“We are currently working through the planning, entitlement, and zoning process for these properties, which would be strong additions to the robust development pipeline which will fuel the next chapter of growth for Station Casinos.”Įarlier in the day, the company issued a memo to employees explaining future growth potential with the land acquisitions and its $750 million Durango Station casino under construction in the southwest valley, expected to be completed by the end of 2023.Įxecutives told employees the acquisitions and developments show the company’s commitment to Las Vegas and are part of their long-term strategy to expand as the city grows. “These two acquisitions are a continuation of our 46-year history of growth through the purchase of gaming sites located in high-growth areas with superior ingress and egress among major beltways in the Las Vegas valley,” Cootey said. Red Rock Resorts has also signed a purchase and sales agreement and is “conducting due diligence” on a 67-acre site master planned for a casino resort in North Las Vegas at Losee Avenue and the 215 Beltway, Cootey told Wall Street analysts. “We are excited about the potential of this site as a local and regional destination casino resort and look forward to setting our plans for this parcel in the future,” Cootey said. Cootey noted that Station Casinos recently paid $172.4 million for 127.7 acres of additional land south of their existing parcel at the Las Vegas Boulevard and Cactus Avenue, which is south of the South Point Casino.
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