Red Rock Resorts (RRR) 10-Q 6 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 02, 2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-37754
Entity Registrant Name	RED ROCK RESORTS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-5081182
Entity Address, Address Line One	1505 South Pavilion Center Drive
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89135
City Area Code	702
Local Phone Number	495-3000
Title of 12(b) Security	Class A Common Stock, $.01 par value
Trading Symbol	RRR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001653653
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Class A common stock
Entity Common Stock, Shares Outstanding (in shares)		61,472,012
Class B common stock
Entity Common Stock, Shares Outstanding (in shares)		45,985,804

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 336,566	$ 275,281
Restricted cash	31,974	0
Receivables, net	34,872	36,739
Inventories	11,902	11,734
Prepaid gaming tax	27,559	26,745
Prepaid expenses and other current assets	19,514	20,416
Assets held for sale	7,600	7,600
Total current assets	469,987	378,515
Property and equipment, net of accumulated depreciation of $1,190,300 and $1,168,813 at March 31, 2022 and December 31, 2021, respectively	2,023,548	2,009,608
Goodwill	195,676	195,676
Intangible assets, net of accumulated amortization of $17,535 and $17,128 at March 31, 2022 and December 31, 2021, respectively	86,765	87,172
Land held for development	237,335	237,335
Investments in joint ventures	5,942	6,087
Native American development costs	35,234	34,094
Deferred tax asset, net	92,511	98,625
Other assets, net	62,488	93,221
Total assets	3,209,486	3,140,333
Current liabilities:
Accounts payable	18,209	17,466
Accrued interest payable	12,269	14,320
Income tax payable	4,835	735
Other accrued liabilities	168,876	146,374
Current portion of payable pursuant to tax receivable agreement	6,664	0
Current portion of long-term debt	25,931	25,921
Total current liabilities	236,784	204,816
Long-term debt, less current portion	2,822,774	2,827,603
Other long-term liabilities	32,651	30,723
Payable pursuant to tax receivable agreement, less current portion	20,494	27,158
Total liabilities	3,112,703	3,090,300
Stockholders’ equity:
Preferred stock, par value $0.01 per share, 100,000,000 shares authorized; none issued and outstanding	0	0
Additional paid-in capital	50,252	55,028
Retained earnings	36,942	3,851
Total Red Rock Resorts, Inc. stockholders’ equity	87,810	59,494
Noncontrolling interest	8,973	(9,461)
Total stockholders’ equity	96,783	50,033
Total liabilities and stockholders’ equity	3,209,486	3,140,333
Class A common stock
Stockholders’ equity:
Common stock	615	614
Class B common stock
Stockholders’ equity:
Common stock	$ 1	$ 1

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accumulated depreciation	$ 1,190,300	$ 1,168,813
Accumulated amortization	$ 17,535	$ 17,128
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A common stock
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	61,472,012	61,426,605
Common stock, shares outstanding (in shares)	61,472,012	61,426,605
Class B common stock
Common stock, par value (in usd per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	45,985,804
Common stock, shares outstanding (in shares)	45,985,804

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating revenues:
Net revenues	$ 401,636	$ 352,619
Operating costs and expenses:
Selling, general and administrative	86,296	78,910
Depreciation and amortization	33,425	54,255
Write-downs and other, net	10,180	260
Asset impairment	0	169,733
Operating expenses	270,842	423,772
Operating income (loss)	130,794	(71,153)
Earnings from joint ventures	844	390
Operating income (loss) and earnings from joint ventures	131,638	(70,763)
Other expense:
Interest expense, net	(26,674)	(27,267)
Loss on extinguishment of debt	0	(8,140)
Other	0	(176)
Total other expense	(26,674)	(35,583)
Income (loss) before income tax	104,964	(106,346)
Provision for income tax	(12,719)	(217)
Net income (loss)	92,245	(106,563)
Less: net income (loss) attributable to noncontrolling interests	43,899	(41,785)
Net income (loss) attributable to Red Rock Resorts, Inc.	$ 48,346	$ (64,778)
Earnings (loss) per common share (Note 9):
Earnings (loss) per share of Class A common stock, basic (in dollars per share)	$ 0.79	$ (0.92)
Earnings (loss) per share of Class A common stock, diluted (in dollars per share)	$ 0.77	$ (0.92)
Weighted-average common shares outstanding:
Basic (in shares)	61,005	70,728
Diluted (in shares)	107,701	70,728
Statement of comprehensive income (loss):
Comprehensive income (loss)	$ 92,245	$ (106,563)
Less: comprehensive income (loss) attributable to noncontrolling interests	43,899	(41,785)
Comprehensive income (loss) attributable to Red Rock Resorts, Inc.	48,346	(64,778)
Casino
Operating revenues:
Net revenues	279,771	259,938
Operating costs and expenses:
Operating costs and expenses	68,866	63,116
Food and beverage
Operating revenues:
Net revenues	65,699	46,872
Operating costs and expenses:
Operating costs and expenses	53,223	41,057
Room
Operating revenues:
Net revenues	36,772	21,944
Operating costs and expenses:
Operating costs and expenses	12,482	11,091
Other
Operating revenues:
Net revenues	19,181	15,557
Operating costs and expenses:
Operating costs and expenses	6,370	5,350
Management fees
Operating revenues:
Net revenues	$ 213	$ 8,308

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Class A common stock	Class B common stock	Common stockClass A common stock	Common stockClass B common stock	Additional paid-in capital	Retained earnings (accumulated deficit)	Accumulated other comprehensive loss	Noncontrolling interest
Balance at Dec. 31, 2020	$ 604,641			$ 712	$ 1	$ 385,579	$ (33,071)	$ (623)	$ 252,043
Number of shares at Dec. 31, 2020				71,228,000	46,086,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(106,563)						(64,778)		(41,785)
Share-based compensation	2,741					2,741
Distributions	(7,561)								(7,561)
Stock option exercises and issuance of restricted stock, net	(317)			$ 2		(319)
Stock option exercises and issuance of restricted stock, net (shares)				171,000
Repurchases of Class A common stock	(11,712)			$ 4		11,708
Repurchases of Class A common stock (shares)				397,000
Exchanges of noncontrolling interests	(2,822)			$ 0	$ 0	(2,223)		(1)	(598)
Exchanges of noncontrolling interests (shares)				0	(100,000)
Tax receivable agreement liability resulting from exchanges of noncontrolling interests	(641)					(641)
Rebalancing of ownership percentage between the Company and noncontrolling interests in Station Holdco						(151)		0	151
Balance at Mar. 31, 2021	477,766			$ 710	$ 1	373,278	(97,849)	$ (624)	202,250
Number of shares at Mar. 31, 2021				71,002,000	45,986,000
Balance at Dec. 31, 2021	50,033			$ 614	$ 1	55,028	3,851		(9,461)
Number of shares at Dec. 31, 2021		61,426,605		61,427,000	45,986,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	92,245						48,346		43,899
Share-based compensation	3,542					3,542
Distributions	(21,798)								(21,798)
Dividends	(15,255)						(15,255)
Stock option exercises and issuance of restricted stock, net	(1,210)			$ 3		(1,213)
Stock option exercises and issuance of restricted stock, net (shares)				270,000
Repurchases of Class A common stock	(10,774)			$ (2)		(10,772)
Repurchases of Class A common stock (shares)				(225,000)
Tax receivable agreement liability resulting from exchanges of noncontrolling interests	0
Rebalancing of ownership percentage between the Company and noncontrolling interests in Station Holdco						3,667			(3,667)
Balance at Mar. 31, 2022	$ 96,783			$ 615	$ 1	$ 50,252	$ 36,942		$ 8,973
Number of shares at Mar. 31, 2022		61,472,012	45,985,804	61,472,000	45,986,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ 92,245	$ (106,563)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	33,425	54,255
Write-downs and other, net	168	(66)
Asset impairment	0	169,733
Amortization of debt discount and debt issuance costs	2,425	2,411
Share-based compensation	3,505	2,741
Loss on extinguishment of debt	0	8,140
Deferred income tax	6,114	0
Changes in assets and liabilities:
Receivables, net	1,867	(167)
Inventories and prepaid expenses	(1,900)	(7,492)
Accounts payable	766	(178)
Accrued interest payable	(2,051)	(7,330)
Income tax receivable/payable, net	4,100	217
Other accrued liabilities	16,568	2,966
Other, net	233	1,093
Net cash provided by operating activities	157,465	119,760
Cash flows from investing activities:
Capital expenditures, net of related payables	(38,945)	(8,010)
Native American development costs	(1,200)	(2,744)
Net settlement of derivative instruments	0	(5,648)
Other, net	14	150
Net cash used in investing activities	(40,131)	(16,252)
Cash flows from financing activities:
Borrowings under credit agreements with original maturity dates greater than three months	0	220,000
Payments under credit agreements with original maturity dates greater than three months	(6,195)	(47,693)
Partial redemption of 5.00% Senior Notes	0	(250,000)
Cash paid for early extinguishment of debt	0	(6,250)
Distributions to noncontrolling interests	(21,798)	(7,561)
Repurchases of Class A common stock	(10,774)	(11,712)
Exchanges of noncontrolling interests for cash	0	(2,822)
Dividends paid	(15,789)	0
Other, net	(1,493)	(591)
Net cash used in financing activities	(56,049)	(106,629)
Increase (decrease) in cash, cash equivalents and restricted cash	61,285	(3,121)
Balance, beginning of period	307,255	125,705
Balance, end of period	368,540	122,584
Cash, cash equivalents and restricted cash:
Cash and cash equivalents	336,566	117,908
Restricted cash	31,974	0
Cash, cash equivalents and restricted cash included in assets held for sale	0	4,676
Balance, end of period	368,540	122,584
Supplemental cash flow disclosures:
Cash paid for interest, net of $417 and $0 capitalized, respectively	26,301	32,207
Non-cash investing and financing activities:
Capital expenditures incurred but not yet paid	$ 23,804	$ 7,719

