Red Rock Resorts owns and operates casinos and entertainment properties in Las Vegas through its subsidiary Station Casinos, targeting local residents rather than tourists. Red Rock's core portfolio includes seven major resort properties — Red Rock Casino, Green Valley Ranch, Durango Casino & Resort, Palace Station, Boulder Station, Sunset Station, and Santa Fe Station — which are full-service resorts built around large gaming floors, with hotels, restaurants, movie theaters, and bowling alleys. Beyond these flagships, Red Rock operates 13 smaller neighborhood gaming venues under the Wildfire and Seventy Six Tavern brands. The locals model is built on high-frequency, repeat visitation — over 50% of carded revenue comes from guests visiting more than eight times per month — which contrasts sharply with strip casinos that depend on tourism and conventions. Gaming drives the majority of revenue, with slots accounting for roughly 80% of casino revenue. Non-gaming amenities like restaurants and hotels serve primarily as traffic drivers rather than standalone profit centers. Red Rock owns its properties outright, eliminating rent expense and providing full operational control. The company's growth strategy rests on reinvesting in existing properties — including a ~$385M Durango expansion and a ~$200M Green Valley Ranch hotel refresh — and developing new casinos on its owned ~454-acre land bank of gaming-entitled sites across the Las Vegas Valley. Red Rock is also developing the North Fork Rancheria tribal casino near Fresno, California, expected to open in Q4 2026, which Red Rock will manage for a 30% fee on net income.