Red Rocks Resorts tops estimates despite a drop in casino revenue

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Red Rock Resorts (NASDAQ:RRR) slipped in postmarket trading on Tuesday after the casino operator posted its Q4 earnings report.

Revenue edged up 0.7% during the quarter to $425.5M to edge past the consensus estimate of $422.2M. Revenue from Las Vegas showed a drop of 0.2% in Q4. A drop in casino revenue across the company was offset by higher food/beverage revenue and higher room revenue.

Adjusted EBITDA was up 25% to $194.4M. Operating income was $222.4M vs. $162.2M a year ago.

On the balance sheet, Red Rocks ended the quarter with cash of $117.3M and total principal amount of debt outstanding of $3.0B.

Shares of Red Rock Resorts (RRR) fell 2.25% postmarket to $47.39 vs. the 52-week trading range of $30.30 to $53.09.