Red Rock announces new projects in Nevada, including two new resorts
Having just reported the strongest second quarter in its history, Red Rock Resorts has informed Nevada regulators of plans for several new projects in Nevada, including the expansion of Durango, a new resort south of the South Point Hotel Casino on Las Vegas Boulevard and another new project in west Henderson as part of its Inspirada master plan near the M Resort.
Stephen Coote, Executive Vice President and CFO, said: “We’re currently working on three projects simultaneously. Nevada has been the third fastest growing state in the past two decades. Most notably, 40 per cent of the new residents from California bring a higher income profile and greater spending power. The median household income in Clark County is expected to rise 7.1 per cent over the next five years.”
The first project is the continued development of Durango, which will see the operator expand its gaming floor, add more food and beverage options, and add more hotel rooms to take it forward as a large integrated casino resort.
Mr Cootey said: “This expansion will add over 25,000 square feet of additional casino space, including a new high-limit slot area and bar. In total, the project will introduce 230 new slot machines with 120 allocated to the high-limit room. As part of this phase, we are also building a new covered parking garage with nearly 2,000 spaces, which will enhance customer access and provide infrastructure flexibility to support future growth of the property.”
The second project will see a new resort developed on 123 acres south of the South Point Hotel Casino on Las Vegas Boulevard.
“It’s still in the conceptual stage and roughly going to be it’s the size of Red Rock,” Mr Cootey infomred. “We would start in phases and build out like what they did at Red Rock, Green Valley, and now at Durango.”
The third is a 63-acre site in west Henderson in the Inspirada master plan near the M Resort.
“These resorts are our sole focus, and we should be ready to announce something very soon to the public,” Mr Cootey added.
There are also plans in the pipeline to invest at Sunset Station, which hasn’t been renovated in 30 years, and Green Valley Ranch in Henderson, where there will be a room refresh.
“Sunset Station hasn’t been remodeled or refreshed in 30 years,” Mr Cootey said. “We now have a new competitor entering the market with Boyd. We also see the massive growth in Cadence, and thought the time was right to reinvest in the property. At our Sunset Station property, we are building up the success we are seeing with our recently renovated race and sportsbook and partial casino remodel by continuing to refresh the podium in order to better position the property to capture the continued growth in Henderson, including the master planned communities of Skye and Cadence, which are expected to total over 12,500 households upon final completion of both communities.
“As part of the project, we are adding an all-new country western bar and nightclub, a new Mexican restaurant, an all-new center bar along with a completely renovated casino space. Work continues to move forward on this project and the total cost of the renovation is expected to be approximately $53m.”
“At our Green Valley Ranch property, we are expected to start a complete refresh of our room and suite product as well as our convention space, aligning the hotel with our most recent renovations made to our well-received high-limit table and slot rooms at the property.”
Another project is underway in North Fork. Mr Cootey said: “We anticipate completing the slab on grade in July and closing the facility by October, keeping us on track for a mid-2026 resort opening. The total all-in project is expected to be approximately $750m and is currently operated under a guaranteed maximum price contract. When complete, this best-in-class resort will include approximately 100,000 square feet of casino space with over 2,400 slot machines, including 2,000 Class III games, 42 table games and two food and beverage outlets and a food court with many exciting options.”
