Let’s dig into the relative performance of Red Rock Resorts (NASDAQ: RRR) and its peers as we unravel the now-completed Q3 casino operator earnings season.

Casino operators enjoy limited competition because gambling is a highly regulated industry. These companies can also enjoy healthy margins and profits. Have you ever heard the phrase ‘the house always wins’? Regulation cuts both ways, however, and casinos may face stroke-of-the-pen risk that suddenly limits what they can or can't do and where they can do it. Furthermore, digitization is changing the game, pun intended. Whether it’s online poker or sports betting on your smartphone, innovation is forcing these players to adapt to changing consumer preferences, such as being able to wager anywhere on demand.

The 11 casino operator stocks we track reported a slower Q3. As a group, revenues beat analysts’ consensus estimates by 1.9%.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Red Rock Resorts (NASDAQ: RRR)

Founded in 1976, Red Rock Resorts (NASDAQ: RRR) operates a range of casino resorts and entertainment properties, primarily in the Las Vegas metropolitan area.

Red Rock Resorts reported revenues of $475.6 million, up 1.6% year on year. This print fell short of analysts’ expectations by 0.8%. Overall, it was a mixed quarter for the company with a beat of analysts’ EPS estimates but a miss of analysts’ Hotel revenue estimates.

Interestingly, the stock is up 6.4% since reporting and currently trades at $63.03.

Is now the time to buy Red Rock Resorts? Access our full analysis of the earnings results here, it’s free.

Best Q3: Super Group (NYSE: SGHC)

With betting operations spanning 20 jurisdictions and attracting nearly 5 million monthly customers, Super Group (NYSE: SGHC) operates global online sports betting and gaming platforms through its two primary offerings: the Betway sports betting brand and Spin multi-brand casino portfolio.

Super Group reported revenues of $557 million, up 25.7% year on year, outperforming analysts’ expectations by 9.2%. The business had an incredible quarter with an impressive beat of analysts’ EBITDA estimates.

Super Group delivered the fastest revenue growth among its peers. The company added 11,666.667 customers to reach a total of 5.51 million. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 18% since reporting. It currently trades at $9.94.

Is now the time to buy Super Group? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: MGM Resorts (NYSE: MGM)

Operating several properties on the Las Vegas Strip, MGM Resorts (NYSE: MGM) is a global hospitality and entertainment company known for its resorts and casinos.

MGM Resorts reported revenues of $4.25 billion, up 1.6% year on year, in line with analysts’ expectations. It was a disappointing quarter as it posted a miss of analysts’ Hotel revenue estimates and a significant miss of analysts’ adjusted operating income estimates.

Interestingly, the stock is up 13% since the results and currently trades at $35.

Read our full analysis of MGM Resorts’s results here.

PENN Entertainment (NASDAQ: PENN)

Established in 1982, PENN Entertainment (NASDAQ: PENN) is a diversified American operator of casinos, sports betting, and entertainment venues.

PENN Entertainment reported revenues of $1.72 billion, up 4.8% year on year. This number lagged analysts' expectations by 0.5%. Overall, it was a disappointing quarter as it also logged a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.

The stock is down 13.1% since reporting and currently trades at $14.20.

Read our full, actionable report on PENN Entertainment here, it’s free.

Monarch (NASDAQ: MCRI)

Established in 1993, Monarch (NASDAQ: MCRI) operates luxury casinos and resorts, offering high-end gaming, dining, and hospitality experiences.

Monarch reported revenues of $142.8 million, up 3.6% year on year. This print missed analysts’ expectations by 1.7%. Zooming out, it was a mixed quarter as it also recorded a beat of analysts’ EPS estimates but a miss of analysts’ Dining revenue estimates.

Monarch had the weakest performance against analyst estimates among its peers. The stock is down 7.1% since reporting and currently trades at $90.33.

Read our full, actionable report on Monarch here, it’s free.

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