Posted on July 3, 2022, 09:27 h
Last modified July 3, 2022, 09:27 h
Red Rock Resorts (NASDAQ: RRR) is one of the leading operators in the entire Las Vegas Valley with local casinos and a new gaming venue looking to reinforce this trend in downtown.
The parent of the site casinos is bringing Wild Fire Casino to downtown Las Vegas. Currently under construction, the site is on Fremont Street.
(Site Casinos) are proud to offer new Wild Fire Casino new services to residents of downtown Las Vegas, ”the company said in a statement. Las Vegas Review-Journal.
In addition to naming sites in the Green Valley farms in Summerlin and Henderson, Red Rock operates a number of gaming features throughout the Las Vegas area under the brand. The company operates 10 wildfire casinos in Henderson, including seven.
Wild Fire Casinos typically offer Las Vegas residents with affordable and affordable dining options on slot machines and video poker. The upcoming downtown area is located on the old Castasway site, which has been owned by Red Rock for 18 years.
Other Red Rock projects around Las Vegas
With $ 650 million in palm sales last year, Red Rock is expanding into the Las Vegas Valley.
Those efforts include the Durango project in southwestern Las Vegas – the game company believes it is rarely used. Construction began on the site earlier this year and is expected to include a 73,000-square-foot casino, sports book, 200-room hotel, four restaurants and meeting places.
We are building a new casino resort on our approximately 50-acre development site at the Durango Drive and Interstate 215 intersection in the southwestern Las Vegas Valley, which is expected to open in the next 18 to 24 months. It can be registered with the Securities and Exchange Commission (SEC).
In addition to the Durango site, Red Rock now covers more than 300 acres[300 ha]of unused land in all of southern Nevada, indicating that Durango and Wildfire projects could be just the tip of the iceberg when it comes to operator expansion efforts.
Banking on Las Vegas locals
Although the wildfires mentioned earlier are downtown, Red Rock does not expect a significant presence there or is not a player on a high-competition strip. In other words, the operator focuses on residents of the Las Vegas area.
According to Wall Street, Red Rock’s focus on local residents may eventually reward investors. It includes a wide range of customers, from stripe casinos to high-heeled retirees who have moved to Nevada to enjoy the low cost of living.
In the past, Las Vegas residents ’population control was dominated by construction workers and workers from other casinos, making operators like Red Rock vulnerable to weak macroeconomic trends. But with California moving to Nevada – many paying for real estate – locals are more prosperous and more supportive.