Station Casinos, a subsidiary of Red Rock Resorts is looking to develop a property on South Durango Drive in Las Vegas, an area considered “underserved” in the market.
Macquarie analyst Chad Beynon told CDC Gaming Reports, called the Durango location, “one of the remaining attractive return opportunities in the Las Vegas Valley, given its location, close-in population base and lack of competitive options.”
Station purchased 71 acres in 2000 in this location. It was originally going to open a casino resort there in 2008 until the Great Recession intervened.
In 2017 signage on the site advertised an upcoming Station Casino of 120,000 square feet and 1,000 rooms.
In Red Rock’s annual report last year it described the Durango property as having “excellent” visibility and freeway access with no competing casinos for several years.
Barry Jonas, a gaming analyst told CDC Gaming Reports that it was logical for Red Rock to be exploring new opportunities is a less developed part of the valley. Station Casinos reportedly owns about 323 of undeveloped property in the state in several parcels, valued at more than $238 million.
The company also has four casinos in Las Vegas that it has not reopened yet: Texas Station, Fiesta Henderson, Fiesta Rancho and the Palms. According to a filing with the SEC it doesn’t intend to reopen them this year.
