Red Rock Resorts (RRR) operates a unique business model where it caters to locals while also being tourist-friendly. The brand lacks the scale of the biggest Las Vegas Strip players including Caesars Entertainment (CZR), MGM Resorts International (MGM), and Wynn Resorts (WYNN), but its smaller scale gives it an intimate connection to customers its bigger rivals can't easily duplicate.
The company operates resort casinos that are generally far off the main drag of the Las Vegas Strip (it is, however, building a new property in the Fremont Street area). Now, the company has two clear strategies as it looks to enhance its brand standing with locals while also giving tourists looking for a different experience an option to patronize Caesars, MGM, and the other big players.
Red Rock's plans include having large swatches of land ready for future development. The company also has a plan to take one of its key properties and upgrade it to make it Las Vegas Strip-like without forcing people to visit the actual Las Vegas Strip.
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Red Rock Resorts Makes a Huge Land Buy
Red Rock Resorts recently permanently closed three casinos because it believed its other properties could serve those customers. That's part of a broader effort by the company to make sure it has the right portfolio of properties to serve its customer base while also adding in new patrons.
The company, which owns the Station Casinos brand did not say what it would be using it for, but Red Rock Resorts has amassed land for use in future projects. This new plot sits near a piece of land the company owns at Cactus Avenue and Las Vegas Boulevard, Casino.org reported.
Red Rock did issue a broad statement on the new purchase.
"We are excited about the potential of this site as a local and regional destination casino resort. The larger acreage parcel allows the company greater flexibility in master planning to take maximum advantage of the future development. We look forward to sharing our plans in the future,” the company shared.
Red Rock Resorts currently owns approximately 428 acres in Las Vegas and Reno, more than 300 of which are in the Las Vegas Valley, according to its corporate website.
Red Rock Plans to Upgrade Its Namesake Resort
The Red Rock Resort, a resort casino located on West Charleston Boulevard in Las Vegas will add several dining locations while also getting a property-wide makeover, the Las Vegas Review-Journal reported. That includes improvements to its high-limit slot room, a renovated 21-and-over pool area, and a new Lotus of Siam restaurant as well as a Greek eatery, Naxos Taverna, an "an oyster bar in partnership with Bua Food Group, a new venture from the owners of the family-owned and award-winning Thai restaurant."
“Our company is constantly looking for ways to enhance the property,” Red Rock General Manager Scott Nelson told the paper. “We’re always looking for what our guests are looking for and what attracts those guests, understanding that they come to Red Rock, for the most part, multiple times per week. It’s about keeping the property where they want it, keeping it enhanced and relevant to what their expectations are."
The resort also plans major upgrades to its pool area as well as a revamped cocktail lounge in the high-limit slots area.
“We were looking for something that would speak to our guests,” he said. “Those guests are not looking for a dayclub experience, but that (main) pool and adult pool that’s out there is absolutely gorgeous. We feel that that’s something that speaks for our guests that live on this side.”
