Station Casinos Planning Expansion In Las Vegas With New Casino Resorts
- Station Casinos looking to develop new Wildfire casino
- Expansion process also includes development of $750M casino
- Station Casinos also looking to sell real estate in Nevada
Station Casinos just broke ground on its latest Las Vegas location and the company is keen on proceeding with another new project in Vegas. According to the Las Vegas Planning Commission, Station Casinos has proposed a Wildfire casino near Charleston Boulevard, on 2700 Fremont Street.
This is a rather modest location as it only covers around 21,000 square feet but is still pretty big considering the spot is located in downtown Las Vegas.
Station Casinos Continues Expansion
This proposed addition continues Station Casino’s expansion plans. It already operates several Wildfire casinos in the Las Vegas area. The company is focused on the local gambling market and has some big plans for the Vegas gaming market.
Station Casinos is already in the process of developing a $750 million resort in the southwest valley and this new project is part of its expansion plans. According to Lorenzo Fertitta, vice chairman of Station Casinos’ parent company Red Rock Resorts, they are currently focused on major expansions. Lorenzo Fertitta said that there are six undeveloped sites that the casino chain is looking at which will double Station Casino’s presence in Nevada.
Station Casinos is uniquely positioned to do this because it owns large amounts of real estate in the area. In total, the company owns 315 acres of land across the region, which could be used for multiple casino resorts.
A big focus of development process will be the 71 acres Station owns on Durango Drive. That is a lot of space and can make for prime resort territory. The plan is to use 50 acres initially and break the development down into two phases.
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This would allow the company to open the resort in phases and generate revenue early. The final result of the development will be two large hotel towers, space for entertainment and restaurant, and a large casino space covering 93,000 square feet. The remaining 21 acres is likely to be sold for over $20 million.
Station Casinos is also looking to sell land on Cactus Avenue and Las Vegas Boulevard which covers a total 57 acres. This sale is likely to net the US operator a large amount. The company already sold around 90 acres in Reno for $32.6 million to a warehouse developer and will use the funds for its expansion plans.