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Cash Flows [Abstract]
Capitalized interest	$ 417	$ 0

Organization, Basis of Presenta

Organization, Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Basis of Presentation and Significant Accounting Policies	Organization, Basis of Presentation and Significant Accounting Policies Organization Red Rock Resorts, Inc. (“Red Rock,” or the “Company”) was formed as a Delaware corporation in 2015 to own an indirect equity interest in and manage Station Casinos LLC (“Station LLC”), a Nevada limited liability company. Station LLC is a gaming, development and management company established in 1976 that owns and operates nine major gaming and entertainment facilities and ten smaller casino properties (three of which are 50% owned) in the Las Vegas regional market. The Company owns all of the outstanding voting interests in Station LLC and has an indirect equity interest in Station LLC through its ownership of limited liability interests in Station Holdco LLC (“Station Holdco,” and such interests, “LLC Units”), which owns all of the economic interests in Station LLC. At March 31, 2022, the Company held 58% of the economic interests and 100% of the voting power in Station Holdco, subject to certain limited exceptions, and is designated as the sole managing member of both Station Holdco and Station LLC. The Company controls and operates all of the business and affairs of Station Holdco and Station LLC, and conducts all of its operations through these entities. At March 31, 2022, three of the Company’s properties, Texas Station, Fiesta Henderson and Fiesta Rancho, have not reopened since their closure in March 2020 to comply with a statewide emergency order mandating the closure of Nevada casinos as a result of the ongoing COVID-19 pandemic. The Company will continue to assess the performance of its open properties, as well as the Las Vegas market and the economy as a whole, before considering whether to reopen some or all of the remaining properties. The Company has no current plans to reopen any of these properties in 2022. A subsidiary of Station LLC managed Graton Resort, a casino in northern California, on behalf of a Native American tribe through February 5, 2021. The property was temporarily closed from March 17, 2020 through June 17, 2020 as a result of the COVID-19 pandemic. The management agreement was originally expected to expire in November 2020 but was extended as a result of the pandemic through February 5, 2021, when the tribe terminated the Company’s management role at the facility. Whether the management agreement provides for an additional extension beyond that date is in dispute. Basis of Presentation The accompanying condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although management believes that the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments necessary for a fair presentation of the results for the interim periods have been made, and such adjustments were of a normal recurring nature. The interim results reflected in these condensed consolidated financial statements are not necessarily indicative of results to be expected for the full fiscal year. These financial statements should be read in conjunction with the audited financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Certain amounts in the condensed consolidated financial statements for the prior year have been reclassified to be consistent with the current year presentation. During the three months ended March 31, 2022, management determined that the held for sale criteria were no longer met for a parcel of land that was previously classified as held for sale, and the carrying amount of $50.6 million was reclassified to Land held for development at December 31, 2021. Principles of Consolidation Station Holdco and Station LLC are variable interest entities, of which the Company is the primary beneficiary. Accordingly, the Company consolidates the financial position and results of operations of Station LLC and its consolidated subsidiaries and Station Holdco, and presents the interest in Station Holdco not owned by Red Rock within noncontrolling interest in the condensed consolidated financial statements. All intercompany accounts and transactions have been eliminated. The Company has investments in three 50% owned smaller casino properties which are joint ventures accounted for using the equity method. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported and disclosed. Actual results could differ from those estimates. Significant Accounting Policies A description of the Company’s significant accounting policies is included in the audited financial statements within its Annual Report on Form 10-K for the year ended December 31, 2021.

Noncontrolling Interest in Stat

Noncontrolling Interest in Station Holdco	3 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
Noncontrolling Interest in Station Holdco	Noncontrolling Interest in Station Holdco As discussed in Note 1, Red Rock holds a controlling interest in and consolidates the financial position and results of operations of Station LLC and its subsidiaries and Station Holdco. The interests in Station Holdco not owned by Red Rock are presented within noncontrolling interest in the condensed consolidated financial statements. The ownership of the LLC Units is summarized as follows: March 31, 2022 December 31, 2021 Units Ownership % Units Ownership % Red Rock 64,472,873 58.4 % 64,425,248 58.4 % Noncontrolling interest holders 45,985,804 41.6 % 45,985,804 41.6 % Total 110,458,677 100.0 % 110,411,052 100.0 % The Company uses monthly weighted-average LLC Unit ownership to calculate the pretax income or loss and other comprehensive income or loss of Station Holdco attributable to Red Rock and the noncontrolling interest holders. Station Holdco equity attributable to Red Rock and the noncontrolling interest holders is rebalanced, as needed, to reflect LLC Unit ownership at period end.

