Red Rock Resorts, Inc. (RRR) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Las Vegas operations	1,651.0	1,602.4	1,094.4	1,758.8	1,588.0	1,518.4	1,359.5	1,258.2
Native American management	5.3	17.5	163.4	182.7	174.6	236.4		88.3
Corporate and other	97.6	83.9	62.8	113.5	106.9	98.7	5.3	5.7
Other							111.0
Total revenues [+]	1,663.8	1,617.9	1,182.4	1,856.5	1,681.0	1,642.1	1,475.8	1,352.1
Food & beverage							330.5	251.2
Casino							814.2	922.2
Room / occupancy							145.8	122.9
Management fees							111.5	88.9
Other							73.7	69.7
Promotional allowances								-102.7
Revenue growth [+]	2.8%	36.8%	-36.3%	10.4%	2.4%	11.3%	9.1%	4.7%
Las Vegas operations	3.0%	46.4%	-37.8%	10.8%	4.6%	11.7%	8.1%	3.3%
Native American management	-69.8%	-89.3%	-10.6%	4.6%	-26.1%			29.5%
Corporate and other	16.3%	33.5%	-44.6%	6.1%	8.3%	1766.4%	-6.4%	2.2%
Cost of goods sold [+]	621.1	711.5	537.8	1,032.0	612.0	697.0	656.7	582.2
Food and beverage costs							291.2	162.7
Occupancy costs							61.4	46.6
Casino costs							273.4	347.5
Other direct costs							30.7	25.5
Gross profit	1,042.7	906.4	644.6	824.6	1,069.1	945.1	819.0	769.9
Gross margin	62.7%	56.0%	54.5%	44.4%	63.6%	57.6%	55.5%	56.9%
Selling, general and administrative	353.0	347.1	324.6	416.4	390.5	380.9	327.3	327.9
Equity in earnings	3.5	3.3	1.1	1.9	2.2	1.6	1.9	0.8
Other operating expenses	-80.0	-177.7			18.6	5.3	-5.4	2.6
EBITDA [+]	773.2	740.3	321.1	410.1	662.2	560.5	499.0	440.3
EBITDA growth	4.4%	130.6%	-21.7%	-38.1%	18.1%	12.3%	13.4%	7.6%
EBITDA margin	46.5%	45.8%	27.2%	22.1%	39.4%	34.1%	33.8%	32.6%
Depreciation	126.8	156.0	223.8	213.6	169.7	158.3	137.9	119.5
EBITA	646.4	584.3	97.2	196.5	492.5	402.2	361.2	320.7
EBITA margin	38.9%	36.1%	8.2%	10.6%	29.3%	24.5%	24.5%	23.7%
Amortization of intangibles	1.6	1.8	7.5	8.6	10.6	19.9	18.8	18.3
EBIT [+]	644.8	582.5	89.7	187.9	481.9	382.3	342.4	302.4
EBIT growth	10.7%	549.5%	-52.3%	-61.0%	26.1%	11.7%	13.2%	9.1%
EBIT margin	38.8%	36.0%	7.6%	10.1%	28.7%	23.3%	23.2%	22.4%
Non-recurring items [+]	80.0	177.7			107.5	49.4	30.7	14.4
Asset impairment					107.5	49.4	30.7	14.4
Interest expense	129.9	103.2	128.5	156.7	143.1	131.4	140.2	144.5
Interest expense	129.9	103.2	128.5	156.7	143.1	131.4	140.2	144.5
Other income (expense), net [+]		-16.1	-21.7	-39.7	12.1	-3.2	-7.2	-0.1
Asset impairment charges						1.8		6.3
Gain (loss) on debt retirement		-13.5	-0.2	-19.9		-16.9	-7.3	-0.1
Unrealized gain/loss on derivatives		-0.2	-21.6	-19.5	12.4	14.1	0.1	0.0
Other non-ooperating expenses		-2.4	-0.3	-0.3	-0.4	-0.4	0.0
Other		2.4	0.3	0.3	0.4	0.4
Pre-tax income	434.9	285.5	-60.5	-8.5	243.4	198.3	164.2	143.4
Income taxes	44.5	-69.3	114.1	-1.7	23.9	134.8	8.2	0.0
Tax rate	10.2%			20.5%	9.8%	68.0%	5.0%	0.0%
Minority interest	184.9	113.0	-24.1	-3.4	61.9	28.1	64.0	5.6
Earnings from continuing ops	205.5	241.9	-150.4	-3.4	157.5	35.4	92.0	281.2
Earnings from discontinued ops								-0.2
Net income	205.5	241.9	-150.4	-3.4	157.5	35.4	92.0	281.1
Net margin	12.3%	14.9%	-12.7%	-0.2%	9.4%	2.2%	6.2%	20.8%

Basic EPS [+]	$3.48	$3.50	($2.13)	($0.05)	$2.28	$0.53	$2.69	$28.44
Growth	-0.5%	-264.2%	4326.0%	-102.1%	333.7%	-80.5%	-90.5%	2.6%
Diluted EPS [+]	$1.96	$2.08	($2.13)	($0.05)	$1.35	$0.31	$2.68	$28.44
Growth	-5.5%	-197.4%	4326.0%	-103.6%	341.2%	-88.6%	-90.6%	2.6%

Dividends per share [+]	$1.00	$3.00	$0.10	$0.40	$0.40	$0.40	$3.61
Growth	-66.7%	2796.2%	-74.2%	0.1%	0.1%	-88.9%

Shares outstanding (basic) [+]	59.0	69.1	70.5	69.6	69.1	67.4	34.1	9.9
Growth	-14.6%	-2.1%	1.4%	0.7%	2.5%	97.4%	245.3%	0.0%
Shares outstanding (diluted) [+]	104.7	116.5	70.5	69.6	116.9	115.9	34.3	9.9
Growth	-10.1%	65.1%	1.4%	-40.5%	0.8%	238.1%	246.7%	0.0%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.