After two years of speculation, Station Casinos’ parent company Red Rock Resorts announced that it will not reopen its three casinos that closed during the peak of the Covid-19 pandemic.
The company will not reopen Texas Station, Fiesta Rancho, and Fiesta Henderson.
In addition to not opening the properties, the company announced it will demolish the casinos and sell the land. The ice rink at Fiesta Rancho is the only venue at the three properties that will remain open.
Scott Kreeger, President of Station Casinos said “these properties have been an important part of our business over many years, so it is not without sadness that we announce these permanent closures.”
The move not to reopen the casinos doesn’t come as much of a surprise to Nevada gamblers.
Station closes four casinos in 2020
All Las Vegas casinos were ordered to close in March of 2020 to help slow the spread of Covid-19. Most casinos reopened less than two months later in early June.
Station Casinos took a phased approach to reopen its Las Vegas casinos. The company only reopened the following casinos in 2020:
- Green Valley Ranch
- Red Rock Casino
- Palace Station
- Santa Fe Station
- Sunset Station
- Boulder Station
Four casinos owned by Red Rock Resorts remained closed as the company evaluated how, when and if it would reopen more properties. The following properties never reopened under the ownership of Station Casinos.
- Texas Station
- Fiesta Rancho
- Fiesta Henderson
- Palms
Selling Palms to San Manuel for $650 million last year was the first step for the company to move forward. Palms reopened under new ownership earlier this year.
The six open casinos have been generating approximately 80% of the revenue of all of the Station Casinos properties that were previously operational. There has been rampant speculation on the future of the three close Station Casinos properties.
There hasn’t been much financial incentive to reopen the three closed casinos located in different parts of the Las Vegas valley. Further, the company announced it was moving forward with new projects while the three casinos remained dormant.
Station Casinos moving forward with new projects
Late last year, Red Rock Resorts announced plans to build Durango Station. The company broke ground on the property earlier this year. The casino that’s being built in the southwest part of Las Vegas is now known as Durango Casino & Resort. It’s currently slated to open in 2023.
Kreeger shared that the company is ready to move forward:
“This action will enable the Company to continue reinvesting in our open properties and move more quickly to develop and deliver the next generation of Station Casinos resorts to the residents and visitors of North Las Vegas, Henderson, and the rest of the Las Vegas valley. This strategic focus will create new and exciting amenities for our customers and job opportunities for our valued Team Members and the community.”
The company is already moving forward. Red Rock Resorts recently started construction on a new 21,000-square-foot Wildfire Casino in downtown Las Vegas. Kreeger says that Station Casinos is already in discussion to build a new property in North Las Vegas.
Red Rock Resorts owns land throughout the Las Vegas valley. According to its most recent investor presentation, the company says that “over 90% of Las Vegas population lives within 5 miles of a Red Rock property.”
Money generated from the sale of the land under the three demolished casinos will go towards improving the currently open casinos and developing new Station Casinos properties.
More land for Station Casinos Las Vegas
In addition to the land on Durango in the southwest area of Las Vegas and Skye Canyon in north Las Vegas, there are four specific plots of land the company can move forward with developing.
- Town Center: 58.2 acres at Flamingo Road and Town Center Drive in Summerlin
- Cactus: 56.6 acres at Las Vegas Boulevard and Cactus Avenue south of the Vegas Strip
- Inspirada: 45 acres in south Las Vegas
- Viva: 96.4 acres near the Vegas Strip on Tropicana near I-15
Red Rock Resorts reports quarterly earnings on Aug. 9. It would not be a surprise to hear more about plans for future Station Casinos projects.