Native American Development

Native American Development	3 Months Ended
	Mar. 31, 2022
Development Disclosure [Abstract]
Native American Development	Native American Development The Company has development and management agreements with the North Fork Rancheria of Mono Indians (the “Mono”), a federally recognized Native American tribe located near Fresno, California, which were originally entered into in 2003. In August 2014, the Mono and the Company entered into the Second Amended and Restated Development Agreement (the “Development Agreement”) and the Second Amended and Restated Management Agreement. Pursuant to those agreements, the Company will assist the Mono in developing and operating a gaming and entertainment facility (the “North Fork Project”) to be located in Madera County, California. The Company purchased a 305-acre parcel of land adjacent to Highway 99 north of the city of Madera (the “North Fork Site”), which was taken into trust for the benefit of the Mono by the Department of the Interior (“DOI”) in February 2013. As currently contemplated, the North Fork Project is expected to include approximately 2,000 Class III slot machines, approximately 40 table games and several restaurants, and future development costs of the project are expected to be between $350 million and $400 million. Development of the North Fork Project is subject to certain governmental and regulatory approvals, including, without limitation, approval of the management agreement by the Chair of the National Indian Gaming Commission (“NIGC”). Under the terms of the Development Agreement, the Company has agreed to arrange the financing for the ongoing development costs and construction of the facility, and has contributed significant financial support to the North Fork Project. Through March 31, 2022, the Company has paid approximately $50.3 million of reimbursable advances to the Mono, primarily to complete the environmental impact study, purchase the North Fork Site and pay the costs of litigation. The advances are expected to be repaid from the proceeds of the project’s financing or from the Mono’s cash flows from the North Fork Project’s operations; however, there can be no assurance that the advances will be repaid. The carrying amount of the advances was reduced to fair value upon the Company’s adoption of fresh-start reporting in 2011. At March 31, 2022, the carrying amount of the advances was $35.2 million. The Company earns a return on the advances to the Mono. Due to uncertainty surrounding the timing and amount of the stated return, the Company recognizes the return when it is received. The Company expects to receive a development fee of 4% of the costs of construction (as defined in the Development Agreement) for its development services, which will be paid upon the commencement of gaming operations at the facility. In March 2018, the Mono submitted a proposed Third Amended and Restated Management Agreement (the “Management Agreement”) to the NIGC. The Management Agreement allows the Company to receive a management fee of 30% of the North Fork Project’s net income. The Management Agreement and the Development Agreement have a term of seven Upon termination or expiration of the Management Agreement and Development Agreement, the Mono will continue to be obligated to repay any unpaid principal and interest on the advances from the Company, as well as certain other amounts that may be due, such as management fees. Amounts due to the Company under the Development Agreement and Management Agreement are secured by substantially all of the assets of the North Fork Project except the North Fork Site. In addition, the Development Agreement and Management Agreement contain waivers of the Mono’s sovereign immunity from suit for the purpose of enforcing the agreements or permitting or compelling arbitration and other remedies. The timing of this type of project is difficult to predict and is dependent upon the receipt of the necessary governmental and regulatory approvals. There can be no assurance as to when, or if, these approvals will be obtained. The Company currently estimates that construction of the North Fork Project may begin in the next six The Company has evaluated the likelihood that the North Fork Project will be successfully completed and opened, and has concluded that the likelihood of successful completion is in the range of 75% to 85% at March 31, 2022. The Company’s evaluation is based on its consideration of all available positive and negative evidence about the status of the North Fork Project, including, but not limited to, the status of required regulatory approvals, as well as the progress being made toward the achievement of all milestones and the successful resolution of all litigation and contingencies. There can be no assurance that the North Fork Project will be successfully completed or that future events and circumstances will not change the Company’s estimates of the timing, scope, and potential for successful completion or that any such changes will not be material. In addition, there can be no assurance that the Company will recover all of its investment in the North Fork Project even if it is successfully completed and opened for business. The following table summarizes the Company’s evaluation at March 31, 2022 of each of the critical milestones necessary to complete the North Fork Project. Federally recognized as an Indian tribe by the Bureau of Indian Affairs (“BIA”) Yes Date of recognition Federal recognition was terminated in 1966 and restored in 1983. Tribe has possession of or access to usable land upon which the project is to be built The DOI accepted approximately 305 acres of land for the project into trust for the benefit of the Mono in February 2013. Status of obtaining regulatory and governmental approvals: Tribal-state compact A compact was negotiated and signed by the Governor of California and the Mono in August 2012. The California State Assembly and Senate passed Assembly Bill 277 (“AB 277”) which ratified the Compact in May 2013 and June 2013, respectively. Opponents of the North Fork Project qualified a referendum, “Proposition 48,” for a state-wide ballot challenging the legislature’s ratification of the Compact. In November 2014, Proposition 48 failed. The State took the position that the failure of Proposition 48 nullified the ratification of the Compact and, therefore, the Compact did not take effect under California law. In March 2015, the Mono filed suit against the State to obtain a compact with the State or procedures from the Secretary of the Interior under which Class III gaming may be conducted on the North Fork Site. In July 2016, the DOI issued Secretarial procedures (the “Secretarial Procedures”) pursuant to which the Mono may conduct Class III gaming on the North Fork Site. Approval of gaming compact by DOI The Compact was submitted to the DOI in July 2013. In October 2013, notice of the Compact taking effect was published in the Federal Register. The Secretarial Procedures supersede and replace the Compact. Record of decision regarding environmental impact published by BIA In November 2012, the record of decision for the Environmental Impact Statement for the North Fork Project was issued by the BIA. In December 2012, the Notice of Intent to take land into trust was published in the Federal Register. BIA accepting usable land into trust on behalf of the tribe The North Fork Site was accepted into trust in February 2013. Approval of management agreement by NIGC In December 2015, the Mono submitted a Second Amended and Restated Management Agreement, and certain related documents, to the NIGC. In July 2016, the Mono received a deficiency letter from the NIGC seeking additional information concerning the Second Amended and Restated Management Agreement. In March 2018, the Mono submitted the Management Agreement and certain related documents to the NIGC. In June 2018, the Mono received a deficiency letter from the NIGC seeking additional information concerning the Management Agreement. In April 2021, the Mono received an issues letter from the NIGC identifying issues to be addressed prior to approval of the Management Agreement. Approval of the Management Agreement by the NIGC is expected to occur following the Mono’s response to the issues letter. The Company believes the Management Agreement will be approved because the terms and conditions thereof are consistent with the provisions of the Indian Gaming Regulatory Act (“IGRA”). Gaming licenses: Type The North Fork Project will include the operation of Class II and Class III gaming, which are allowed pursuant to the terms of the Secretarial Procedures and IGRA, following approval of the Management Agreement by the NIGC. Number of gaming devices allowed The Secretarial Procedures allow for the operation of a maximum of 2,000 Class III slot machines at the facility during the first two years of operation and thereafter up to 2,500 Class III slot machines. There is no limit on the number of Class II gaming devices that the Mono can offer. Agreements with local authorities The Mono has entered into memoranda of understanding with the City of Madera, the County of Madera and the Madera Irrigation District under which the Mono agreed to pay one-time and recurring mitigation contributions, subject to certain contingencies. The memoranda of understanding have all been amended to restructure the timing of certain payments due to delays in the development of the North Fork Project. Following is a discussion of the unresolved legal matter related to the North Fork Project. Picayune Rancheria of Chukchansi Indians v. Brown . In March 2016, Picayune Rancheria of Chukchansi Indians (“Picayune”) filed a complaint for declaratory relief and petition for writ of mandate in California Superior Court for the County of Madera against Governor Edmund G. Brown, Jr., alleging that the referendum that invalidated the Compact also invalidated Governor Brown’s concurrence with the Secretary of the Interior’s determination that gaming on the North Fork Site would be in the best interest of the Mono and not detrimental to the surrounding community. The complaint seeks to vacate and set aside the Governor’s concurrence and was stayed from December 2016 to September 2021, when the Supreme Court of California denied the Mono’s and the State of California’s petition for review in Stand Up for California! v. Brown . As a result of the denial, litigation of this matter has resumed.

Other Accrued Liabilities

Other Accrued Liabilities	3 Months Ended
	Mar. 31, 2022
Accrued Liabilities, Current [Abstract]
Other Accrued Liabilities	Other Accrued Liabilities Other accrued liabilities consisted of the following (amounts in thousands): March 31, December 31, 2021 Contract and customer-related liabilities: Rewards Program liability $ 12,435 $ 12,711 Advance deposits and future wagers 14,560 15,897 Unpaid wagers, outstanding chips and other customer-related liabilities 22,003 21,963 Other accrued liabilities: Accrued payroll and related 35,917 30,019 Accrued gaming and related 27,385 25,372 Construction payables and equipment purchase accruals 24,200 15,437 Operating lease liabilities, current portion 3,081 2,976 Other 29,295 21,999 $ 168,876 $ 146,374

Long-term Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Long-term debt consisted of the following indebtedness of Station LLC (amounts in thousands): March 31, December 31, 2021 Term Loan B Facility due February 7, 2027, interest at a margin above LIBOR or base rate (2.71% and 2.50% at March 31, 2022 and December 31, 2021, respectively), net of unamortized discount and deferred issuance costs of $23.7 million and $24.9 million at March 31, 2022 and December 31, 2021, respectively $ 1,461,047 $ 1,463,731 Term Loan A Facility due February 7, 2025, interest at a margin above LIBOR or base rate (1.96% and 1.61% at March 31, 2022 and December 31, 2021, respectively), net of unamortized discount and deferred issuance costs of $1.5 million and $1.6 million at March 31, 2022 and December 31, 2021, respectively 168,591 170,819 Revolving Credit Facility due February 7, 2025, interest at a margin above LIBOR or base rate — — 4.625% Senior Notes due December 1, 2031, net of unamortized deferred issuance costs of $5.9 million and $6.0 million at March 31, 2022 and December 31, 2021, respectively 494,134 494,015 4.50% Senior Notes due February 15, 2028, net of unamortized discount and deferred issuance costs of $6.4 million and $6.6 million at March 31, 2022 and December 31, 2021, respectively 684,404 684,170 Other long-term debt, weighted-average interest of 3.82% at March 31, 2022 and December 31, 2021, net of unamortized discount and deferred issuance costs of $0.3 million at March 31, 2022 and December 31, 2021 40,529 40,789 Total long-term debt 2,848,705 2,853,524 Current portion of long-term debt (25,931) (25,921) Total long-term debt, net $ 2,822,774 $ 2,827,603 Credit Facility Station LLC’s credit facility consists of the Term Loan B Facility, the Term Loan A Facility and the Revolving Credit Facility (collectively, the “Credit Facility”). The Term Loan B Facility bears interest at a rate per annum, at Station LLC’s option, equal to either LIBOR plus 2.25% or base rate plus 1.25%. The Term Loan A Facility and Revolving Credit Facility bear interest at a rate per annum, at Station LLC’s option, equal to either LIBOR plus an amount ranging from 1.50% to 1.75% or base rate plus an amount ranging from 0.50% to 0.75%, depending on Station LLC’s consolidated total leverage ratio. The Credit Facility contains a number of customary covenants, including requirements that Station LLC maintain throughout the term of the Credit Facility and measured as of the end of each quarter, an interest coverage ratio of not less than 2.50 to 1.00 and a maximum consolidated total leverage ratio, with step-downs over the term of the Credit Facility, ranging from 6.25 to 1.00 at March 31, 2022 to 5.25 to 1.00 at December 31, 2023 and thereafter. A breach of the financial ratio covenants shall only become an event of default under the Term Loan B Facility if the lenders within the Term Loan A Facility and the Revolving Credit Facility take certain affirmative actions after the occurrence of a default of such financial ratio covenants. Management believes the Company was in compliance with all applicable covenants at March 31, 2022. Revolving Credit Facility At March 31, 2022, Station LLC’s borrowing availability under its Revolving Credit Facility, subject to continued compliance with the terms of the Credit Facility, was $1.0 billion, which was net of $29.4 million in outstanding letters of credit and similar obligations. Fair Value of Long-term Debt The estimated fair value of Station LLC’s long-term debt compared with its carrying amount is presented below (amounts in millions): March 31, December 31, 2021 Aggregate fair value $ 2,750 $ 2,887 Aggregate carrying amount 2,849 2,854

