Delayed Opening of Durango at Red Rock Set for Dec. 5.
Red Rock Resorts, operating under NASDAQ: RRR, declared on Monday that they've decided to postpone the launch of their latest Las Vegas establishment, the Durango Casino and Resort, initially scheduled for November 20. Instead, it's now projected to open on December 5.
The management at Red Rock had disclosed the November 20 launch a few months ago, specifically citing the Durango Casino in Southwest Las Vegas. No reason for the delay was given. Although the new launch date falls well before the Super Bowl in February, this timing still suggests the potential for benefitting from overflow visitors from the Strip around that time.
On the Durango's X profile, a tweet stated, "We're still geared up for the anticipated opening of our Durango Resort, slated for December 5, to ensure a flawless launch of the property."
The Durango Casino will include 73,000 square feet of gaming space, a sportsbook, 2,000 gaming devices, and 40 table games. Despite the setback, guests can still make reservations for the highly anticipated property.
Causes of the Delayed Durango Opening
The parent company of Stations Casino, headquartered in Las Vegas, announced their third-quarter reports on Tuesday. Their financials showed a profit of 60 cents per share on earnings of $411.6 million within the period from July to September, which exceeded expectations of 39 cents on revenue of $412.2 million.
In the statement issued, no mention was made of Durango or the reasoning behind the last-minute schedule change for the casino-resort debut. It's reasonable to assume this was a topic that came up during Red Rock's call with analysts.
Possible factors causing the delay might involve tight labor markets and/or scarce availability of materials. Red Rock is aiming to fill 1,200 roles at the new casino establishment.
Apart from its popular properties in Summerlin and Green Valley Ranch in Henderson, the company oversees a range of gaming venues labeled Station throughout the Las Vegas area. Additionally, their online platform has 10 Wildfire casinos located in Henderson.
The Postponed Durango Launch Has Limited Effects
Putting the opening of Durango back by a couple of weeks doesn't undermine the positive prospects of the property and its potential for contributing to Red Rock's financial gains. Considering the location in Southwest Las Vegas, which is rapidly expanding, the casino offers a unique opportunity to capture business from both tourists and locals looking to enjoy the area off the Strip.
Situated near the Strip, Durango's large hotel plans give it the advantage of capturing the interests of travelers hoping to avoid the Strip's crowds or seeking more wallet-friendly options during Las Vegas's peak seasons.
Red Rock maintains a significant presence in the Las Vegas Valley, even without a Strip-integrated resort. The company's ambitions also include expanding their presence within their hometown over the next ten years, a reflection of their positive outlook concerning the local market.
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Source: www.casino.org
