[SCHEDULE 13G/A] Red Rock Resorts, Inc. SEC Filing

Rhea-AI Filing Summary

Baron Capital Group and affiliated filers report a material stake in Red Rock Resorts. The filing discloses that Baron Capital Group, BAMCO, Baron Capital Management, Ronald Baron and Baron Small Cap Fund beneficially own 12,269,004 shares of Red Rock Resorts Class A common stock, representing 20.42% of the class. The group reports shared voting power of 12,136,978 and shared dispositive power of 12,269,004.

Corporate structure and intent are stated. BAMCO and BCM are identified as subsidiaries of Baron Capital Group and Ronald Baron is described as owning a controlling interest in the group. The filers certify the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

Positive

• Material disclosed stake: Baron Group and affiliates beneficially own 12,269,004 shares (20.42%) of Red Rock Resorts Class A common stock.
• Passive intent certified: Filers state the securities were acquired and are held in the ordinary course and were not acquired to change or influence control of the issuer.

Negative

• None.

Insights

Financial Analyst

TL;DR: Baron group discloses a 20.42% beneficial stake in Red Rock Resorts; material position but declared passive for control purposes.

The disclosed holding of 12,269,004 shares (20.42%) is a substantial, reportable position and therefore material to investors monitoring ownership concentration. Reported shared voting and dispositive power figures provide clarity on the mechanics of influence: 12,136,978 shares of shared voting power and 12,269,004 shares of shared dispositive power. The filing explicitly states the securities were acquired and are held in the ordinary course and not to effect a change in control, which frames the position as passive under Schedule 13G. Impact on valuation or strategy is not stated in the filing.

Corporate Governance Expert

TL;DR: Large disclosed stake with shared voting power; filers assert non-control intent, so governance implications should be monitored but are not declared.

The filing names the reporting entities and their relationships: BAMCO and BCM are subsidiaries of Baron Capital Group, and Ronald Baron is identified as owning a controlling interest in the parent. The group’s certification that the holdings were not acquired to change or influence control is a key governance statement included in Item 10. This disclosure is material for board composition and shareholder engagement monitoring, but the filing contains no explicit proposals, nominations, or plans to alter governance.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 11)

Red Rock Resorts, Inc.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

75700L108

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 75700L108

1

Names of Reporting Persons

BAMCO INC /NY/

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 10,537,560.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 10,669,586.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

10,669,586.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

17.76 %

12

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13G

CUSIP No. 75700L108

1

Names of Reporting Persons

Baron Capital Group, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,136,978.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,269,004.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,269,004.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

20.42 %

12

Type of Reporting Person (See Instructions)

CO, HC

SCHEDULE 13G

CUSIP No. 75700L108

1

Names of Reporting Persons

Baron Capital Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,599,418.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,599,418.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,599,418.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.66 %

12

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13G

CUSIP No. 75700L108

1

Names of Reporting Persons

Ronald Baron

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,136,978.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,269,004.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,269,004.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

20.42 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP No. 75700L108

1

Names of Reporting Persons

Baron Small Cap Fund

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MASSACHUSETTS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,100,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,100,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,100,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.16 %

12

Type of Reporting Person (See Instructions)

IV

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Red Rock Resorts, Inc.
(b)	Address of issuer's principal executive offices: 1505 SOUTH PAVILION CENTER DRIVE, LAS VEGAS, NV 89135
Item 2.
(a)	Name of person filing: Baron Capital Group, Inc. ("BCG"), BAMCO, Inc. ("BAMCO"), Baron Capital Management, Inc. ("BCM"), Ronald Baron, Baron Small Cap Fund ("BSC")
(b)	Address or principal business office or, if none, residence: 767 Fifth Avenue, 49th Floor, New York, NY 10153
(c)	Citizenship: BCG, BAMCO and BCM are New York corporations. Ronald Baron is a citizen of the United States. BSC is a series of a Massachusetts Business Trust.
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP No.: 75700L108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 12,269,004
(b)	Percent of class: 20.42 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 12,136,978
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 12,269,004
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The advisory clients of BAMCO and BCM have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Issuer's common stock in their accounts. To the best of the Filing Persons' knowledge, no such person has such interest relating to more than 5% of the outstanding class of securities.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. BAMCO and BCM are subsidiaries of BCG. BSC is an advisory client of BAMCO. Ronald Baron owns a controlling interest in BCG.
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. See Item 3.
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BAMCO INC /NY/

Signature:	/s/ Ronald Baron
Name/Title:	Chairman and CEO
Date:	08/14/2025

Baron Capital Group, Inc.

Signature:	/s/ Ronald Baron
Name/Title:	Chairman and CEO
Date:	08/14/2025

Baron Capital Management, Inc.

Signature:	/s/ Ronald Baron
Name/Title:	Chairman and CEO
Date:	08/14/2025

Ronald Baron

Signature:	/s/ Ronald Baron
Name/Title:	Individually
Date:	08/14/2025

Baron Small Cap Fund

Signature:	/s/ Ronald Baron
Name/Title:	CEO
Date:	08/14/2025

FAQ

How many Red Rock Resorts (RRR) shares does Baron Capital Group report owning?

12,269,004 shares beneficially owned, representing 20.42% of Class A common stock.

Which entities filed the Schedule 13G/A for RRR?

Baron Capital Group, Inc.; BAMCO, Inc.; Baron Capital Management, Inc.; Ronald Baron; Baron Small Cap Fund.

What voting and dispositive power does the group report for RRR?

Shared voting power: 12,136,978 shares; Shared dispositive power: 12,269,004 shares; Sole voting/dispositive power: 0 shares.

Do the filers state an intent to influence control of Red Rock Resorts?

No. The filers certify the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control.

Are any filers subsidiaries or related parties?

Yes. BAMCO and BCM are subsidiaries of Baron Capital Group, Ronald Baron owns a controlling interest in Baron Capital Group, and Baron Small Cap Fund is an advisory client of BAMCO.