Red Rock Resorts, Inc. (NASDAQ:RRR) Q1 2024 Earnings Call Transcript

And what we’re trying to demonstrate is that we are a development company. That’s really what our core principles are, what we’re capable of doing. And by taking a raw piece of dirt and converting that into an operating asset, we feel like that we’re literally creating billions of dollars of value, for instance, in the case of a Durango. So trying to think about what the future of this company holds and what the embedded growth in the company is all with opportunities that we own and control. And we can bring online whenever we want. They’re not going away. So we think that there’s a lot of value there.

Frank Fertitta: Durango is performing great right out of the box, but there’s like 4,500 new housing units planned or under construction currently in that ZIP code. And that’s kind of the built-in growth that’s going to continue to make Durango better and better and better.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Steve Cootey for any closing remarks.

Stephen Cootey: Well, thank you, everyone, for joining the call today, and we look forward to talking to you about 90 days. Take care.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.