This paper contributes insights into stakeholder theory in hallmark event tourism and the implications for engaging primary stakeholders in further tourism management settings. The tangible and symbolic tourism benefits instilled in destinations by hallmark events are well-documented; with destination managers increasingly adopting event portfolio approaches to nurture and develop existing and new hallmark events. Nevertheless, limited understanding exists of how stakeholders engage with hallmark events over time; their lived experiences in event tourism; and consequent management implications. This paper uncovers multiple and shifting roles of primary stakeholders in a long-established hallmark event tourism context (Edinburgh's Festival Fringe). It presents a typology identifying five primary stakeholder roles. Phenomenological interviews with twenty-one primary stakeholders revealed that most fulfilled multiple roles. Existing concurrently and historically, these differed throughout stakeholders' lived experiences and engagement. In its findings, this paper extends knowledge of stakeholders' roles in event tourism and implications in further tourism management settings.