Great Britain

Four Station Casinos properties in Las Vegas may never reopen after pandemic closure

LEAVING LAS VEGAS

FOUR Station Casinos properties in Las Vegas might never reopen after it was closed due to the coronavirus pandemic.

Frank Fertitta III, CEO of Station's parent company, Red Rock Resorts, said on Tuesday that the company is unsure if the Texas Station, Fiesta Henderson, Fiesta Rancho and the off-Strip Palms will open its doors again.

"We don't know if – or when – we're going to reopen any of the closed properties," he said.

"We think it’s too early to make that decision at this time."

The company closed 20 properties in Nevada for nearly three months following Governor Steve Sisolak's shutdown order.

"So far we're very pleased with results that we've had, the ability to move some of the play from the closed properties to our existing properties, and we're going to continue to try to get clarity and navigate the situation to make well-informed decisions," Fertitta continued.

"But whatever decisions we make will be in the best interest of shareholder value."

Red Rock Resorts reported net a second-quarter revenue of $108.5million, which is a 77.5 percent drop from the $482.9million from the same quarter last year.

The company's net loss was $118.4million - in comparison to the 2019 second quarter loss of $7.1million.

Red Rock's Las Vegas properties recorded a $356.7million year over year drop.

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