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Net Income (Loss) Attributable to Red Rock Resorts, Inc. and Transfers from (to) Noncontrolling Interests The table below presents the effect on Red Rock Resorts, Inc. stockholders’ equity from net income (loss) and transfers from (to) noncontrolling interests (amounts in thousands): Three Months Ended 2022 2021 Net income (loss) attributable to Red Rock Resorts, Inc. $ 48,346 $ (64,778) Transfers from (to) noncontrolling interests: Exchanges of noncontrolling interests — 598 Rebalancing of ownership percentage between the Company and noncontrolling interests in Station Holdco 3,667 (151) Net transfers from noncontrolling interests 3,667 447 Change from net income (loss) attributable to Red Rock Resorts, Inc. and net transfers from noncontrolling interests $ 52,013 $ (64,331) Dividends On February 18, 2022, the Company announced that its board of directors had approved the reinstatement of the Company’s regular quarterly dividend, which had been discontinued since May 2020. During the three months ended March 31, 2022, the Company declared and paid a cash dividend of $0.25 per share of Class A common stock. No dividend was paid during the three months ended March 31, 2021. On May 3, 2022, the Company announced that it would pay a dividend of $0.25 per share to holders of record as of June 16, 2022 to be paid on June 30, 2022. Prior to the payment of the dividend, Station Holdco will make a cash distribution to all LLC Unit holders, including the Company, of $0.25 per LLC Unit, a portion of which will be paid to the other unit holders of Station Holdco. Equity Repurchase Program As of September 2021, the Company’s board of directors had approved an equity repurchase program authorizing the repurchase of up to an aggregate of $300 million of its Class A common stock through December 31, 2022. During the three months ended March 31, 2022 and 2021, the Company repurchased 184,793 and 382,602 shares, respectively, of its Class A common stock for an aggregate purchase price of $8.8 million and $11.2 million, respectively, and a weighted average price per share of $47.77 and $29.39, respectively, in open market transactions. At March 31, 2022, the remaining amount authorized for repurchases under the program was $145.6 million.

Share-based Compensation

Share-based Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation The Company maintains an equity incentive plan designed to attract, retain and motivate employees and align the interests of those individuals with the interests of the Company. A total of 23.6 million shares of Class A common stock are reserved for issuance under the plan, of which approximately 11.7 million shares were available for issuance at March 31, 2022. The following table presents information about the Company’s share-based compensation awards: Restricted Class A Stock Options Shares Weighted-average grant date fair value Shares Weighted-average exercise price Outstanding at January 1, 2022 392,386 $ 28.47 6,562,539 $ 25.67 Activity during the period: Granted 214,413 47.33 1,121,407 47.34 Vested/exercised (a) (152,052) 28.54 (142,813) 23.75 Forfeited/expired — — (14,073) 23.43 Outstanding at March 31, 2022 454,747 $ 37.34 7,527,060 $ 28.93 _______________________________________________________________ (a) Stock options exercised included 87,168 options that were not converted into shares due to net share settlements to cover the aggregate exercise price and employee withholding taxes. The Company recognized share-based compensation expense of $3.5 million and $2.7 million for the three months ended March 31, 2022 and 2021, respectively. At March 31, 2022, unrecognized share-based compensation cost was $54.9 million, which is expected to be recognized over a weighted-average period of 3.4 years.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Red Rock is a corporation and pays corporate federal, state and local taxes on its income, primarily pass-through income from Station Holdco based upon Red Rock’s economic interest held in Station Holdco. Station Holdco is a partnership for income tax reporting purposes. Station Holdco’s members, including the Company, are liable for federal, state and local income taxes based on their respective share of Station Holdco’s pass-through taxable income. The Company’s tax provision or benefit from income taxes for interim periods is determined using an estimate of the Company’s annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter the Company updates the estimate of the annual effective tax rate and makes necessary cumulative adjustments to the total tax provision or benefit. The current taxes are estimated for the period and the balance sheet is adjusted to reflect such taxes currently payable or receivable. The remaining tax provision or benefit is recorded as deferred taxes. The Company’s effective tax rate for the three months ended March 31, 2022 was 12.1%, as compared to (0.2)% for the three months ended March 31, 2021. The Company’s effective tax rate for the three months ended March 31, 2022 is less than the 21% statutory rate because its effective tax rate includes a rate benefit attributable to the fact that Station Holdco operates as a limited liability company which is not subject to federal income tax. Accordingly, the Company is not taxed on the portion of Station Holdco’s income attributable to noncontrolling interests. In addition, state income taxes do not have a significant impact on the Company's effective rate. Station Holdco operates in Nevada and California. Nevada does not impose a state income tax and the Company's current activities in California result in minimal state income tax. As a result of the Company’s 2016 initial public offering (“IPO”) and certain reorganization transactions, the Company recorded a net deferred tax asset resulting from the outside basis difference of its interest in Station Holdco. The Company also recorded a deferred tax asset for its liability related to payments to be made pursuant to the tax receivable agreement (“TRA”) representing 85% of the tax savings the Company expects to realize from the amortization deductions associated with the step up in the basis of depreciable assets under Section 754 of the Internal Revenue Code. This deferred tax asset will be recovered as cash payments are made to the TRA participants. In addition, the Company has recorded deferred tax assets related to net operating losses. The Company considers both positive and negative evidence when measuring the need for a valuation allowance. A valuation allowance is not required to the extent that, in management’s judgment, positive evidence exists with a magnitude and duration sufficient to result in a conclusion that it is more likely than not that the Company’s deferred tax assets will be realized. The Company determined that the deferred tax asset related to the LLC Units issued in the IPO and reorganization transactions is not expected to be realized unless the Company disposes of its investment in Station Holdco. As such, the Company established a valuation allowance against this portion of its deferred tax asset. The Company recognizes changes to the valuation allowance through the provision for income tax or other comprehensive income, as applicable. At March 31, 2022 and December 31, 2021, the valuation allowance was $4.8 million. The Company recorded cumulative unrecognized tax benefit liabilities (“UTB”) of $2.5 million as of March 31, 2022 and assessed the corresponding impact of the interest and penalties related to the UTB. The Company files annual income tax returns for Red Rock and Station Holdco in the U.S. federal jurisdiction and California. Station Holdco is currently under examination by the IRS for the 2017 tax year. The Company regularly assesses the likelihood of adverse outcomes resulting from any examinations to determine the adequacy of the Company’s provision for income taxes. The 2017 agreed audit adjustments are reflected as a reduction in carryforward net operating losses. The IRS has also issued a Notice of Proposed Adjustment under the 2017 tax year examination. The Company is appealing this proposed adjustment relating to land lease expense in 2017. There are no other ongoing income tax audits as of March 31, 2022. For federal income tax purposes, the years 2018, 2019, and 2020 are subject to examination as the normal three-year statute of limitations expires three years after the actual filing date of the returns. Tax Receivable Agreement In connection with the IPO, the Company entered into the TRA with certain owners who held LLC Units prior to the IPO. In the event that such parties exchange any or all of their LLC Units for Class A common stock or cash, at the election of the Company, the TRA requires the Company to make payments to such holders for 85% of the tax benefits realized by the Company as a result of such exchange. The Company expects to realize these tax benefits based on current projections of taxable income. The annual tax benefits are computed by calculating the income taxes due, including such tax benefits, and the income taxes due without such benefits. At March 31, 2022 and December 31, 2021, the Company’s liability under the TRA was $27.2 million, of which $9.0 million was payable to entities related to Frank J. Fertitta III, the Company’s Chairman of the Board and Chief Executive Officer, and Lorenzo J. Fertitta, Vice Chairman of the Board and a vice president of the Company. For the three months ended March 31, 2021, an exchange of LLC Units resulted in an increase in the amount payable under the TRA liability of $0.6 million, which was recorded through stockholders’ equity. No LLC Units were exchanged during the three months ended March 31, 2022. The Company expects to pay $6.7 million of the TRA liability within the next twelve months. The timing and amount of aggregate payments due under the TRA may vary based on a number of factors, including the amount and timing of the taxable income the Company generates each year and the tax rate then applicable. The payment obligations under the TRA are Red Rock’s obligations and are not obligations of Station Holdco or Station LLC. Payments are generally due within a specified period of time following the filing of the Company’s annual tax return and interest on such payments will accrue from the original due date (without extensions) of the income tax return until the date paid. Payments not made within the required period after the filing of the income tax return generally accrue interest at a rate of LIBOR plus 5.00%. The TRA will remain in effect until all such tax benefits have been utilized or expired, unless the Company exercises its right to terminate the TRA. The TRA will also terminate if the Company breaches its obligations under the TRA or upon certain mergers, asset sales or other forms of business combinations, or other changes of control. If the Company exercises its right to terminate the TRA, or if the TRA is terminated early in accordance with its terms, the Company’s payment obligations would be accelerated based upon certain assumptions, including the assumption that the Company would have sufficient future taxable income to utilize such tax benefits, and may substantially exceed the actual benefits, if any, the Company realizes in respect of the tax attributes subject to the TRA.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings (Loss) Per Share Basic earnings or loss per share is calculated by dividing net income or loss attributable to Red Rock by the weighted-average number of shares of Class A common stock outstanding during the period. The calculation of diluted earnings or loss per share gives effect to all potentially dilutive shares, including shares issuable pursuant to outstanding stock options and nonvested restricted shares of Class A common stock, based on the application of the treasury stock method, and outstanding Class B common stock that is exchangeable, along with an equal number of LLC Units, for Class A common stock, based on the application of the if-converted method. Dilutive shares included in the calculation of diluted earnings per share for the three months ended March 31, 2022 represent outstanding shares of Class B common stock, nonvested restricted shares of Class A common stock and outstanding stock options. All other potentially dilutive securities have been excluded from the calculation of diluted earnings per share because their inclusion would have been antidilutive. For the three months ended March 31, 2021, the Company incurred a net loss. As a result, all potentially dilutive securities were excluded from the calculation of diluted loss per share for the period because their inclusion would have been antidilutive. A reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings (loss) per share is presented below (amounts in thousands): Three Months Ended 2022 2021 Net income (loss) $ 92,245 $ (106,563) Less: net (income) loss attributable to noncontrolling interests (43,899) 41,785 Net income (loss) attributable to Red Rock, basic 48,346 (64,778) Effect of dilutive securities 34,680 — Net income (loss) attributable to Red Rock, diluted $ 83,026 $ (64,778) Three Months Ended 2022 2021 Weighted average shares of Class A common stock outstanding, basic 61,005 70,728 Effect of dilutive securities 46,696 — Weighted average shares of Class A common stock outstanding, diluted 107,701 70,728 The calculation of diluted earnings (loss) per share of Class A common stock excluded the following potentially dilutive shares that were outstanding at March 31, 2022 and 2021, respectively, because their inclusion would have been antidilutive (amounts in thousands): Three Months Ended 2022 2021 Shares of Class B common stock and LLC Units exchangeable for Class A common stock — 45,986 Stock options 1,164 7,408 Unvested restricted shares of Class A common stock 25 437 Shares of Class B common stock are not entitled to share in the earnings of the Company and are not participating securities. Accordingly, earnings per share of Class B common stock under the two-class method has not been presented.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesThe Company and its subsidiaries are defendants in various lawsuits relating to routine matters incidental to their business. No assurance can be provided as to the outcome of any legal matters and litigation inherently involves significant risks. The Company does not believe there are any legal matters outstanding that would have a material impact on its financial condition or results of operations.

