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Red Rock Resorts Inc. (RRR) CEO Frank Fertitta on Q4 2021 Results - Earnings Call Transcript

Feb. 02, 2022 7:55 PM ETRed Rock Resorts, Inc. (RRR)
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Red Rock Resorts Inc. (NASDAQ:RRR) Q4 2021 Earnings Conference Call February 2, 2022 4:30 PM ET

Company Participants

Stephen Cootey - EVP, CFO & Treasurer

Frank Fertitta - CEO

Lorenzo Fertitta - Vice Chairman

Conference Call Participants

Joe Greff - JPMorgan

Carlo Santarelli - Deutsche Bank

Shaun Kelley - Bank of America

Stephen Grambling - Goldman Sachs

Barry Jonas - Truist Securities

Dan Politzer - Wells Fargo

Chad Beynon - Macquarie


Good afternoon, and welcome to Red Rock Resorts Fourth Quarter 2021 Conference Call. All participants will be in a listen-only mode. Please note this conference is being recorded.

I would now like to turn the conference over to Stephen Cootey, Executive Vice President, Chief Financial Officer and Treasurer of Red Rock Resorts. Please go ahead.

Stephen Cootey

Thank you, operator, and good afternoon, everyone. Thank you for joining us today for Red Rock Resorts fourth quarter and full year 2021 earnings conference call. Joining me on the call today are Frank and Lorenzo Fertitta as well as our executive management team.

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. Developments and results may differ from those projected.

During this call, we will also discuss non-GAAP financial measures. For definitions and 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. Also, please note that this call is being recorded.

Now let's take a look at our fourth quarter and full year results. On a consolidated basis, when excluding great management fees, our fourth quarter net revenue was $422.4 million, up 32.9% from $317.8 million in the prior year's fourth quarter.

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