“Looking at the dynamic growth of Las Vegas, we think the growth capacity over the next 10 years is going to fuel and kickstart our ability to develop these sites.” “We’ve always been a company that is willing to buy future development land and hold it in a land bank for the right time,” Kreeger said in an interview last week. In 2021, Red Rock CEO Frank Fertitta III and vice chairman Lorenzo Fertitta - the brothers are the casino operator’s largest shareholders - told analysts the goal was to double the company’s size by 2030.
Red Rock owns six development sites that, combined, cover more than 500 acres in regions stretching to the outer ends of Clark County, giving the company a roadmap for future projects.
He said Durango’s opening is the blueprint for Red Rock’s development plans - building resorts in areas around the Las Vegas Valley where the population is growing, the economy is expanding and the company is not represented in the gaming landscape. The company already has a few locations in mind for expansion. Red Rock Resorts President Scott Kreeger said a dry spell like that won’t be repeated. Tuesday morning’s opening of the $780 million Durango Casino Resort comes 15 years after the company opened its last development.