Segments

Segments	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segments	SegmentsThe Company views each of its Las Vegas casino properties and each of its Native American management arrangements as individual operating segments. The Company aggregates all of its Las Vegas operating segments into one reportable segment because all of its Las Vegas properties offer similar products, cater to the same customer base, have the same regulatory and tax structure, share the same marketing techniques, are directed by a centralized management structure and have similar economic characteristics. The Company also aggregates its Native American management arrangements into one reportable segment. The Company utilizes Adjusted EBITDA as its primary performance measure. The Company’s segment information and a reconciliation of net income (loss) to Adjusted EBITDA are presented below (amounts in thousands). Three Months Ended 2022 2021 Net revenues Las Vegas operations: Casino $ 279,771 $ 259,938 Food and beverage 65,699 46,872 Room 36,772 21,944 Other (a) 17,275 13,842 Management fees 213 221 Las Vegas operations net revenues 399,730 342,817 Native American management: Management fees — 8,087 Reportable segment net revenues 399,730 350,904 Corporate and other 1,906 1,715 Net revenues $ 401,636 $ 352,619 Net income (loss) $ 92,245 $ (106,563) Adjustments Depreciation and amortization 33,425 54,255 Share-based compensation 3,505 2,741 Write-downs and other, net 10,180 260 Asset impairment — 169,733 Interest expense, net 26,674 27,267 Loss on extinguishment of debt — 8,140 Provision for income tax 12,719 217 Other — 599 Adjusted EBITDA (b) $ 178,748 $ 156,649 Adjusted EBITDA Las Vegas operations $ 194,604 $ 160,680 Native American management (2,196) 7,604 Reportable segment Adjusted EBITDA 192,408 168,284 Corporate and other (13,660) (11,635) Adjusted EBITDA $ 178,748 $ 156,649 _______________________________________________________________ (a) Includes tenant lease revenue of $4.4 million and $2.7 million for the three months ended March 31, 2022 and 2021, respectively. Revenue from tenant leases is accounted for under the lease accounting guidance and included in Other revenues in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). (b) Adjusted EBITDA includes net income (loss) plus depreciation and amortization, share-based compensation, write-downs and other, net, asset impairment, interest expense, net, loss on extinguishment of debt, provision for income tax and other.

Organization, Basis of Presen_2

Organization, Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although management believes that the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments necessary for a fair presentation of the results for the interim periods have been made, and such adjustments were of a normal recurring nature. The interim results reflected in these condensed consolidated financial statements are not necessarily indicative of results to be expected for the full fiscal year. These financial statements should be read in conjunction with the audited financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Certain amounts in the condensed consolidated financial statements for the prior year have been reclassified to be consistent with the current year presentation. During the three months ended March 31, 2022, management determined that the held for sale criteria were no longer met for a parcel of land that was previously classified as held for sale, and the carrying amount of $50.6 million was reclassified to Land held for development at December 31, 2021.
Principles of Consolidation	Principles of Consolidation Station Holdco and Station LLC are variable interest entities, of which the Company is the primary beneficiary. Accordingly, the Company consolidates the financial position and results of operations of Station LLC and its consolidated subsidiaries and Station Holdco, and presents the interest in Station Holdco not owned by Red Rock within noncontrolling interest in the condensed consolidated financial statements. All intercompany accounts and transactions have been eliminated. The Company has investments in three 50% owned smaller casino properties which are joint ventures accounted for using the equity method.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported and disclosed. Actual results could differ from those estimates.
Significant Accounting Policies	Significant Accounting Policies A description of the Company’s significant accounting policies is included in the audited financial statements within its Annual Report on Form 10-K for the year ended December 31, 2021.

Income Taxes (Policies)

Income Taxes (Policies)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Tax, Policy	The Company’s tax provision or benefit from income taxes for interim periods is determined using an estimate of the Company’s annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter the Company updates the estimate of the annual effective tax rate and makes necessary cumulative adjustments to the total tax provision or benefit. The current taxes are estimated for the period and the balance sheet is adjusted to reflect such taxes currently payable or receivable. The remaining tax provision or benefit is recorded as deferred taxes.

Noncontrolling Interest in St_2

Noncontrolling Interest in Station Holdco (Tables)	3 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
Noncontrolling Interest Ownership	The ownership of the LLC Units is summarized as follows: March 31, 2022 December 31, 2021 Units Ownership % Units Ownership % Red Rock 64,472,873 58.4 % 64,425,248 58.4 % Noncontrolling interest holders 45,985,804 41.6 % 45,985,804 41.6 % Total 110,458,677 100.0 % 110,411,052 100.0 %

