LAS VEGAS (KLAS) — It is perhaps one other 12 months earlier than executives at Station Casinos announce their subsequent transfer, leaving Las Vegas to guess whether or not Inspirada, Skye Canyon, or one in all a number of different properties has moved to the highest of the listing for the corporate’s subsequent resort.
“I think we’ll be in a position probably by this time next year to give guidance on what the next project is going to be,” Pink Rock Resorts CEO Frank Fertitta mentioned earlier this week. “We’re working very hard right now, but not in a position to disclose it right now.”
Fertitta and his brother, Lorenzo, aren’t prepared to point out their playing cards.
Whereas preliminary pleasure constructed round the opportunity of the following venture at Inspirada, it is simply one in all a number of spots across the Las Vegas valley that might be dwelling to the following Stations venture. Skye Canyon within the northwest valley and one other property at Cactus Avenue and I-15 are additionally within the operating. There’s additionally the positioning of the previous Wild West on line casino at Tropicana Avenue and I-15, a web site at Losee Street and the Northern 215 Beltway, and a 58-acre web site on City Middle Drive simply west of the 215 Beltway.
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Coming off a report fourth quarter for revenues and money move, the corporate outlined how it’s spending greater than $350 million on enhancements at Durango On line casino & Resort, Inexperienced Valley Ranch and Sundown Stateion throughout a Tuesday name with traders. These tasks embody:
Durango ($120 million): An extra 25,000 sq. toes of on line casino house, a brand new excessive restrict slot space with a bar, a 2,000-space parking storage.
Inexperienced Valley ($180 million): A whole refresh of the resort’s rooms and suites, together with a refresh of the conference house. The vast majority of the rooms shall be again in service by the tip of 2025.
Sundown: ($53 million): An all new middle bar, a rustic & western nightclub, new Mexican restaurant and a full on line casino renovation.
So it isn’t like the corporate is standing nonetheless. Executives have seen the power of Pink Rock Resorts — the publicly traded mother or father firm of Station On line casino — in its actual property holdings across the valley that place it for development sooner or later. Mixed with the continued fast development within the valley, it is a potent system.
“There’s certainly no lack of demand as far as people wanting to relocate here,” Lorenzo Fertitta mentioned.
“And the good news is the majority of the growth that’s taking place is in the suburbs where our properties are located off of the beltways and major infrastructure,” Frank Fertitta III mentioned.
Pink Rock Resorts reported web revenues of $495.7 million for the fourth quarter, a rise of seven.1% over the fourth quarter of 2023. For the whole 12 months, web revenues had been $1.94 billion, a $12.5% enhance over 2023.
