![]() ![]() Per our model, the company’s 2023 food and beverage and room revenues will likely witness growth of 7.6% and 7.4%, respectively, year over year.ĭevelopment Pipeline: Red Rock Resorts continues to focus on development projects to drive growth. With group business returning, the momentum will likely persist in the upcoming periods. Also, it reported growth in food and beverage and hotel segments fueled by higher average checks and strength in the catering business. Attributes such as strong and consistent visitation from guests (including a younger demographic), increased spending per visit, more time spent on gaming devices and the return of core customers are positives. Factors Driving Growthįavorable Trends: Red Rock Resorts benefits from a rise in visitation and strong spending per visit across its portfolio. Let us delve into the factors that highlight why investors should retain the stock for now. However, an uncertain macroeconomic environment and inflationary pressures are a concern. Also, the emphasis on the Durango development project bodes well. RRR will likely benefit from increased visitation, new amenities offering and repositioning of the land portfolio. ![]()
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