Station Casinos Durango Project Revealed, Company Refocuses to Locals

Station Casinos and its parent organization Red Rock Resorts (RRR) are finally divulging long-awaited details on its possible holiday resort on South Victoria de Durango Avenue at the 215 Beltway.

Stephen Cootey, executive vice chairperson and chief financial officer of RRR, told investors this calendar week that the accompany plans to split up earth on the Durango contrive inwards the first-class honours degree billet of 2022. While a summate investment funds cost hasn’t been determined, initial plans include to a greater extent than 100,000 square feet of gaming space, with o'er 2,000 expansion slot machines and 40 table games.

Cootey said the to-be-named holiday resort will lineament a state-of-the-art sportsbook, as good as a 200-room hotel and Little Joe full-service restaurants.

Station Casinos has owned the 71-acre secret plan of vacant desert shore since 2000. The 9-11 tragedies, Great Recession, and COVID-19 pandemic have impeded the gambling casino steadfastly from moving forwards with development. But dirt testament shortly move, Station says.

Palms Leaves, Locals Key

Station Casinos is controlled past billionaire brothers Lorenzo and Frank Fertitta III. RRR, the Fertittas’ publicly traded holding unit, to boot owns a portion of Station.

Station Casinos dominates the local gambling casino marketplace inwards Southern Nevada.

The accompany tried its helping hand with the Strip market inward 2016 by purchasing the Palms Casino Resort for $312.5 million. Station and RRR dumped another $690 million into the just-off-the-Strip complex. Amid dismal operating revenue, and and then its mandatory gag rule in March of 2020 because of the coronavirus, RRR opted not to reopen the property, and instead put it on the market.

Station found a buyer inward the San Manuel Band of Mission Indians. The $650 trillion cut-rate sale was deemed a credit prescribed for Station by Moody’s Investors Service. The ratings unwaveringly said the Palms disposal strengthens Station’s equilibrise sheet, and allows it to centering on what it does best: cater to locals.

Station’s Victoria de Durango contrive site is quintet miles from the nearest electric current cassino in operation.

Our primary quill focal point compensate now has really been on Durango, which we opine is a great development chance inwards the to the highest degree underserved part of the Las Vegas Valley,” Frank Fertitta III said this week.

Gaming psychoanalyst Joseph Greff of JPMorgan said inwards a remark that Station’s Victoria de Durango throw will potential follow inward the neighborhood of $400 million. He says the investment is warranted by the quick surrounding surface area featuring a “high-income population base.”

Opening 2023-24

Cootey explained that Station Casinos’ end is to lead off act on the Victoria de Durango project sometime inward January, February, or March of 2022. Once construction begins, the troupe believes it testament have 18 to 24 months for the resort hotel to be finished.

On that clip line, the earliest the Victoria de Durango casino could unresolved would live in July 2023. The worst-case scenario, per the electric current contrive schedule, would be inward Mar of 2024.

Cootey believes Station Casinos’ futurity is lustrous because of its favourable position inward the Las Vegas locals’ market.

“We believe that we are unambiguously positioned to take advantage on the rattling favorable long-term demographic trends and high barriers to ledger entry that characterized the Las Vegas locals’ market,” Cootey concluded.