A strong final quarterĭespite some “headwinds” in the fourth quarter, Red Rock Resorts still managed to reach all-time high adjusted earnings and margins. The San Manuel Band of Mission Indians paid $650m for the properties. It also recently closed its sale of the Palms casino resort and the Palms Place condominiums. Red Rock Resorts currently has a number of gaming property development projects in the pipeline. The operator made its plans for the property officially public in July last year. However, opposition from local residents and the recession led to a long delay. Red Rock has had plans to develop a casino on the site since its purchase in 2000. He has asserted that the casino’s location, in the fastest-growing area in the Las Vegas valley, provides a “very favorable demographic profile.”Ĭooley added: “It’s a five-minute drive to approximately 125,000 people and no unrestricted gaming competitors within a five-mile radius of the project site.” Red Rock Resorts CFO Steve Cooley has expressed excitement over the new casino project. It is also looking to sell 23 acres of land behind the site of the casino for around $24m which will help fund the project. Red Rock has entered into a guaranteed-maximum price contract for the initial project phases. The estimated $750m cost of the casino includes everything from construction expenses, financial costs, pre-opening expenses, and design costs.

It will also feature over 200 hotel rooms, as well as numerous restaurants, expansive meeting space, a spa, and a sportsbook. This will include over 2,000 slot machines and 46 table games. The project will require 18-24 months to finish with the resulting casino floor space spanning more than 70,000 square feet. Over 2,000 slot machines and 46 table games

Red Rock Resorts chief financial officer Steve Cooley announced the beginning of the southwest Las Vegas project during a fourth-quarter earnings call on Wednesday. The gaming operator received the relevant permits from Clark County in January and has since begun the development of the Durango Station casino and hotel. Red Rock Resorts has broken ground on a new $750m casino in Las Vegas.

Red rock casino slot