- Red Rock Resorts is planning to develop its property at Durango Drive, an underserved market.
- The 2008 economic downturn frustrated plans of developing a casino and a 201-room hotel at the site.
- The news comes as the pandemic has hit casinos in Nevada, with some tackling the situation by partial closures and allowing weekend-only reservations.
- Two pharmaceutical companies this week raised hopes in the tourism industry when they announced that a vaccine could be near.
Station Casinos-owned Red Rock Resorts is exploring to design and develop its property at Durango Drive and the 215 Beltway, the Las Vegas Review-Journal has revealed.
Last week, a note from the investment firm J.P. Morgan showed the casino company sees this area in the developing southwest Las Vegas Valley as “the most underserved” market in the region, the newspaper reported.
2008 saw the development of a casino and a 201-room hotel at the site before the economic decline frustrated the plans.
The newspaper reported that, three years ago, a sign on the property indicated that a 120,000-square-foot Station Casinos resort and a 1000-room hotel would be constructed there.
In an annual report filed earlier in 2020, Red Rock Resorts noted its undeveloped site at Durango has great “visibility and access from Interstate 215,” the report states. Also, the developed property will have no major competitors within five miles of the site.
Government affairs director for Global Market Advisors Brendan Bussmann told the newspaper that the Durango site is a region that is continually growing “in an underserved portion of the gaming market.”
“The anchor of a facility in the southwest Las Vegas market will be a strong addition to the area, the overall market, and a positive that may come out of the Great Shutdown,” he said.
Several casinos in Nevada reopened from June 4 after Gov. Steve Sisolak allowed them to. They had shut down in mid-March due to a spike in COVID-19 cases.
Currently, Station Casinos is yet to reopen Texas Station, Fiesta Rancho, Fiesta Henderson, and the Palms, with expectations that these properties will resume operations next year.
Other Las Vegas resorts are experiencing sluggish tourism business. They are dealing with the situation by allowing weekend-only reservations for hotel rooms. These resorts are Park MGM, the LINQ, and Planet Hollywood.
While the off-Strip Rio All-Suite Hotel and Casino is set to reopen on December 22, it won’t accept midweek hotel reservations after the holidays until the demand is high enough.
Encore at Wynn Las Vegas is closed on Tuesdays and Wednesdays, including its gaming and hotel spaces, due to low consumer demand.
However, the announcement from two pharmaceutical companies this week that a COVID-19 vaccine is on the horizon returned hopes to the tourism industry. The companies, Pfizer and Moderna, each announced their vaccine.
Meanwhile, the region is seeing continuity in casino construction. Circa Resort, which opened partially on October 28, has scheduled to open some of its 777 hotel rooms next month. Resorts World Las Vegas is under construction but will open this summer.