DISCLAIMER This presentation includes certain non-GAAP financial measures, including Adjusted EBITDA and Adjusted EBITDA Margin. Non -GAAP financial measures such as Adjusted EBITDA and Adjusted EBITDA Margin should be considered only as supplemental to, and not as superior to, financial measures pr epared in accordance with GAAP. Please refer to the Annex A of this presentation for a reconciliation of the non-GAAP financial measures included in this presentation to the most directly comparable financial me ...

Red Rock Resorts, Inc. (NASDAQ:RRR) Q2 2023 Earnings Conference Call August 3, 2023 4:30 PM ET Company Participants Stephen Cootey - EVP, CFO and Treasurer Scott Kreeger - President Lorenzo Fertitta - Vice Chairman Conference Call Participants Joe Greff - JPMorgan Carlo Santarelli - Deutsche Bank Steve Wieczynski - Stifel Dan Politzer - Wells Fargo Chad Beynon - Macquarie David Katz - Jefferies Operator Good afternoon, and welcome to Red Rock Resorts Second Quarter 2023 Conference Call. All participants wil ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 RED ROCK RESORTS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) For the quarterly period ended March 31, 2023 (I.R.S. Employer OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the trans ...

Red Rock Resorts, Inc. (NASDAQ:RRR) Q1 2023 Earnings Conference Call May 4, 2023 4:30 PM ET Company Participants Stephen Cootey - Executive Vice President, Chief Financial Officer and Treasurer, Red Rock Resorts, Inc. Scott Kreeger – President, Red Rock Resorts, Inc. Lorenzo Fertitta - Vice Chairman Frank Fertitta - Chairman and Chief Executive Officer, Red Rock Resorts, Inc. Conference Call Participants Joe Greff - JP Morgan Carlo Santarelli - Deutsche Bank Shaun Kelley - Bank of America Jordan Bender - J ...

Financial Performance - Net revenues for the year ended December 31, 2022, increased by $45.9 million to $1.66 billion, a growth of 2.8% compared to 2021[249]. - Operating income rose by 39.8% to $561.3 million for 2022, up from $401.5 million in 2021[250]. - For the year ended December 31, 2022, net revenues increased to $1.66 billion, up from $1.62 billion in 2021, representing a year-over-year growth of 2.5%[265]. - Adjusted EBITDA for the year ended December 31, 2022, was $743.9 million, slightly up from $741.0 million in 2021, indicating a stable operating performance[265]. - Interest expense, net, for the year ended December 31, 2022, was $129.9 million, a 25.9% increase from $103.2 million in 2021, primarily due to higher variable interest rates[261]. - Net cash provided by operating activities for the year ended December 31, 2022, was $542.2 million, a decrease of 11.1% from $610.0 million in 2021[284]. Revenue Breakdown - Casino revenues decreased by 1.4% to $1.13 billion in 2022, while food and beverage revenues increased by 15.3% to $283.1 million[247][249]. - Room revenues increased by 14.3% to $164.5 million, with room expenses decreasing by 6.0%[253]. - The average daily rate (ADR) improved by 18.2% to $179.88, and revenue per available room increased by 30.9% to $149.34[253]. Expenses and Costs - SG&A expenses increased by 1.7% to $353.0 million, remaining effectively flat as a percentage of net revenue[256][257]. - Depreciation and amortization expenses decreased to $128.4 million from $157.8 million in 2021, primarily due to the sale of Palms and the closure of certain properties[258]. - The company is experiencing inflationary pressures, particularly in food, supplies, and labor costs, and is implementing cost controls to mitigate these impacts[292]. Capital Expenditures and Investments - Cash paid for capital expenditures in 2022 totaled $328.6 million, significantly higher than $61.3 million in 2021, reflecting investments in the Durango project[285]. - The company plans to allocate approximately $550.0 million to $600.0 million for investment capital expenditures in 2023, including the Durango project[275]. Shareholder Actions - A quarterly cash dividend of $0.25 per share of Class A common stock was declared on February 7, 2023, to be paid on March 31, 2023[278]. - The company repurchased 3.7 million shares of Class A common stock for an aggregate price of $141.5 million during the year ended December 31, 2022[280]. - The company repurchased approximately 3.7 million shares of Class A common stock for $141.5 million during the year ended December 31, 2022, with a remaining repurchase authorization of $312.9 million[280]. Debt and Financing - The company had outstanding letters of credit totaling $29.4 million as of December 31, 2022[291]. - The company expects to fund its capital requirements through a combination of cash generated from operations, borrowings, and issuance of debt or equity, but acknowledges potential impacts from competition and economic conditions[281]. - An assumed 1% increase in variable interest rates would lead to an annual interest cost increase of approximately $18.0 million based on outstanding borrowings at December 31, 2022[277]. - As of December 31, 2022, the company had $1.8 billion in borrowings under credit agreements based on variable rates, primarily LIBOR, with a potential annual interest cost increase of approximately $18.0 million for a 1% rise in rates[277]. Asset Management - The company permanently closed several properties in 2022, which may indicate potential impairment of long-lived assets[301]. - As of December 31, 2022, the carrying amount of property and equipment was approximately $2.2 billion, representing 65.6% of total assets[302]. - Goodwill totaled $195.7 million as of December 31, 2022, with annual impairment testing conducted each October[303]. - Indefinite-lived intangible assets amounted to $76.5 million as of December 31, 2022, and are tested for impairment annually[308]. Tax and Legal Matters - The company recorded uncertain tax positions based on a two-step process, with no significant liabilities for unrecognized tax benefits expected within the next twelve months[315]. - The company is involved in various lawsuits and assesses the potential for losses, accruing liabilities when losses are deemed probable[311].