Native American Development (Ta

Native American Development (Tables)	3 Months Ended
	Mar. 31, 2022
Development Disclosure [Abstract]
Schedule of Development and Management Agreements	The following table summarizes the Company’s evaluation at March 31, 2022 of each of the critical milestones necessary to complete the North Fork Project. Federally recognized as an Indian tribe by the Bureau of Indian Affairs (“BIA”) Yes Date of recognition Federal recognition was terminated in 1966 and restored in 1983. Tribe has possession of or access to usable land upon which the project is to be built The DOI accepted approximately 305 acres of land for the project into trust for the benefit of the Mono in February 2013. Status of obtaining regulatory and governmental approvals: Tribal-state compact A compact was negotiated and signed by the Governor of California and the Mono in August 2012. The California State Assembly and Senate passed Assembly Bill 277 (“AB 277”) which ratified the Compact in May 2013 and June 2013, respectively. Opponents of the North Fork Project qualified a referendum, “Proposition 48,” for a state-wide ballot challenging the legislature’s ratification of the Compact. In November 2014, Proposition 48 failed. The State took the position that the failure of Proposition 48 nullified the ratification of the Compact and, therefore, the Compact did not take effect under California law. In March 2015, the Mono filed suit against the State to obtain a compact with the State or procedures from the Secretary of the Interior under which Class III gaming may be conducted on the North Fork Site. In July 2016, the DOI issued Secretarial procedures (the “Secretarial Procedures”) pursuant to which the Mono may conduct Class III gaming on the North Fork Site. Approval of gaming compact by DOI The Compact was submitted to the DOI in July 2013. In October 2013, notice of the Compact taking effect was published in the Federal Register. The Secretarial Procedures supersede and replace the Compact. Record of decision regarding environmental impact published by BIA In November 2012, the record of decision for the Environmental Impact Statement for the North Fork Project was issued by the BIA. In December 2012, the Notice of Intent to take land into trust was published in the Federal Register. BIA accepting usable land into trust on behalf of the tribe The North Fork Site was accepted into trust in February 2013. Approval of management agreement by NIGC In December 2015, the Mono submitted a Second Amended and Restated Management Agreement, and certain related documents, to the NIGC. In July 2016, the Mono received a deficiency letter from the NIGC seeking additional information concerning the Second Amended and Restated Management Agreement. In March 2018, the Mono submitted the Management Agreement and certain related documents to the NIGC. In June 2018, the Mono received a deficiency letter from the NIGC seeking additional information concerning the Management Agreement. In April 2021, the Mono received an issues letter from the NIGC identifying issues to be addressed prior to approval of the Management Agreement. Approval of the Management Agreement by the NIGC is expected to occur following the Mono’s response to the issues letter. The Company believes the Management Agreement will be approved because the terms and conditions thereof are consistent with the provisions of the Indian Gaming Regulatory Act (“IGRA”). Gaming licenses: Type The North Fork Project will include the operation of Class II and Class III gaming, which are allowed pursuant to the terms of the Secretarial Procedures and IGRA, following approval of the Management Agreement by the NIGC. Number of gaming devices allowed The Secretarial Procedures allow for the operation of a maximum of 2,000 Class III slot machines at the facility during the first two years of operation and thereafter up to 2,500 Class III slot machines. There is no limit on the number of Class II gaming devices that the Mono can offer. Agreements with local authorities The Mono has entered into memoranda of understanding with the City of Madera, the County of Madera and the Madera Irrigation District under which the Mono agreed to pay one-time and recurring mitigation contributions, subject to certain contingencies. The memoranda of understanding have all been amended to restructure the timing of certain payments due to delays in the development of the North Fork Project.

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Accrued Liabilities, Current [Abstract]
Schedule of Accrued Liabilities	Other accrued liabilities consisted of the following (amounts in thousands): March 31, December 31, 2021 Contract and customer-related liabilities: Rewards Program liability $ 12,435 $ 12,711 Advance deposits and future wagers 14,560 15,897 Unpaid wagers, outstanding chips and other customer-related liabilities 22,003 21,963 Other accrued liabilities: Accrued payroll and related 35,917 30,019 Accrued gaming and related 27,385 25,372 Construction payables and equipment purchase accruals 24,200 15,437 Operating lease liabilities, current portion 3,081 2,976 Other 29,295 21,999 $ 168,876 $ 146,374

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following indebtedness of Station LLC (amounts in thousands): March 31, December 31, 2021 Term Loan B Facility due February 7, 2027, interest at a margin above LIBOR or base rate (2.71% and 2.50% at March 31, 2022 and December 31, 2021, respectively), net of unamortized discount and deferred issuance costs of $23.7 million and $24.9 million at March 31, 2022 and December 31, 2021, respectively $ 1,461,047 $ 1,463,731 Term Loan A Facility due February 7, 2025, interest at a margin above LIBOR or base rate (1.96% and 1.61% at March 31, 2022 and December 31, 2021, respectively), net of unamortized discount and deferred issuance costs of $1.5 million and $1.6 million at March 31, 2022 and December 31, 2021, respectively 168,591 170,819 Revolving Credit Facility due February 7, 2025, interest at a margin above LIBOR or base rate — — 4.625% Senior Notes due December 1, 2031, net of unamortized deferred issuance costs of $5.9 million and $6.0 million at March 31, 2022 and December 31, 2021, respectively 494,134 494,015 4.50% Senior Notes due February 15, 2028, net of unamortized discount and deferred issuance costs of $6.4 million and $6.6 million at March 31, 2022 and December 31, 2021, respectively 684,404 684,170 Other long-term debt, weighted-average interest of 3.82% at March 31, 2022 and December 31, 2021, net of unamortized discount and deferred issuance costs of $0.3 million at March 31, 2022 and December 31, 2021 40,529 40,789 Total long-term debt 2,848,705 2,853,524 Current portion of long-term debt (25,931) (25,921) Total long-term debt, net $ 2,822,774 $ 2,827,603
Schedule of Long-Term Debt, Carrying Values and Estimated Fair Values	The estimated fair value of Station LLC’s long-term debt compared with its carrying amount is presented below (amounts in millions): March 31, December 31, 2021 Aggregate fair value $ 2,750 $ 2,887 Aggregate carrying amount 2,849 2,854

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Reconciliation of Net Income and Changes to Noncontrolling Interest	Net Income (Loss) Attributable to Red Rock Resorts, Inc. and Transfers from (to) Noncontrolling Interests The table below presents the effect on Red Rock Resorts, Inc. stockholders’ equity from net income (loss) and transfers from (to) noncontrolling interests (amounts in thousands): Three Months Ended 2022 2021 Net income (loss) attributable to Red Rock Resorts, Inc. $ 48,346 $ (64,778) Transfers from (to) noncontrolling interests: Exchanges of noncontrolling interests — 598 Rebalancing of ownership percentage between the Company and noncontrolling interests in Station Holdco 3,667 (151) Net transfers from noncontrolling interests 3,667 447 Change from net income (loss) attributable to Red Rock Resorts, Inc. and net transfers from noncontrolling interests $ 52,013 $ (64,331)

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	The following table presents information about the Company’s share-based compensation awards: Restricted Class A Stock Options Shares Weighted-average grant date fair value Shares Weighted-average exercise price Outstanding at January 1, 2022 392,386 $ 28.47 6,562,539 $ 25.67 Activity during the period: Granted 214,413 47.33 1,121,407 47.34 Vested/exercised (a) (152,052) 28.54 (142,813) 23.75 Forfeited/expired — — (14,073) 23.43 Outstanding at March 31, 2022 454,747 $ 37.34 7,527,060 $ 28.93 _______________________________________________________________ (a) Stock options exercised included 87,168 options that were not converted into shares due to net share settlements to cover the aggregate exercise price and employee withholding taxes.

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings (loss) per share is presented below (amounts in thousands): Three Months Ended 2022 2021 Net income (loss) $ 92,245 $ (106,563) Less: net (income) loss attributable to noncontrolling interests (43,899) 41,785 Net income (loss) attributable to Red Rock, basic 48,346 (64,778) Effect of dilutive securities 34,680 — Net income (loss) attributable to Red Rock, diluted $ 83,026 $ (64,778) Three Months Ended 2022 2021 Weighted average shares of Class A common stock outstanding, basic 61,005 70,728 Effect of dilutive securities 46,696 — Weighted average shares of Class A common stock outstanding, diluted 107,701 70,728
Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share	The calculation of diluted earnings (loss) per share of Class A common stock excluded the following potentially dilutive shares that were outstanding at March 31, 2022 and 2021, respectively, because their inclusion would have been antidilutive (amounts in thousands): Three Months Ended 2022 2021 Shares of Class B common stock and LLC Units exchangeable for Class A common stock — 45,986 Stock options 1,164 7,408 Unvested restricted shares of Class A common stock 25 437

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The Company utilizes Adjusted EBITDA as its primary performance measure. The Company’s segment information and a reconciliation of net income (loss) to Adjusted EBITDA are presented below (amounts in thousands). Three Months Ended 2022 2021 Net revenues Las Vegas operations: Casino $ 279,771 $ 259,938 Food and beverage 65,699 46,872 Room 36,772 21,944 Other (a) 17,275 13,842 Management fees 213 221 Las Vegas operations net revenues 399,730 342,817 Native American management: Management fees — 8,087 Reportable segment net revenues 399,730 350,904 Corporate and other 1,906 1,715 Net revenues $ 401,636 $ 352,619 Net income (loss) $ 92,245 $ (106,563) Adjustments Depreciation and amortization 33,425 54,255 Share-based compensation 3,505 2,741 Write-downs and other, net 10,180 260 Asset impairment — 169,733 Interest expense, net 26,674 27,267 Loss on extinguishment of debt — 8,140 Provision for income tax 12,719 217 Other — 599 Adjusted EBITDA (b) $ 178,748 $ 156,649 Adjusted EBITDA Las Vegas operations $ 194,604 $ 160,680 Native American management (2,196) 7,604 Reportable segment Adjusted EBITDA 192,408 168,284 Corporate and other (13,660) (11,635) Adjusted EBITDA $ 178,748 $ 156,649 _______________________________________________________________ (a) Includes tenant lease revenue of $4.4 million and $2.7 million for the three months ended March 31, 2022 and 2021, respectively. Revenue from tenant leases is accounted for under the lease accounting guidance and included in Other revenues in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). (b) Adjusted EBITDA includes net income (loss) plus depreciation and amortization, share-based compensation, write-downs and other, net, asset impairment, interest expense, net, loss on extinguishment of debt, provision for income tax and other.

