The Durango Casino resort was finally opened on Tuesday, December 5th, as previously announced. However, the opening came 15 years after the company’s last development, and it was delayed several times.
The tough path to success:
After the $780 million resort opened, its owner, Red Rock Resorts, is looking for further expansion in several new locations across the Las Vegas Valley. However, Scott Kreeger, the President of the company, claims that such a delay won’t happen again.
Red Rock is currently in possession of six development sites placed across more than 500 acres in Clark County. Back in 2021, Frank Fertitta III, the company’s CEO, and Lorenzo Fertitta, the Vice Chairman, announced their goals to double the Red Rock’s size by the end of the decade.
Last week, Kreeger commented: “We’ve always been a company that is willing to buy future development land and hold it in a land bank for the right time. Looking at the dynamic growth of Las Vegas, we think the growth capacity over the next ten years is going to fuel and kickstart our ability to develop these sites.”
One of the properties is a 48-acre plot situated in Skye Canyon, and another one is in the west Henderson community of Inspirada, where the Henderson Planning Commission has already approved the construction plans. There’s also a project for a 125-acre site on Cactus Avenue and Las Vegas Boulevard.
Brendan Bussmann, an adviser of the casino industry and managing partner of Las Vegas-base B Global, said: “This is the beginning of a new chapter of expansion for Red Rock. With Durango being the first of what looks like many more opportunities over the next decade and strong land-banked assets, the company can significantly add to and have an impact on both the locals’ and visitors’ markets.”
Change of plans:
The plans for Durango Casino started to develop in the early 2000s. The way to the casino’s opening was tough, including the Red Rock bankruptcy in 2009, so the plans were put aside for a while.
Back in 2021, the plans changed a bit, and the company decided to sell a part of the property, 23 acres, for $23 million to build apartments, which would be beneficial for the property.
According to Kreeger, the Durango casino is similar to the company’s famous Red Rock Resort in Sumerlin, but it is smaller than the famous casino. However, Durango is the only big gaming location in the 5-mile radius, so it is expected that it will be the first choice of about 250,000 adults in the area. The local market is growing rapidly and affects the casino industry as well.
As the Nevada Independent reports, the next phase of the works on Durango has been considered, and if approved, it will add 300 new hotel rooms, as well as new restaurants, a spa, and a huge meeting space. However, it won’t begin for at least six months or a year.