Station Casino’s parent company rescued the best net revenue for the fourth quarter and the cash flow result in its history to a profitable 2024, reported managers for Red Rock Resorts Inc. Tuesday in an income call with investors.
And the company is about to add it.
Buoyed by the success of their year-old Durango property-which has already started an expansion program-supine Red Rock officials that its newest property has been responsible for adding 85,000 new customers to the company’s database with cannibalization of customers from Red Rock Resort within The company’s expected range.
“Durango continues to grow Las Vegas Local Population Market as the team continues to perform and improve the property’s operational performance while at the same time operating ancreal game from our existing customers and attracting new customers to our brand,” Vice Vice President and Chief Financial Officer Stephen Cootey told investors in a Conference call.
While the company’s officials did not talk specifically about plans, representatives are expected to deal with a public hearing by Henderson Planning and Zoning Commission on Thursday on its planned Inspirarada station project in the masterpiece planned society in Inspiors in the Hills area in Henderson.
According to city documents, the company is seeking approval to add 14.1 acres to a 52.6 acre, which is close to the intersection via Inspireda and Bicentennial Parkway.
City documents say that the original approved resort hotel is expected to consist of 58,000 square meters of gaming area, 6,670 square meters of banquet space, an 8,400 square meter sports book, 201 hotel room, three special restaurants with outdoor dinners, an eightbox food hall, four bars, a 12-lans bowling hall, one Six-box cinema and surface parking with 1,708 parking spaces. A definitive building date has not been established.
Durango, Red Rock’s latest property and located in southwestern Las Vegas, began its expansion program in January, 13 months after the property’s doors were first opened.
“We started building last month at the next phase of our Durango -Master Plan,” Cooty said. “This expansion will add over 25,000 square meters of casino space, including a new high boundary and bar. A total of 230 new slot machines will be added, with 120 dedicated to the room with high limit. In addition, we will build a covered parking garage with almost 2,000 spaces, improve customer access and provide flexibility for future expansion. The project, with a budget of approximately $ 120 million, is expected to be completed in January 2026. Some disruptions on the southern side of the property are expected during construction. “
For the fourth quarter, which ended on December 31, Red Rock reported a net profit of $ 87.7 million, $ 76 cents per share, on revenue of $ 495.7 million, an increase of 7.1 percent compared to the fourth quarter one year previous.
For 2024, the company reported a net profit of $ 291.3 million, $ 2.53 per share, on revenue of $ 1.94 billion, an increase of 12.5 percent.
The company also plans to issue a dividend of 25 cents per share on March 31 to the shareholders in a record March 17.
Red Rock shares, traded on the Nasdaq exchange, closed 51 cents per share, 1 percent, to $ 50.92 on Tuesday at volume almost twice the daily average.
Contact Richard N. Velotta at rvelotta@ theplayerlounge.com or 702-477-3893. Follow @rickvelotta at X.
