Record-Breaking Financial Performance
Las Vegas operations delivered its highest quarterly net revenue and adjusted EBITDA in the company's 49-year history. Net revenue was $513.3 million, up 6.2% from the prior year, and adjusted EBITDA was $239.4 million, up 7.3%. Adjusted EBITDA margin was 46.7%, an increase of 47 basis points.
Durango Casino Resort Success
Since opening in December 2023, Durango has added over 108,000 new customers to the database and is on pace to become one of the highest margin properties, with a return net of cannibalization of over 15% through Q2 2025.
Strong Free Cash Flow Generation
Converted 54% of adjusted EBITDA into operating free cash flow, generating $124.3 million or $1.18 per share. Year-to-date cumulative free cash flow is $217.3 million or $2.06 per share.
Positive Customer and Database Growth
Strong growth in VIP, core customer, regional, and national segments. Significant improvement in retail customer numbers and a 15% increase in the under-35 demographic.
Successful Capital Return to Shareholders
Returned approximately $189 million to shareholders year-to-date through dividends and share repurchases.