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Investor Presentaiton

| OPERATIONAL DISCIPLINE HAS LED TO HISTORICALLY HIGH MARGINS red rock resorts +900 bps 75% 66% Q3 2019 +700 bps 20% 13% Q3 2021 Q3 2019 Casino Margin 56% +600 bps Q3 2021 24% Food and Beverage Margin -100 bps 23% 62% Q3 2019 Q3 2021 Hotel Margin 22% Q3 2019 +2,100 bps 45% Q3 2021 Total EBITDA Margin Q3 2019 Q3 2021 SG&A Expense as % of Net Revenue(2) Company achieved target of over $200 million in annual cost savings (1) SG&A Includes corporate expense INVESTOR PRESENTATION November 2021 28

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