The return would be enhanced further if Station, per its intentions, sells 23 acres of the site’s 73 for residential development. Also, the population density in the three-mile radius around Durango Station would be higher than that for Red Rock Resort.īetween the relatively low budget for the casino and the demographics, JP Morgan lead analyst Joseph Greff projected a 15-20 percent return on investment for Durango Station, an auspicious metric in the casino industry. Station leadership cited Durango Station’s surrounding demographics as an incentive to proceed, noting a high Asian-American population in the area and the absence of significant competition within a five-mile radius. The budget would be a substantial cutback from Station’s most recent casino projects, Red Rock Resort ($925 million) and the Palms ($662 million). ![]() ![]() The tentative plan is for 120,000 square feet of gaming floor and a 1,000-room hotel, 216 feet in height. The budget is estimated to be between $400 million and $500 million. Groundbreaking is planned for sometime in the first quarter of 2022, with completion expected in the last quarter of 2023. In a May 13 conference call with JP Morgan analysts, CEO Frank Fertitta III, Vice Chairman Lorenzo Fertitta, and Chief Financial Officer Stephen Cootey announced they would be moving ahead with the long-delayed Durango Station, located in the fast-growing southwest Las Vegas Valley along the 215 Beltway.
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