What smart money is saying about Red Rock Resorts, Inc.
2 funds in our archive have pitched Red Rock Resorts, Inc. — most recently Baron Focused Growth Fund in September 2026.
Red Rock Resorts, Inc. is a company that develops and operates casino and entertainment properties throughout the United States. This is primarily achieved through its investments in Station Holdco and Station LLC. The business is categorized into two main divisions: Las Vegas Operations and Native American Management. In the Las Vegas regional market, the company owns and runs a total of 19 gaming facilities, comprising 9 larger entertainment complexes and 10 smaller casinos. Additionally, Red Rock Resorts manages the Graton Resort & Casino, situated in northern California. By December 31, 2021, its Las Vegas properties featured roughly 13,894 slot machines, 240 table games, and 3,081 hotel rooms. The enterprise, originally founded in Las Vegas, Nevada, in 1976, officially became Red Rock Resorts, Inc. in January 2016, after operating for years as Station Casinos Corp.
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Position history
Between Q4 2024 and Q3 2026, 17 fund letters reported a position in Red Rock Resorts, Inc., with no move described.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 6 | 0 | 0 | 1 |
| Q2 2026 | 8 | 0 | 0 | 1 |
| Q1 2026 | 1 | 0 | 0 | 0 |
| Q4 2024 | 2 | 0 | 0 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 17 positions
- September 2026
“• Gaming development and management company Red Rock Resorts underperformed amid construction-related disruptions and inflationary concerns tied to elevated oil prices.”
Red Rock Resorts, Inc. - September 2026
“• Gaming development and management company Red Rock Resorts underperformed amid construction-related disruptions and inflationary concerns tied to elevated oil prices.”
Red Rock Resorts, Inc. - September 2026
“• Gaming development and management company Red Rock Resorts underperformed amid construction-related disruptions and inflationary concerns tied to elevated oil prices.”
Red Rock Resorts, Inc. - September 2026
“• Gaming development and management company Red Rock Resorts underperformed amid construction-related disruptions and inflationary concerns tied to elevated oil prices.”
Red Rock Resorts, Inc. - September 2026
“Non-REIT Real Estate Companies (10.6%) • While the Fund emphasizes REITs, we retain flexibility to invest in non-REIT real estate companies, which we typically limit to approximately 25% of net assets. At times these investments may offer more attractive growth, income, valuation, and share price appreciation potential relative to traditional REITs. • Current non-REIT holdings include AAON, Inc., Marriott Vacations Worldwide Corporation, Meritage Homes Corporation, Hyatt Hotels Corporation, Vail Resorts, Inc., Red Rock Resorts, Inc., and Brookfield Infrastructure Corporation.”
Red Rock Resorts, Inc. - September 2026
“Shares of Las Vegas Locals casino operator Red Rock decreased 23.5% in the third quarter and hurt performance by 73 bps as investors grew concerned that higher interest rates, inflation, and oil prices could slow market growth. However, despite ongoing construction disruption, the market continues to grow at a low single-digit rate on an adjusted basis. Red Rock is gaining market share through ongoing property renovations while generating strong returns on invested capital.”
Red Rock Resorts, Inc. - HoldsBaron Small Cap FundJune 2026
Listed in Baron Small Cap Fund’s reported holdings.
Red Rock Resorts, Inc. - June 2026
Listed in Baron First Principles ETF’s reported holdings.
Red Rock Resorts, Inc. - June 2026
“Shares of Las Vegas Locals casino operator Red Rock Resorts increased 22.4% in the second quarter and helped performance by 67 bps as construction disruption dissipated and investors looked ahead to the benefits of the company's recent investments in its resorts.”
Red Rock Resorts, Inc. - HoldsBaron Partners FundJune 2026
Listed in Baron Partners Fund’s reported holdings.
Red Rock Resorts, Inc. - June 2026
Listed in Baron Small Cap Strategy’s reported holdings.
Red Rock Resorts, Inc. - HoldsBaron Partners FundJune 2026
Listed in Baron Partners Fund’s reported holdings.
Red Rock Resorts, Inc. - HoldsBaron CapitalJune 2026
Listed in Baron Capital’s reported holdings.
Red Rock Resorts, Inc. - June 2026
“• Locals’ casino owner and operator Red Rock Resorts has continued to execute and produce solid results.”
Red Rock Resorts, Inc. - HoldsBaron Growth FundMarch 2026
“Top performing stocks owned less than 10 years Year Acquired Cumulative Return Since Date Acquired (%) Annualized Return Since Date Acquired (%) Kinsale Capital Group, Inc. 2016 1,192.3 31.6 Houlihan Lokey, Inc. 2017 312.1 18.3 Red Rock Resorts, Inc. 2016 283.1 14.5”
Red Rock Resorts, Inc. - December 2024
“Among our bottom Q4 contributors were Red Rock Resorts and Ashland.”
Red Rock Resorts, Inc. - December 2024
“Among our bottom Q4 contributors were Red Rock Resorts and Ashland.”
Red Rock Resorts, Inc.
Fund coverage · 2 theses
- Baron Focused Growth FundSeptember 2026
Red Rock is a Las Vegas locals casino operator gaining market share with strong ROIC, a strong balance sheet and a trough valuation poised to expand as growth reaccelerates.
Read the full thesis - Baron Real Estate FundJune 2026
Red Rock Resorts, Inc. is a gaming growth company in Las Vegas Locals with portfolio expansion potential and an attractive valuation.
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