• Station Casino’s objectives are finally beginning to take shape after a lengthy period of planning. With specific plans for further expansions in Las Vegas-Nevada area and an exceedingly optimistic perspective, Red Rock makes this enormous undertaking appear simple.
• Four properties are being sold, and six new developments, including casinos and resorts, will replace them.
• The Durango project, which reportedly includes an 80,000-square-foot casino and a 200-plus-room hotel, is the one closest to start.

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New Developments in Las Vegas

Red Rock Resorts (RRR), the parent company of Station Casinos, is a publicly traded firm and hence hosts a quarterly earnings call. The intention to “double the footprint” of the corporation in Las Vegas dates back to at least the Q3 2021 Earnings Call, the transcript of which is still available on the website of The Motley Fool. 

Then, Lorenzo Fertitta, Vice Chairman of RRR, commented on the company’s expansion, noting that the objective is to “take the core of each property and sell off the surrounding real estate”

The concept of acquiring potential regulated land and investing at the correct time has been a cornerstone of the company’s planning, and according to the Las Vegas Review-Journal, the company’s Las Vegas footprint could be doubled by 2030. 

The research reveals that RRR is developing six new projects in order to achieve its aim of tripling its Las Vegas presence and based on past and present sentiments, executives and investors remain optimistic about the company’s prospects.

Growth Program

Among the six proposals, the so-called Durango project will likely be the one closest to the present. It was a proposal from 2008, and Station has owned the site since 2000, indicating that when the corporation purchases land, it would likely become a profitable investment in the future. The future resort in Durango will be located on South Durango Drive, hence the temporary name. 

According to plans approved by the Clark County Commission, we may anticipate a casino with a footprint of roughly 80,000 square feet and a hotel with more than 200 rooms to open in late 2023 or early 2024.

Other proposals reportedly include a comprehensive renovation of the 260-room Wild Wild West hotel-casino on Tropicana Avenue. This would necessitate the establishment’s closure and demolition prior to the construction of the new structure. 

Since July, it has become evident that three further properties will be demolished: the Texas Station, Fiesta Henderson, and Fiesta Rancho; nonetheless, their land is expected to be completely auctioned off. And a fourth establishment, the company’s Cactus Avenue location, completes the list of properties to be eliminated.

This may appear contradictory; the corporation is selling off four of its holdings; yet, this creates opportunities for the company to acquire fresh land and commence the remaining new developments on it. 

It is vital to highlight that even if RRR’s parent business has agreed to purchase the site, it will not immediately be used for new construction. With a strategy of purchasing and investing just when the moment is perfect, plus the company’s bullish view, it’s probably safe to assume so.