Station Casinos is continuing its plan to double its presence in Nevada before the decade ends. This has been more visible since the company’s CEO Frank Fertitta III made the call during the second-quarter earnings call.
The parent company’s (Red Rock Resorts) President, Scott Kreeger, talked with the Las Vegas Review-Journal, noting there was no more prominent casino than Station Casinos. He pointed out that the brand was the core of the business model.
Kreeger confirmed that Station Casinos had seen tremendous growth, especially in the past few years. He also believes that the next eight years are the best for his company to execute the road map to double its portfolio in Nevada.
Buying More Land
Station Casinos is always strategic. It purchases a parcel of land in a gaming-zoned area and waits for a favorable time to put up a gaming facility.
At the moment, the brand is completing the entitlement process for three parcels of land. There are 126 acres on Las Vegas Boulevard South, another 47 acres in the northwest OF Skye Canyon Community, and 45 acres in the southern valley’s Inspirada community.
Any of these lands is viable for Station Casinos` next project. The brand is currently working on its $750 million casino in Durango and will begin the next project once the current is done.
Other pieces of land belonging to Station Casinos include 66 acres at Losee Road in Sin City, 96 acres in the Wild Wild West site, and 58 acres at Flamingo Road and 215 Beltway. While these are prime for the next project, Station Casinos has not decided which sites will break ground first or what each project will look like.
Station Casinos Plans to Close Three Facilities
For a company expanding its portfolio, it sounds weird that it is demolishing three properties. However, Station Casinos has more reasons to demolish the properties than to keep them. These properties have shuttered since the beginning of the COVID-19 pandemic.
The company announced its plans to put down three properties in July 2022. These include the Texas Station, Fiesta Rancho, and Fiesta Henderson. Station Casinos planned to sell the land these facilities occupied and reinvent the money.
The brand bought a 126-acre land for $172.4 million, the southwest corner of Las Vegas Boulevard and Cactus Avenue. The brand’s parent company, Red Rocks Resorts, also announced it would close Wild Wild West casino on Interstate 15 and Tropicana Boulevard.
Last month’s press release revealed that Red Rock would demolish the casino building and combine the land with the adjacent 80 acres for a future project. Fiesta Rancho and Wild Wild West buildings are still up. However, demolition of the Texas Station and Fiesta Henderson has begun.
Durango Casino
Just eight miles away from these properties is Durango Casino. The construction of the $750 million casino began in March and is expected to end, paving the way for opening before the end of 2023.
The casino even celebrated the topping off of the Hotel Tower last weekend. The 80k square foot casino will have 46 table games, over 1500 slot machines, and a retail sportsbook.
It will also feature a swimming pool, a 200-room hotel, conventions and meeting venues, and four food and beverage venues. The casino is predicted to provide 1200 permanent jobs once completed.
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