Red Rock Resorts (RRR) Investor Presentation summary

Alignment and leadership

• Entrepreneurial leadership established the Las Vegas Locals market, now the second largest gaming market in the U.S.

• Stable management under Frank and Lorenzo Fertitta, growing from 1 to 19 properties and over 9,000 team members.

• Majority ownership by the Fertitta family ensures alignment between shareholders and management.

Market and demographic trends

• Nevada and Las Vegas continue to experience robust population growth, with Clark County adding nearly 500,000 residents since 2000.

• Older consumers (65+) are projected to grow over four times faster than the total population in the next five years.

• Median household income for those 65+ is expected to rise by 6.9% between 2025 and 2030.

• Clark County will add nearly 200,000 housing units over the next 15 years, with home values and equity rising.

• Housing market stability is supported by low negative equity and a decline in adjustable-rate mortgages.

Quality of life and business environment

• Las Vegas offers a lower cost of living compared to other western U.S. metros, with no state income tax and a favorable business climate.

• Nevada ranks as the top state for new corporate investment in the West.

• Household debt per capita has decreased by 46.5% since 2008, while median income has increased.