Red Rock Resorts has announced further plans to introduce development projects in the coming months and years.
The news was confirmed on Wednesday, when Executive Vice President, Chief Financial Officer, and Treasurer at Red Rock, Steve Cootey, said that Las Vegas remains a priority for the company.
Red Rock Is Adamant about Plowing More Money
“Nevada has been the third fastest growing state in the past two decades. Most notably, 40% of the new residents from California bring a higher income profile and greater spending power. The median household income in Clark County is expected to rise 7.1% over the next five years,” Cootey said, outlining the current developments in the state.
At the same time, Las Vegas has added 76,000 jobs, Cootey explained, over the past three years – outpacing the national average, a strong indicator of the city’s prospects in the age of online gambling and economic jitters.
Red Rock already has 19 properties in the Las Vegas valley, and it may not be stopping there, he further explained. Three new projects should be arriving before long, Cootey said.
The first one will be a new development at Durango, with more casino space and food and beverage options in the form of outlets for attendees, as well as more rooms coming.
This investment should run up to about $120 million alone, and add 25,000 square feet of casino space, a clear indication that the company is banking heavily on the future of land-based gaming and entertainment in Nevada.
Hundreds of Millions Going Down on Red Rock’s New Developments
This includes a new parking garage with nearly 2,000 spaces, plus a high-limit slot room and bar.
Then, there is a second project which will sprawl on 123 acres east of I-15 and south of the South Point Hotel Casino on Las Vegas Boulevard, with Red Rock serious about building new properties. Although still in early innings and a concept, the project will happen, Cootey affirmed.
Then, there is a third project which will take 63 acres in west Henderson in Ispirada near the M Resort.