Red Rock Resorts Open Durango Casino, Announces Expansion Plans
The Durango Casino resort, owned by Red Rock Resorts, finally opened on Tuesday, December 5th after 15 years of development delays. The $780 million resort had been in the works for over a decade, facing various obstacles that led to multiple delays.
Following the opening of the Durango Casino, Red Rock Resorts is now looking to expand its presence in several new locations across the Las Vegas Valley. Scott Kreeger, the President of the company, assured that the delays experienced with the Durango project would not be repeated in future expansions.
Red Rock Resorts currently owns six development sites spread across more than 500 acres in Clark County. In 2021, the company’s CEO, Frank Fertitta III, and Vice Chairman, Lorenzo Fertitta, announced plans to double the size of Red Rock Resorts by the end of the decade.
According to Kreeger, the company has always been willing to acquire future development land and hold it in a land bank for the right time. They believe that the dynamic growth of Las Vegas will fuel their ability to develop these sites over the next decade.
Brendan Bussmann, an adviser in the casino industry, believes that the opening of Durango Casino marks the beginning of a new expansion chapter for Red Rock Resorts. He sees potential for many more opportunities over the next decade, with the company adding significant value to both the local and visitor markets.
The Durango Casino project faced obstacles and setbacks, including the 2009 bankruptcy of Red Rock Resorts. However, the company decided to change its plans in 2021, selling a portion of the property to build apartments, further improving the overall property.
Kreeger mentioned that while Durango Casino is smaller than the company’s famous Red Rock Resort in Summerlin, it is the only major gaming location in the 5-mile radius, making it the top choice for approximately 250,000 adults in the area. The local market’s rapid growth is also expected to have a positive impact on the casino industry.
Looking ahead, 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 large meeting space. However, the next phase is not expected to begin for at least six months to a year.