Cootey has described the business as well placed to “capitalize on the very favorable long-term demographic trends and high barriers to entry that characterize the Las Vegas locals market.” Station Casinos’ newly articulated plans are sure to reassure local casino-goers who may have feared the worst.

He summed up Red Rocks’ modus operandi as buying “gaming sites located in high-growth areas with superior ingress and egress among major beltways in the Las Vegas valley.” Reassurance for locals You have to control the real estate and have a pipeline for development.”Ĭootey concurred, deeming the pair of recent buys another strategic step forward in the firm’s 46-year-long campaign of expanding its corporate empire. He claims that the company has always focused on “the development of greenfield projects.” To ensure success, he said: “The way we’re going to do it is the way we built the company,” said Red Rock’s vice chairman Lorenzo Fertitta in the earnings call. Red Rock’s aim to raise its next generation of casino properties in growing areas of the Las Vegas Valley is a classic move from the Fertitta family playbook.

He then also revealed the inking of a purchase agreement on a 67-acre gaming site earmarked for a casino resort in North Las Vegas.įertitta said the Station Casinos owner will “continue to roll out new properties one after the other.” The family playbook Outlining plans for growth, Red Rocks chief financial officer, Steve Cootey, announced that the company has purchased 126 acres of land south of the Las Vegas Strip for $172m. Purchased 126 acres of land south of the Las Vegas Strip Insight into the Nevada-based casino giant’s plans came during its second quarter 2022 earnings call on Tuesday. According to CEO Frank Fertitta, the measures are all part of a long-game strategy to “basically double” the Red Rock portfolio by 2030. Recently, Red Rock Resorts has completed a series of big real estate buys in Las Vegas, while also consigning underperforming casinos to the wreckers’ ball.

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