Station Casinos has disclosed its acquisition of additional land in Las Vegas. The announcement follows closely on the heels of its decision to raze three casinos and put the land up for sale.
The company bought 126 acres of land for $172 million, located south of the Vegas Strip. This newly acquired land is just south of the 56.6 acres that Station Casinos already owns on Cactus Avenue and Las Vegas Boulevard.
Station Casinos has not yet revealed explicit plans for the land, but it seems likely that it will ultimately be developed into a casino resort. The company communicated the following statement to the press:
We are enthusiastic about the potential of this site to become a popular local and regional casino resort. The extensive plot of land provides our company with increased flexibility for master planning, ensuring we fully exploit future development opportunities. We eagerly anticipate revealing our future plans.
This could turn into a significant project for Station Casinos, further enhancing Nevada’s prosperous gambling scene. The company’s primary focus will be the new, larger piece of land, regardless of what they choose to construct. Depending on their plan, Station Casinos may utilize both land plots or sell the older one.
A new mega-property by Station Casinos would rival the South Point and M Resort. The land parcels for this development are situated between these two well-liked local casinos.
The Station Casinos’ land is situated one mile south of the South Point and two miles north of the M Resort.
Currently, Station Casinos operates six full-service casino hotels and 10 Wildfire Casinos.
Station Casinos declared last week that it plans to tear down Texas Station, Fiesta Rancho, and Fiesta Henderson and then sell the land. The company also stated its intent to continue developing new properties for both tourists and locals in Las Vegas.
Two new projects coming from Station Casinos
Station Casinos is currently constructing two new projects in various parts of the Las Vegas valley, demonstrating the diversity of their properties in the city.
What’s a Wildfire Casino?
A Wildfire casino is under construction on a five-acre plot in downtown Las Vegas. This exclusively casino property will occupy part of the land where the Castaway Hotel & Casino once stood, which was imploded in 2006.
Wildfire Casinos in Las Vegas are not the typical tourist-centric casino hotels many anticipate. Instead, these 10 establishments are compact casinos that primarily cater to Las Vegas locals, concentrating on gaming machines.
The Wild Wild West is the only Wildfire property linked to a hotel, specifically a Days Inn hotel to which the casino is attached.
The Wildfire Rancho casino, which is conveniently located near the new casino currently being built, houses just 150 slot machines and video poker games. Additionally, it features a bar, a sportsbook, and a single restaurant.
This is comparable to other Wildfire casinos around Las Vegas.
A smaller Station Casino
Station Casinos initiated construction on Durango Casino & Resort in the southwestern part of Las Vegas earlier this year. It will be a typical, albeit smaller, Station Casinos establishment, featuring a hotel, casino, and several restaurants.
The Durango differs primarily in its size compared to other Station Casinos properties, with it being smaller. The Durango hotel will feature slightly more than 200 rooms, whereas the Red Rock Casino, for example, has 796 hotel rooms.
In addition to the smaller hotel, this will resemble a full-service property that Station Casinos guests usually anticipate from the company. The Durango Casino is slated for a late 2025 opening.
Looking further ahead for Station Casinos
Station Casinos has added a new 126-acre plot to its four other Las Vegas real estate holdings. If the company also utilizes the adjacent 56.6 acres, it could potentially create a vast property.
Station Casinos also possesses four parcels of land of varying sizes in other parts of Las Vegas.
- The Town Center is situated on 58.2 acres of land at the intersection of Flamingo Road and Town Center Drive in Summerlin.
- Inspirada: A 45-acre area in South Las Vegas.
- Viva: A 96.4-acre property is available near the Vegas Strip on Tropicana, close to I-15.
- 47.3 acres of Skye Canyon are located in northwest Las Vegas.
Scott Kreeger, President of Station Casinos, announced last week that the company is in talks to construct a new property in North Las Vegas. It is presumed that this property would be located on the 47.3-acre site at Skye Canyon.
Station Casinos is beginning to construct a new future following the height of the Covid-19 pandemic.
Last year, the company divested itself of Palms. It is also currently in the process of eliminating three old casinos from its portfolio.
Meanwhile, Station Casinos is proceeding with the construction of a casino and another comprehensive casino resort.
Station Casinos has the potential to expand further by adding several more properties throughout the Las Vegas valley.
Related Articles
