v3.26.1
Stockholders' Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Stockholders' Equity
8.    Stockholders’ Equity
Net Income Attributable to Red Rock Resorts, Inc. and transfers to Noncontrolling Interests
The table below presents the effect on Red Rock Resorts, Inc. stockholders’ equity from net income and transfers to noncontrolling interests (amounts in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Net income attributable to Red Rock Resorts, Inc.$39,118 $56,404 $82,007 $101,153 
Transfers to noncontrolling interests:
Rebalancing of ownership percentage between the Company and noncontrolling interests in Station Holdco (2,943)(2,702)(1,824)(3,767)
Change from net income attributable to Red Rock Resorts, Inc. and net transfers to noncontrolling interests$36,175 $53,702 $80,183 $97,386 
Voting Rights
The holders of Class A common stock are entitled to one vote per share on all matters to be voted upon by the stockholders. Holders of shares of the Company’s Class A common stock and Class B common stock vote together as a single class on all matters presented to the Company’s stockholders for their vote or approval, except as otherwise required by applicable law or the Certificate of Incorporation.
The Continuing Owners of Station Holdco hold shares of Class B common stock in an amount equal to the number of LLC Units owned. Although Class B shares have no economic rights, they allow those owners of Station Holdco to exercise voting power at Red Rock, which is the sole managing member of Station Holdco.
Each outstanding share of Class B common stock that is held by a holder that, together with its affiliates, owned LLC Units representing at least 30% of the outstanding LLC Units following the IPO and, at the applicable record date, maintains direct or indirect beneficial ownership of at least 10% of the outstanding shares of Class A common stock (determined on an as-exchanged basis assuming that all of the LLC Units were exchanged for Class A common stock) is entitled to ten votes and each other outstanding share of Class B common stock is entitled to one vote.
The Fertitta Family Entities hold all of the Company’s issued and outstanding shares of Class B common stock that have ten votes per share. As a result, Frank J. Fertitta III and Lorenzo J. Fertitta, together with their affiliates, control any action requiring the general approval of the Company’s stockholders, including the election of the board of directors, the adoption of amendments to the Certificate of Incorporation and bylaws and the approval of any merger or sale of substantially all of the Company’s assets.
Dividends and Distributions
During the three and six months ended June 30, 2026, the Company declared and paid quarterly cash dividends of $0.26 and $0.52 per share of Class A common stock, respectively, which included $2.4 million and $4.8 million, respectively, paid to Fertitta Family Entities. During the three and six months ended June 30, 2025, the Company declared and paid quarterly cash dividends of $0.25 and $0.50 per share of Class A common stock, respectively, which included $2.3 million and $4.5 million, respectively, paid to Fertitta Family Entities.
Prior to the quarterly cash dividend payments, during the three and six months ended June 30, 2026, Station Holdco paid distributions to noncontrolling interest holders of $11.9 million and $23.8 million, respectively, which included $11.8 million and $23.6 million, respectively, paid to Fertitta Family Entities. During the three and six months ended June 30, 2025, Station Holdco paid distributions to noncontrolling interest holders of $11.5 million and $23.0 million respectively, which included $11.3 million and $22.7 million respectively, paid to Fertitta Family Entities. During the three months ended June 30, 2026 and 2025, Station Holdco paid tax distributions to noncontrolling interest holders of $12.5 million and $26.0 million, respectively, including $12.4 million and $25.6 million, respectively, paid to Fertitta Family Entities.
On August 4, 2026, the Company announced that it would pay a dividend of $0.26 per share to Class A shareholders of record as of September 15, 2026 to be paid on September 30, 2026, of which $2.4 million is expected to be paid to Fertitta Family Entities. Prior to the payment of the dividend, Station Holdco will make a cash distribution to all LLC Unit holders, including the Company, of $0.26 per LLC Unit, of which $11.8 million is expected to be paid to Fertitta Family Entities.
Special Dividends
In February 2026, the Company declared a special cash dividend of $1.00 per share of Class A common stock which was paid on February 27, 2026, and included $9.1 million paid to Fertitta Family Entities. Prior to the payment of the special dividend, Station Holdco made a cash distribution to all LLC Unit holders, including the Company, of $1.00 per unit, of which $45.4 million was paid to Fertitta Family Entities.
In May 2025, the Company declared a special cash dividend of $1.00 per share of Class A common stock which was paid on May 21, 2025, and included $9.1 million paid to Fertitta Family Entities. Prior to the payment of the special dividend, Station Holdco made a cash distribution to all LLC Unit holders, including the Company, of $1.00 per unit, of which $45.4 million was paid to Fertitta Family Entities.
Equity Repurchase Program
On October 27, 2025, the Company’s board of directors authorized the extension of the equity repurchase program through December 31, 2027 and authorized the repurchase of an additional $300.0 million of its Class A common stock, increasing the amount authorized for repurchases under the program to $900.0 million. During the six months ended June 30, 2026, the Company repurchased 635,657 shares of its Class A common stock for an aggregate purchase price of $38.3 million and a weighted average price per share of $60.32 in open market transactions. The company made no repurchases during the three months ended June 30, 2026. During the three and six months ended June 30, 2025, the Company repurchased 671,677 shares of its Class A common stock for an aggregate purchase price of $30.9 million and a weighted average price per share of $45.94 in open market transactions. At June 30, 2026, the remaining amount authorized for repurchase under the program was $486.0 million.