Red Rock Resorts, Inc. (NASDAQ:RRR) Q4 2023 Earnings Call Transcript

Lorenzo Fertitta: Yes, Lorenzo, I mean, really consistent with what we’ve communicated before. We’re going to get, obviously we got Durango open. We’re going to continue to dial in the efficiencies of the property. We are certainly working diligently on a Phase 2 plan that we’re actually pretty far along on the programming and putting on the finer details of adding some entertainment amenities potentially adding to the number of hotel rooms, adding a couple more food and beverage options as well. And then we’re also pretty far along as far as the initial planning for Inspirada, which is out in Green Valley. And actually, we’re fast and furious working on North Fork as well. So we got plenty on our hands right now, actively being worked on from a development standpoint.

But like I said, we’re going to get Durango dialed in before we announce kind of what the next move is. But the good thing is the company has more optionality from a growth standpoint with deals and pieces of real estate that we control and we can bring online whenever we think it fits, but really consistent where we’ve been in the past. So we’re just more to come as we kind of have a little bit more time under our belt with Durango.

John DeCree: Perfect. Thanks so much, guys, and congratulations on the opening.

Frank Fertitta: Thank you.

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

Stephen Cootey: Thank you, everyone, for joining us, and we look forward to talking to you next quarter. Take care.

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