Stations gets okay to build new casino hotel in Vegas

stations_gets_okay_to_build_new_casino_hotel_in_vegasThe southwest Las Vegas Valley in Clark County is experiencing rapid and sustained growth. Now, the Clark County Commission has approved plans for Stations Casinos to construct two hotel towers with over 450 rooms, entertainment venues and restaurants, as well as a casino of about 93,000 square feet – all on 50 acres of a 72-acre plot with water features.According to documents obtained from the county, the project would break ground in early 2022 and be completed in two roughly equal stages with Phase I opening by year’s end.Other large developments in the immediate vicinity include a $400 million Matter RE Group mixed use development called UnCommons across Durango Drive from the proposed casino resort. That under-construction development includes half a million square feet of office space, dining establishments, fitness centers and more than 800 residential units.Within a few miles, another development is also under construction on a 42-acre plot with 1,300 apartments and a quarter million square feet of commercial space. The cost of that project, Evora, is estimated to be about half a billion dollars.

Site long zoned for casino resort

The site has been approved for a new casino for almost a quarter of a century so zoning permissions were not too difficult to obtain. One of the issues the council addressed was the extensive use of water features on the properties, but it was found developers planned to use less than half the allotted 13,283 square feet to install 5 low-use water features such as cascading steps and planters. None of the features would be taller than 36 inches.Durango, a Station Casinos Resorts will be located about 15 minutes by car from the Las Vegas Strip, off the I-215 freeway. The location fits in with most of the other Stations casinos that cater to the locals market rather than inbound tourists. Stations Casinos is ultimately owned by Red Rock Resorts which has about a dozen casinos in the area including the Red Rocks Resort in Summerlin and Palms, which is located off-Strip across from the Rio. At least three of the company’s casinos have yet to reopen after gambling establishments in the state were shut down in 2020.

Red Rock Resorts assets inventory

The full list of Red Rock properties includes six parcels in Las Vegas comprising 315 acres of prime Nevada real estate, three for sale tracts including a 57 acre site in Las Vegas and 2 sites in Reno. Developed properties include:

  • Green Valley Ranch, which opened in 2001, is situated on approximately 40 acres in Henderson, Nevada.
  • Palms, which we purchased in 2016, is situated on approximately 37 acres in Las Vegas, Nevada.
  • Palace Station, which opened in 1976, is situated on approximately 30 acres in Las Vegas, Nevada.
  • Boulder Station, which opened in 1994, is situated on approximately 46 acres on the east side of Las Vegas, Nevada.
  • Texas Station, which opened in 1995, is situated on approximately 47 acres in North Las Vegas, Nevada.
  • Sunset Station, which opened in 1997, is situated on approximately 80 acres in Henderson, Nevada.
  • Santa Fe Station, which we purchased in 2000, is situated on approximately 39 acres on the northwest side of Las Vegas, Nevada.
  • Fiesta Rancho, which we purchased in 2001, is situated on approximately 25 acres in North Las Vegas, Nevada.
  • Fiesta Henderson, which we purchased in 2001, is situated on approximately 35 acres in Henderson, Nevada.
  • Wild Wild West, which we purchased in 1998, is situated on approximately 20 acres of land in Las Vegas, Nevada. The land on which Wild Wild West is situated is part of a 96-acre site, which is being held for future development.
  • Wildfire Rancho, which we purchased in 2003, is situated on approximately five acres in Las Vegas, Nevada.
  • Wildfire Boulder, which we purchased in 2004, is situated on approximately two acres in Henderson, Nevada.
  • Wildfire Sunset, which we purchased in 2004, is situated on approximately one acre in Henderson, Nevada.
  • Wildfire Lake Mead, which we purchased in 2006, is situated on approximately three acres in Henderson, Nevada.
  • Wildfire Valley View and Wildfire Anthem, purchased in 2013, lease land and buildings used in their operations in Las Vegas, Nevada and Henderson, Nevada, respectively, from third-party lessors.
  • Barley’s and The Greens, which are 50% owned, lease land and buildings in Henderson, Nevada used in their operations from third-party lessors. Wildfire Lanes, which is 50% owned, owns the land and building in Henderson, Nevada used in its operations. Red Rock et al opened Barley’s in 1996 and purchased The Greens in 2005 and Wildfire Lanes in 2007.

Source: Station’s newest casino would be latest big project in southwest valley, Las Vegas Review Journal, October 9, 2021Source: Sec.gov: Red Rock Resorts Form 10-K, Fiscal year ended December 31, 2020

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