Red Rock Resorts, Inc. (NASDAQ:RRR) Q4 2022 Earnings Conference Call February 7, 2023 4:30 PM ET Company Participants Stephen Cootey - Executive Vice President, Chief Financial Officer and Treasurer Frank Fertitta - Chairman and Chief Executive Officer Scott Kreeger - President Lorenzo Fertitta - Vice Chairman Conference Call Participants Joe Greff - J.P. Morgan Carlo Santarelli - Deutsche Bank Shaun Kelley - Bank of America Steve Wieczynski - Stifel Barry Jonas - Truist Securities Stephen Grambling - Morga ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-37754 RED ROCK RESORTS, INC. (Exact name of registrant as specified in its charter) (State or other jurisd ...

Red Rock Resorts, Inc. (NASDAQ:RRR) Q3 2022 Results Conference Call October 27, 2022 8:30 AM ET Company Participants Stephen Cootey - EVP, CFO and Treasurer Frank Fertitta - Chairman and CEO Scott Kreeger - President Lorenzo Fertitta - Vice Chairman Conference Call Participants Joe Greff - JP Morgan Carlo Santarelli - Deutsche Bank Shaun Kelley - Bank of America Stephen Grambling - Morgan Stanley Jordan Bender - JMP Securities Steve Wieczynski - Stifel Barry Jonas - Truist Securities Chad Beynon - Macquarie ...

Red Rock Resorts Inc. (NASDAQ:RRR) Q2 2022 Earnings Conference Call August 9, 2022 4:30 PM ET Company Participants Stephen Cootey - Executive VP, CFO and Treasurer Frank Fertitta - Chairman and CEO Lorenzo Fertitta - Vice Chairman of the Board Scott Kreeger - President Conference Call Participants Joe Greff - JPMorgan Carlo Santarelli - Deutsche Bank Shaun Kelley - Bank of America Steve Wieczynski - Stifel Barry Jonas - Truist Dan Politzer - Wells Fargo Chad Beynon - Macquarie Operator Good afternoon, and w ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-37754 RED ROCK RESORTS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdictio ...