Red Rock Resorts, Inc. (RRR) has reported 56.60 percent plunge in profit for the quarter ended Sep. 30, 2016. The company has earned $8.27 million, or $0.20 a share in the quarter, compared with $19.06 million, or $0.21 a share for the same period last year.

Revenue during the quarter grew 7.28 percent to $347.14 million from $323.60 million in the previous year period. Gross margin for the quarter contracted 26 basis points over the previous year period to 57.65 percent. Total expenses were 78.87 percent of quarterly revenues, down from 82.44 percent for the same period last year. This has led to an improvement of 357 basis points in operating margin to 21.13 percent.

Operating income for the quarter was $73.35 million, compared with $56.82 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $109.02 million compared with $95.85 million in the prior year period. At the same time, adjusted EBITDA margin improved 178 basis points in the quarter to 31.41 percent from 29.62 percent in the last year period.

"Red Rock Resorts delivered an excellent quarter, as strong trends in both our casino and non-casino segments helped produce our highest year-over-year revenue growth in Las Vegas in over four years," said Marc J. Falcone, executive vice president, chief financial officer and Treasurer. "We believe this recent growth demonstrates the strong underlying fundamentals of the Las Vegas market, which continues to experience broad-based growth."