Red Rock Resorts hits record revenue with bold Las Vegas expansion plans
Red Rock Resorts, a leading gaming and hospitality company, has reported a record-breaking quarter. The company's success is attributed not just to local customers, but also to drawing visitors from the Las Vegas Strip to its suburban properties. Kord Nichols, executive vice president and COO, shared these insights.
Red Rock Resorts' strategy involves catering to a wide range of visitors with diverse experiences and price points. This approach has proven successful, with the Durango property alone adding 108,000 new customers to the operator's database. The company is now planning to expand its portfolio within the Las Vegas Valley. Within the next two quarters, Red Rock Resorts aims to develop new hotel towers, enhance casino floor space, and upgrade entertainment venues at its existing properties.
To compete with the Las Vegas Strip, Red Rock Resorts is also planning to open high-limit rooms at its properties. The company's strong quarter, with record revenue and adjusted earnings, reflects this growth. Red Rock Resorts' ownership of real estate provides flexibility during economic downturns and allows for long-term investment strategies. Expansion options are being considered in Durango, Inspirada in west Henderson, and on Las Vegas Boulevard South, south of South Point Casino. An announcement regarding future construction projects is expected within the next two quarters.
Red Rock Resorts' success story continues with a record-breaking quarter and plans for expansion. By offering a variety of experiences and attracting Strip visitors to its suburban properties, the company is set to grow its customer base and market share. The upcoming announcement of future construction projects promises exciting developments in the Las Vegas Valley.
