Station Casinos is a Nevada-based casino and hotel business. It has been a prominent player in the Nevada casino scene since 1976 when it opened Bingo Palace, later renamed Palace Station. Many will know the name of Fertitta in the casino industry. Frank Fertitta Jr. was the company’s original founder, and now, several Fertitta family members co-own the company.
As a successful casino company operates, however, they do so with the understanding that they will need to offload some properties in an effort to continually upgrade its standing in the industry.
Station Casinos is doing just that.
Step 1: Demolish 3 Casinos
Last month, Station Casinos announced that it will be destroying three of its casinos: Texas Station, Fiesta Henderson, and Fiesta Rancho.
Interestingly, those three properties never reopened since the Covid-mandated lockdowns of 2020. Other properties reopened in 2020 and 2021. But Station Casinos tried to place employees from those three shuttered casinos in other ones. They claim that one-third of them are employed at other locations in the Las Vegas area.
The properties will now be demolished. The goal is to sell the land and reinvest proceeds in other properties.
Station Casinos President Scott Kreeger noted that the casinos were an important part of the brand. It was “not without sadness” that they made the decision to destroy them.
Step 2: Buy More Land
Within just days of announcing its plan to destroy three casinos and sell that land, Station Casinos bought 126 acres of land for $172.4M. Parent company Red Rock Resorts said the land is located near the Las Vegas Strip and Cactus Avenue.
The plan for the new land is to build a new casino/resort, one that will be a “local and regional destination casino resort.”
Step 3: Overhaul Red Rock Casino
The next announcement pertained to its signature Red Rock Casino via a “stunning transformation.”
For the high rollers, an upgraded high-limit slot area will receive a new design and more amenities, including a dedicated cashier, cocktail bar, and new machines. That will bring it to 73 video poker machines and slot games. And it will be a nice companion to the already-open larger and more diverse high-limit table game area.
To go with a newly-renovated Starbucks, Red Rock will add new restaurants, including the wildly popular Lotus of Siam and others like Naxos Taverna, Kallisto Oyster Bar, and Nielsen’s Frozen Custard.
There will also be an adults-only pool, new cocktail lounge, and another new casino bar.
