Red Rock Breaks Ground on New $750m Las Vegas Casino
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Red Rock Resorts has broken ground on a new $750m casino in Las Vegas. The gaming operator received the relevant permits from Clark County in January and has begun the development of the Durango Station casino and hotel. It will take 18-24 months to finish and will include over 2,000 slot machines and 46 table games, 200 hotel rooms, numerous restaurants, expansive meeting space, a spa, and a sportsbook. Red Rock has entered into a guaranteed-maximum price contract for the initial project phases and is looking to sell 23 acres of land behind the site for around $24m to help fund the project.
Red Rock Resorts breaks ground on new $750m Las Vegas casino. The company bought the property in 2000 but the project was delayed due to opposition from local residents and the recession. Red Rock recently closed the sale of the Palms casino resort and Palm Place condominiums.
Red Rock Resorts had a strong final quarter. The company generated net revenue of $1.6bn for the 2021 financial year. Net income reached $354.8m, up from $174.5m the previous year, and $200m of that came from the fourth quarter of 2017.
