 30, 2022, to stockholders of record on September 15, 2022.
Price Action: RRR shares closed lower by 1.49% at $40.25 on Tuesday.