I N V E S T O R P R E S E N T A T I O N • J U L Y 2021 red rock resorts | D I S C L A I M E R This presentation contains forward-looking statements, that reflect current views of Red Rock, Inc. (the "Company") with respect to, among other things, our operations and financial performance, all of which are subject to known and unknown risks, uncertainties an d other factors that may cause our actual results, performance or achievements, market trends, or industry results to differ material ly from those expre ...

Red Rock Resorts, Inc. (NASDAQ:RRR) Q2 2021 Earnings Conference Call July 28, 2021 4:30 PM ET Company Participants Stephen Cootey - Executive Vice President, Chief Financial Officer and Treasurer Frank Fertitta - Chief Executive Officer Lorenzo Fertitta - Vice Chairman Conference Call Participants Joe Greff - JPMorgan Carlo Santarelli - Deutsche Bank Barry Jonas - Truist Securities Shaun Kelley - Bank of America Chad Beynon - Macquarie John DeCree - CBRE Operator Good afternoon and welcome to Red Rock Resor ...

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 (I.R.S. Employer Identification No.) ☐ 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 jurisdiction of incorp ...

Financial Data and Key Metrics Changes - For Q1 2021, the company's consolidated net revenue was $352.6 million, down 21.1% from $447 million in Q1 2019. Adjusted EBITDA was $156.6 million, up 8% from $145.1 million in Q1 2019, with an adjusted EBITDA margin of 44.4%, an increase of 1,197 basis points from Q1 2019 and up 59 basis points from Q4 2020 [6][5][6]. - Las Vegas operations net revenues were $338.4 million, up 5.4% from $321 million in Q1 2019, with adjusted EBITDA of $165.6 million, up 38% from $120 million in Q1 2019, and an adjusted EBITDA margin of 48.9%, an increase of 1,155 basis points from Q1 2019 [7][6]. Business Line Data and Key Metrics Changes - The company achieved the second highest net revenue and the highest adjusted EBITDA and adjusted EBITDA margin in its history on a same-store basis [8]. - The company converted 57% of adjusted EBITDA to free cash flow, generating $88.8 million or $0.76 per share, totaling almost $350 million or $2.97 per share since reopening in June 2020 [8]. Market Data and Key Metrics Changes - Customer trends showed strong visitation from a younger demographic, increased spending per visit, and more time spent on devices, positively impacted by the COVID-19 vaccination rollout and federal stimulus money [9]. - As of May 1, occupancy restrictions were eased to 80%, with expectations to reach 100% occupancy as vaccination rates increase [10]. Company Strategy and Development Direction - The company plans to accelerate the development of the Durango project in Southwest Las Vegas while maintaining a strong balance sheet [15][16]. - The sale of the Palms Casino Resort is seen as a way to create shareholder value and focus on improving operations of existing assets in the Las Vegas locals market [15][16]. Management's Comments on Operating Environment and Future Outlook - Management believes the worst is behind them, with government restrictions easing and pent-up leisure demand expected to drive recovery [19]. - The company has achieved over $200 million in annual cost savings, exceeding previous targets, and expects to maintain higher profitability and free cash flow [11][19]. Other Important Information - The company’s cash and cash equivalents at the end of Q1 were $117.9 million, with total debt outstanding at $2.87 billion. The company paid down $78 million in debt during the quarter [12]. - A tax distribution of approximately $31.5 million was made to LLC Unit holders, with part of it used for share repurchase under a previously disclosed program [13]. Q&A Session Summary Question: Thoughts on adding back existing capacity and Durango development - Management is evaluating closed properties and will only reopen if they generate incremental free cash flow. Staffing will increase as volumes rise, particularly in high-margin non-gaming areas [25][26]. Question: Impact of COVID costs on margins - COVID mitigation costs are expected to fade, potentially allowing for further margin expansion beyond current levels [34][35]. Question: Insights on loyalty program and customer behavior - New sign-ups in the loyalty program are more active and valuable than pre-COVID levels, indicating strong customer engagement [52]. Question: Thoughts on the Strip recovery and Palace Station - Palace Station is performing well, benefiting from local business and expected recovery in the Strip market [56][57]. Question: Free cash flow considerations post-Palms sale - The sale will shield taxes and improve cash interest, with no significant changes expected in working capital [58]. Question: Labor hiring issues - The company feels confident about its labor situation, having retained staff during COVID, which has eased the staffing process as business returns [70][71]. Question: Cashless gaming adoption - The company is developing a cashless gaming app to enhance customer convenience and experience [75][77].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 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 regist ...