Organization, Basis of Presen_3

Organization, Basis of Presentation and Significant Accounting Policies (Details) $ in Thousands	Mar. 31, 2022USD ($)Casino_Property	Dec. 31, 2021USD ($)
Land held for development | $	$ 237,335	$ 237,335
Disposal Group, No Longer Held-for-sale, Not Discontinued Operations
Land held for development | $		$ 50,600
Major Hotel Casino Properties | Wholly Owned Properties
Number of casino properties	9
Major Hotel Casino Properties | Wholly Owned Properties | Facility Closing
Number of casino properties	3
Smaller Casino Properties
Number of casino properties	10
Smaller Casino Properties | Partially Owned Properties
Number of casino properties	3
Parent ownership percentage (unconsolidated)	50.00%
Station Holdco | Red Rock Resorts | Non-Voting Units
Parent ownership percentage (consolidated)	58.00%
Station Casinos LLC | Red Rock Resorts | Voting Units
Parent ownership percentage (consolidated)	100.00%

Noncontrolling Interest in St_3

Noncontrolling Interest in Station Holdco (Details) - shares	Mar. 31, 2022	Dec. 31, 2021
Noncontrolling Interest [Line Items]
Units outstanding (in units)	110,458,677	110,411,052
Total ownership percentage (consolidated)	100.00%	100.00%
Class A common stock | Red Rock Resorts
Noncontrolling Interest [Line Items]
Units outstanding (in units)	64,472,873	64,425,248
Parent ownership percentage (consolidated)	58.40%	58.40%
Class B common stock | LLC Unit Holders
Noncontrolling Interest [Line Items]
Units outstanding (in units)	45,985,804	45,985,804
Noncontrolling ownership percentage (consolidated)	41.60%	41.60%

Native American Development - N

Native American Development - North Fork (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)aTable_GamesSlot_Machines	Dec. 31, 2021USD ($)
Development and Management Agreements, Native American [Line Items]
Native American development costs	$ 35,234	$ 34,094
North Fork Rancheria of Mono Indians
Development and Management Agreements, Native American [Line Items]
Number of table games | Table_Games	40
Reimbursable advances for Native American development	$ 50,300
Native American development costs	$ 35,200
Development fee, percent fee	4.00%
Property management fee, percent fee	30.00%
Management agreement, term	7 years
Development agreement, term	7 years
Estimated period to begin construction	6 months
North Fork Rancheria of Mono Indians | Minimum
Development and Management Agreements, Native American [Line Items]
Number of slot machines | Slot_Machines	2,000
Estimated costs for Native American development projects	$ 350,000
Estimated period after construction begins, facility is completed and open for business	15 months
Successful project completion	75.00%
North Fork Rancheria of Mono Indians | Maximum
Development and Management Agreements, Native American [Line Items]
Number of slot machines | Slot_Machines	2,500
Estimated costs for Native American development projects	$ 400,000
Estimated period after construction begins, facility is completed and open for business	18 months
Successful project completion	85.00%
North Fork Rancheria of Mono Indians | Land Held for Development
Development and Management Agreements, Native American [Line Items]
Area of land | a	305

Other Accrued Liabilities (Deta

Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accrued Liabilities, Current [Abstract]
Rewards Program liability	$ 12,435	$ 12,711
Advance deposits and future wagers	14,560	15,897
Unpaid wagers, outstanding chips and other customer-related liabilities	22,003	21,963
Accrued payroll and related	35,917	30,019
Accrued gaming and related	27,385	25,372
Construction payables and equipment purchase accruals	24,200	15,437
Operating lease liabilities, current portion	3,081	2,976
Other	29,295	21,999
Other accrued liabilities	$ 168,876	$ 146,374

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-term Instruments (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Current portion of long-term debt	$ (25,931,000)	$ (25,921,000)
Total long-term debt, net	2,822,774,000	2,827,603,000
Station Casinos LLC
Debt Instrument [Line Items]
Long-term debt	2,848,705,000	2,853,524,000
Current portion of long-term debt	(25,931,000)	(25,921,000)
Total long-term debt, net	2,822,774,000	2,827,603,000
Station Casinos LLC | Line of Credit | Term Loan B Facility, Due February 7, 2027
Debt Instrument [Line Items]
Long-term debt	1,461,047,000	1,463,731,000
Unamortized discount and deferred issuance costs	$ 23,700,000	$ 24,900,000
Effective interest rate (as a percent)	2.71%	2.50%
Station Casinos LLC | Line of Credit | Term Loan A Facility, Due February 7, 2025
Debt Instrument [Line Items]
Long-term debt	$ 168,591,000	$ 170,819,000
Unamortized discount and deferred issuance costs	$ 1,500,000	$ 1,600,000
Effective interest rate (as a percent)	1.96%	1.61%
Station Casinos LLC | Revolving Credit Facility | Revolving Credit Facility Due February 7, 2025
Debt Instrument [Line Items]
Long-term debt	$ 0	$ 0
Station Casinos LLC | Senior Notes | 4.625% Senior Notes, Due December 1, 2031
Debt Instrument [Line Items]
Long-term debt	494,134,000	494,015,000
Unamortized discount and deferred issuance costs	$ 5,900,000	$ 6,000,000
Stated interest rate (as a percent)	4.625%	4.625%
Station Casinos LLC | Senior Notes | 4.50% Senior Notes, Due February 15, 2028
Debt Instrument [Line Items]
Long-term debt	$ 684,404,000	$ 684,170,000
Unamortized discount and deferred issuance costs	$ 6,400,000	$ 6,600,000
Stated interest rate (as a percent)	4.50%	4.50%
Station Casinos LLC | Other Long-term Debt
Debt Instrument [Line Items]
Long-term debt	$ 40,529,000	$ 40,789,000
Unamortized discount and deferred issuance costs	$ 300,000
Weighted average interest rate (as a percent)	3.82%

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) - Station Casinos LLC $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)Rate	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
Long-term Debt | $	$ 2,848,705	$ 2,853,524
Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Aggregate fair value of long-term debt | $	2,750,000	2,887,000
Line of Credit | Term Loan B Facility, Due February 7, 2027
Debt Instrument [Line Items]
Long-term Debt | $	$ 1,461,047	1,463,731
Line of Credit | Term Loan B Facility, Due February 7, 2027 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate	2.25%
Line of Credit | Term Loan B Facility, Due February 7, 2027 | Base Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate	1.25%
Line of Credit and Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Interest Coverage Ratio	2.50
Line of Credit and Revolving Credit Facility | Maximum | First Period
Debt Instrument [Line Items]
Consolidated Total Leverage Ratio	6.25
Line of Credit and Revolving Credit Facility | Maximum | Last Period
Debt Instrument [Line Items]
Consolidated Total Leverage Ratio	5.25
Line of Credit and Revolving Credit Facility | Revolving Credit Facility and Term Loan A Facility, Due February 7, 2025 | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate	1.50%
Line of Credit and Revolving Credit Facility | Revolving Credit Facility and Term Loan A Facility, Due February 7, 2025 | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate	1.75%
Line of Credit and Revolving Credit Facility | Revolving Credit Facility and Term Loan A Facility, Due February 7, 2025 | Base Rate | Minimum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate	0.50%
Line of Credit and Revolving Credit Facility | Revolving Credit Facility and Term Loan A Facility, Due February 7, 2025 | Base Rate | Maximum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate	0.75%
Revolving Credit Facility | Revolving Credit Facility Due February 7, 2025
Debt Instrument [Line Items]
Debt Instrument, Unused Borrowing Capacity, Amount | $	$ 1,000,000
Outstanding Letters of Credit, Amount | $	29,400
Long-term Debt | $	$ 0	$ 0

