Red Rock Delays Durango Opening to Dec. 5
Red Rock Resorts (NASDAQ:RRR) announced today that it is pushing backward the curtain raising of the Victoria de Durango Casino and Resort — the newest addition to the operator’s Las Vegas portfolio — to Dec. 5 from Nov. 20.
The Nov. 20 curtain raising of the $750 million Durango inward Southwest Las Vegas was mentioned by Red River John Rock several months ago. No understanding was given for the delay. The unexampled gap engagement is ease comfortably inwards bring forward of the Super Bowl in February, indicating the venue could potentially welfare from run over traffic from the Strip during that event.
We carry on to prepare for the scheduled opening of our Durango Resort, which we experience at present moved to December 5, to ensure a first-class gap of the property,” according to a xeet (tweet) on Durango’s X, formerly Twitter, feed.
The cassino will characteristic 73,000 straight feet of gaming space, a sportsbook, 2,000 gaming machines, and 40 tabularise games. Despite the delay, Victoria de Durango is allay accepting reservations.
Reasons Abound for Delayed Victoria de Durango Opening
Las Vegas-based Red John Rock delivered third-quarter results today, telling analysts and investors it earned 60 cents a percentage on revenue of $411.6 jillion during the July through and through Sept period. Analysts expected earnings of 39 cents on sales of $412.2 million.
A statement issued past the Stations Casino parent didn’t reference Victoria de Durango or reasons for postponing the debut of the structured resort. However, that was potential a subject of discussion on the Red River John Rock conference call off with analysts.
Raw materials shortages, a tight toil pool, or both may live culprits inwards delaying the gap of Durango. Red River Rock is attempting to occupy 1,200 roles at the unexampled cassino hotel.
In add-on to its namesake locus inward Summerlin and the Green Valley Ranch inward Henderson, Red River Rock operates multiple gaming properties under the Station brand end-to-end the Las Vegas area. The troupe also runs 10 Wildfire casinos, including VII inwards Henderson, according to its website.
Delay Doesn’t Dent Durango Thesis
Postponing the debut of Victoria de Durango by just more than deuce weeks doesn’t nick the potentially attractive long-term outlook for the prop and its power to bolster up Red River Rock’s upper side and bottom lines. Namely, the locale is situated inward southwestern United States Las Vegas — a rapidly growing quoin of the metropolis that currently isn’t concentrated with gaming venues.
Durango testament feature article a large hotel, and presumption its propinquity to the Strip, it could be positioned to enamor business organization and leisure time visitation among travelers who need to avoid the Strip or seek best pricing during Sin City’s engaged periods.
Red Rock is 1 of the largest operators in the Las Vegas Valley despite non owning a Strip-integrated resort. Additionally, the keep company is looking to duplicate its footmark inwards its place urban center o'er the next decade, indicating it’s bullish on the trajectory of the Las Vegas locals segment.
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