Red Rock Resorts, Inc. (NASDAQ:RRR) Q4 2020 Earnings Conference Call February 9, 2021 4:30 PM ET Company Participants Stephen Cootey - Executive Vice President, Chief Financial Officer & Treasurer Frank Fertitta - Chairman & Chief Executive Officer Lorenzo Fertitta - Vice Chairman of the Board Conference Call Participants Joe Greff - JPMorgan Carlo Santarelli - Deutsche Bank Barry Jonas - Truist Securities Steven Grambling - Goldman Sachs Steve Wieczynski - Stifel Shaun Kelley - Bank of America Chad Beynon ...

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, 2020 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 2020 Earnings Conference Call October 27, 2020 4:30 PM ET Company Participants Stephen Cootey - Executive Vice President, Chief Financial Officer & Treasurer Frank Fertitta - Chairman & Chief Executive Officer Lorenzo Fertitta - Independent Director Bob Finch - Executive Vice President & Chief Operating Officer Rod Atamian - Executive Vice President, Development & Strategy Conference Call Participants Joe Greff - JP Morgan Carlo Santarelli - Deutsche Bank Steven Wieczy ...

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, 2020 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 ...

Financial Data and Key Metrics Changes - The company reported consolidated net revenue of $108.5 million, down from $482.9 million in the prior quarter, and adjusted EBITDA of negative $17.3 million, down from $115.2 million in the prior quarter [18][19] - EBITDA margin decreased to negative 15.9% for the quarter [18] - Las Vegas operations reported net revenues of $101 million, down from $457.8 million in the prior quarter, with adjusted EBITDA of negative $12.1 million, down from $106 million in the prior quarter [19] Business Line Data and Key Metrics Changes - The company opened 16 of its 20 properties on June 4, generating over 80% of Las Vegas net revenue and over 90% of Las Vegas EBITDA during the same period [17] - The Graton Casino Resort reported management fee revenue for the second quarter of $5.9 million, a decrease of 75% over the prior year [29] Market Data and Key Metrics Changes - The company noted that short-haul traffic into Las Vegas is down, but not as significantly as long-haul and group business, which are down much more [48] - The company has seen a significant increase in younger demographics visiting its properties, while older demographics have declined due to COVID-19 concerns [77] Company Strategy and Development Direction - The company has implemented comprehensive health and cleanliness guidelines for its properties to ensure safety [9] - Significant cost reductions of approximately $150 million on an annualized run rate basis have been targeted, with an additional estimated $200 million in labor expense savings from closed properties [13][14] - The company is focused on maintaining a leaner and more efficient operation moving forward [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the uncertain economic environment and highlighted the resilience of its local business model [23] - The company is cautiously optimistic about its financial performance in July, but acknowledges the ongoing uncertainty due to the pandemic [25] - Management emphasized the importance of adapting to changing consumer behavior and focusing on convenience and value [55] Other Important Information - The company has $274.5 million in cash and cash equivalents and $3.3 billion in total principal debt outstanding [26] - The company has over $1 billion in liquidity, allowing it to operate fully staffed for over 20 months in a zero-revenue environment [27] Q&A Session Summary Question: What was the EBITDA drag from closed properties in June? - The closed properties had a drag of about $1.4 million in June, which is expected to remain consistent in July [36] Question: What trends are seen in the locals market in July? - Trends in July have been consistent with June, showing less visitation but more spend per visit and a younger demographic [38] Question: Is there a market for assets to scale up prices? - It is too early to assess the current economic environment and the future of closed properties like Palms is undecided [40][42] Question: How is the short-haul traffic from California looking? - Short-haul traffic is down, but not as significantly as long-haul and group business, which are down much more [48] Question: What is the promo environment like? - The situation is unique as all operators face similar challenges, leading to a focus on what truly matters in the business [53] Question: Can you elaborate on the $150 million in potential savings? - Significant reductions have been made at the corporate level, and some amenities may not return, allowing for cost savings without impacting customer experience [70][71] Question: Are younger customers driving performance? - There has been a significant increase in younger demographics, and the company is focused on converting uncarded younger play into carded play [83]