Stockholders' Equity - Changes

Stockholders' Equity - Changes in ownership of Station Holdco LLC (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Changes in ownership of Station Holdco LLC [Line Items]
Net income (loss) attributable to Red Rock Resorts, Inc.	$ 48,346	$ (64,778)
Exchanges of noncontrolling interests		(2,822)
Red Rock Resorts, Inc. stockholders' equity
Changes in ownership of Station Holdco LLC [Line Items]
Net income (loss) attributable to Red Rock Resorts, Inc.	48,346	(64,778)
Exchanges of noncontrolling interests	0	598
Rebalancing of ownership percentage between the Company and noncontrolling interests in Station Holdco	3,667	(151)
Net transfers from noncontrolling interests	3,667	447
Change from net income (loss) attributable to Red Rock Resorts, Inc. and net transfers from noncontrolling interests	$ 52,013	$ (64,331)

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	May 03, 2022	Mar. 31, 2022	Mar. 31, 2021
Class of Stock [Line Items]
Stock Repurchased and Retired During Period, Value		$ 10,774	$ 11,712
Class A common stock
Class of Stock [Line Items]
Common Stock, Dividends, Per Share, Declared		$ 0.25
Common Stock, Dividends, Per Share, Cash Paid		$ 0.25	$ 0
Class A common stock | Subsequent Event [Member]
Class of Stock [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.25
Distributions declared per LLC Unit (in dollars per unit)	$ 0.25
Equity Repurchase Program
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount		$ 300,000
Stock Repurchased and Retired During Period, Shares		184,793	382,602
Stock Repurchased and Retired During Period, Value		$ 8,800	$ 11,200
Stock Repurchased and Retired During Period, Weighted Average Price per Share		$ 47.77	$ 29.39
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 145,600

Share-based Compensation Awards

Share-based Compensation Awards Under Equity Incentive Plan (Details) - Class A common stock	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Restricted stock
Restricted Class A Common Stock
Restricted stock, balance at beginning of the period (in shares)	392,386
Restricted stock, granted in period (in shares)	214,413
Restricted stock, vested in period (in shares)	(152,052)
Restricted stock, forfeited in period (in shares)	0
Restricted stock, balance at end of the period (in shares)	454,747
Weighted-average grant date fair value
Weighted average grant date fair value, restricted stock balance at the beginning of the period (in usd per share) | $ / shares	$ 28.47
Weighted average grant date fair value, restricted stock granted (in usd per share) | $ / shares	47.33
Weighted average grant date fair value, restricted stock vested (in usd per share) | $ / shares	28.54
Weighted average grant date fair value, restricted stock forfeited or expired (in usd per share | $ / shares	0
Weighted average grant date fair value, restricted stock balance at the end of the period (in usd per share) | $ / shares	$ 37.34
Employee stock option
Stock Options
Options, balance at beginning of the period (in shares)	6,562,539
Options, granted in period (in shares)	1,121,407
Options, exercised in period (in shares)	(142,813)	[1]
Options, forfeited or expired in period (in shares)	(14,073)
Options, balance at end of the period (in shares)	7,527,060
Options, exercised in period but not converted into shares	87,168
Weighted-average exercise price
Weighted average exercise price, options balance at beginning of the period (in usd per share) | $ / shares	$ 25.67
Weighted average exercise price, options granted in period (in usd per share) | $ / shares	47.34
Weighted average exercise price, exercised in period (in usd per share) | $ / shares	23.75
Weighted average exercise price, options forfeited or expired in period (in usd per share) | $ / shares	23.43
Weighted average exercise price, options balance at end of the period (in usd per share) | $ / shares	$ 28.93
[1]	Stock options exercised included 87,168 options that were not converted into shares due to net share settlements to cover the aggregate exercise price and employee withholding taxes.

Share-based Compensation Narrat

Share-based Compensation Narrative (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 3,505	$ 2,741
Compensation cost not yet recognized	$ 54,900
Compensation cost not yet recognized, period for recognition	3 years 4 months 24 days
Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	23.6
Number of shares available for grant (in shares)	11.7

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Effective Income Tax Rate Reconciliation
Effective income tax rate	12.10%	(0.20%)
Federal statutory income tax rate	21.00%
Components of Deferred Tax Assets and Liabilities
Deferred tax assets, valuation allowance	$ 4,800		$ 4,800
Unrecognized tax benefits	$ 2,500
Tax Receivable Agreement Liability
Realized tax benefits payable to related parties (as a percent of total realized tax benefits)	85.00%
Tax receivable agreement liability	$ 27,200		27,200
Recognition of tax receivable agreement liability resulting from exchanges of noncontrolling interests	0	$ (641)
Current portion of payable pursuant to tax receivable agreement	$ 6,664		0
London Interbank Offered Rate (LIBOR)
Tax Receivable Agreement Liability
Late payments, basis spread on variable rate at which interest is accrued	5.00%
Amounts resulting from assignment of TRA rights and obligations to the Company
Tax Receivable Agreement Liability
Current portion of payable pursuant to tax receivable agreement	$ 6,700
Entities related to Frank J. Fertitta III and Lorenzo J Fertitta
Tax Receivable Agreement Liability
Tax receivable agreement liability	$ 9,000		$ 9,000

Earnings (Loss) Per Share - Rec

Earnings (Loss) Per Share - Reconciliation of Numerators and Denominators (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net Income (Loss) Available to Common Stockholders, Diluted
Net income (loss)	$ 92,245	$ (106,563)
Less: net (income) loss attributable to noncontrolling interests	(43,899)	41,785
Net income (loss) attributable to Red Rock, basic	48,346	(64,778)
Effect of dilutive securities	34,680	0
Net income (loss) attributable to Red Rock, diluted	$ 83,026	$ (64,778)
Weighted Average Number of Shares Outstanding Reconciliation
Weighted average shares of Class A common stock outstanding, basic	61,005	70,728
Effect of dilutive securities	46,696	0
Weighted average shares of Class A common stock outstanding, diluted	107,701	70,728

Earnings (Loss) Per Share - Ant

Earnings (Loss) Per Share - Antidilutive Shares Excluded from Computation of Diluted (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Class B common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	45,986
Employee stock option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,164	7,408
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	25	437

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands		3 Months Ended
		Mar. 31, 2022USD ($)Segment	Mar. 31, 2021USD ($)
Segment Reporting Information [Line Items]
Net revenues		$ 401,636	$ 352,619
Net income (loss)		92,245	(106,563)
Depreciation and amortization		33,425	54,255
Share-based compensation		3,505	2,741
Write-downs and other, net		10,180	260
Asset impairment		0	169,733
Interest expense, net		26,674	27,267
Loss on extinguishment of debt		0	8,140
Provision for income tax		12,719	217
Other		0	599
Adjusted EBITDA	[1]	178,748	156,649
Revenue from tenant leases		4,400	2,700
Casino
Segment Reporting Information [Line Items]
Net revenues		279,771	259,938
Food and beverage
Segment Reporting Information [Line Items]
Net revenues		65,699	46,872
Room
Segment Reporting Information [Line Items]
Net revenues		36,772	21,944
Other
Segment Reporting Information [Line Items]
Net revenues		19,181	15,557
Management fees
Segment Reporting Information [Line Items]
Net revenues		$ 213	8,308
Las Vegas Operations
Segment Reporting Information [Line Items]
Number of reportable segments | Segment		1
Net revenues		$ 399,730	342,817
Adjusted EBITDA	[1]	194,604	160,680
Las Vegas Operations | Casino
Segment Reporting Information [Line Items]
Net revenues		279,771	259,938
Las Vegas Operations | Food and beverage
Segment Reporting Information [Line Items]
Net revenues		65,699	46,872
Las Vegas Operations | Room
Segment Reporting Information [Line Items]
Net revenues		36,772	21,944
Las Vegas Operations | Other
Segment Reporting Information [Line Items]
Net revenues	[2]	17,275	13,842
Las Vegas Operations | Management fees
Segment Reporting Information [Line Items]
Net revenues		$ 213	221
Native American Management
Segment Reporting Information [Line Items]
Number of reportable segments | Segment		1
Adjusted EBITDA	[1]	$ (2,196)	7,604
Native American Management | Management fees
Segment Reporting Information [Line Items]
Net revenues		0	8,087
Reportable Segments
Segment Reporting Information [Line Items]
Net revenues		399,730	350,904
Adjusted EBITDA	[1]	192,408	168,284
Corporate and Other
Segment Reporting Information [Line Items]
Adjusted EBITDA	[1]	(13,660)	(11,635)
Corporate and Other | Other
Segment Reporting Information [Line Items]
Net revenues		$ 1,906	$ 1,715
[1]	Adjusted EBITDA includes net income (loss) plus depreciation and amortization, share-based compensation, write-downs and other, net, asset impairment, interest expense, net, loss on extinguishment of debt, provision for income tax and other.
[2]	Includes tenant lease revenue of $4.4 million and $2.7 million for the three months ended March 31, 2022 and 2021, respectively. Revenue from tenant leases is accounted for under the lease accounting guidance and included in Other revenues in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).