Station Casinos purchases 126 acres of land south of Las Vegas Strip
Only days after closing three other locations, the group acquired a new plot of land near the Southpoint.
With Texas Station, Fiesta Rancho and Fiesta Henderson closed for good, Station Casinos has now purchased 126 acres of land that could be the home of a future resort.
The land includes 60 acres of property that was already owned by the group. In total, the purchase cost Station Casinos just over $172m, which was revealed by a spokesperson for the company in an email.
Located south of the Las Vegas Strip, the plot of land is near the Southpoint, which is owned and operated by Michael Gaughan, the founder of Coast Casinos.
Station Casinos said it was “excited about the potential of this site as a local and regional destination casino resort.” The statement continued revealing that company officials “look forward to sharing our plans in the future.”
The company is planning to demolish the three casinos it closed earlier in the week and intends to sell the land.
President Scott Kreeger of Station Casinos commented: “These properties have been an important part of our business over many years, so it is not without sadness that we announce these permanent closures.”
Kreeger added that the move would “enable the company to continue reinvesting in our open properties and move more quickly to develop; and deliver the next generation of Station Casino resorts to the residents and visitors of North Las Vegas, Henderson and the rest of the Las Vegas Valley.”
Now that the company has purchased the 126 acres of land, it would seem this is the reinvestment Kreeger was alluding to.
Station Casinos owns Red Rock Resort, Green Valley Ranch, Palace Station, Boulder Station, Sunset Station and Santa Fe Station, with future resorts and casinos on the horizon.
The group broke ground earlier this year on its Durango Casino and Resort near the 215 Beltway and Durango Drive.
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