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"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 said, "but whatever decisions we make will be in the best interest of shareholder value. “We think it’s too early to make that decision at this time.”. We think it’s too early to make that decision at this time," Frank Fertitta III, CEO of Station Casinos' parent company Red Rock Resorts, said during the company's second-quarter 2020 earnings call on Tuesday via the Reno Gazette-Journal. Ed Komenda writes about Las Vegas for the Reno Gazette Journal and USA Today Network. "But whatever decisions we make will be in the best interest of shareholder value.". Facebook; Twitter; Instagram; Youtube; Get Red Rock Resorts Mail ; … Red Rock Property Management. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. InvestorRelations@RedRockResorts.com OFFICE 702.495.3550. LAS VEGAS – There’s a chance four Station Casino resorts in Southern Nevada have closed for good. While Red Rock Casino, Resort and Spa, Green Valley Ranch, Santa Fe Station, Boulder Station, Palace Station, Sunset Station and Wildfire have all reopened, Texas Station, Fiesta Henderson, Fiesta Rancho and Palms Casino Resort remain closed nearly five months after the coronavirus crisis prompted Sin City to shutdown. JOIN NOW. Nestled amongst the gateway to Red Rock Canyon and yet just 10 short miles from the Strip, Red Rock Resort offers the best of both worlds. writes about Las Vegas for the Reno Gazette Journal and USA Today Network. Meanwhile, Red Rock's net loss for the quarter climbed to $118.4 million from $7.1 million during the second quarter of 2019. About 1.13 million shares traded hands on 9,729 trades for the day, Monday - Friday 9:00 a.m. to 5:00 p.m. LAS VEGAS (FOX5) -- Red Rock Resort is getting into the holiday spirit this year with a "larger-than-life" gingerbread hotel designed to look like the property and a holiday-themed pop-up bar. Zillow has 26 homes for sale in Las Vegas NV matching Red Rock Mountains. Red Rock Resorts - An Intimate View Of Las Vegas's Local Casino Properties At A Challenging Time Aug. 24, 2020 7:51 AM ET | About: Red Rock Resorts, Inc. (RRR) Founded by Laurance Rockefeller more than 50 years ago, RockResorts honors Rockefeller's vision of creating exceptional resorts that reflect and protect the essence of their inspiring destinations. Box 422. Red Rock Resorts' grim earnings report follows similar news from Las Vegas competitors. Red Rock Resorts, Inc. RRR is likely to benefit from its Las Vegas operations. Meanwhile, Red Rock's net loss for the quarter climbed to $118.4 million from $7.1 million during the second quarter of 2019. Red Rock Resort is a hotel and casino in Summerlin South, Nevada, located in the Las Vegas Valley.It is owned and operated by Station Casinos on 59.43 acres (24.05 ha) located in the Downtown Summerlin neighborhood. While the company has held off reopening the four properties now in question, several others have opened in recent weeks: Red Rock, Green Valley Ranch, Santa Fe, Boulder Station, Palace Station, Sunset Station and Wildfire. FOLLOW AND SHARE. Do you care about democracy? Despite this, it managed to generate nearly $317 million in … Station Casinos had closed 20 properties in Southern Nevada for almost three months following Gov. This along with increased focus on reopening of properties and cost-saving initiatives bodes well. ", News:Atlantis becomes first Reno casino to remake all-you-can-eat dining. "I've never felt more gloomy than I do today about what's happening in Las Vegas.". Red Rock Resorts' grim earnings report follows similar news from Las Vegas competitors. 509-795-2021 / 208-714-0511. Red Rock Resort Station Casinoss Local gaming giant Station Casinos released a plan to phase in casino openings once Gov. “We don’t know if – or when – we’re going to reopen any of the closed properties,” Fertitta said. Meanwhile, Red Rock's net loss for the quarter climbed to $118.4 million from $7.1 million during the second quarter of 2019. It is Station Casinos' flagship property, and the company's corporate headquarters is located on the property. The company reported net revenues of $108.5 million for the second quarter of 2020, a 77.5 percent decline from $482.9 million for the same period last year. Caesars Entertainment will report second quarter results on Thursday afternoon. Red Rock Resorts 1505 S Pavilion Center Dr. Las Vegas, NV 89135. Las Vegas Sands reported a second quarter loss of $985 million due to the coronavirus pandemic — down 97.1% from last year. In the second quarter of 2019, the company recorded a loss of $7.1 million. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. Gov. E-mail Us or Call 702.495.3550. A sustained shutdown of MGM Resorts properties in the wake of … Red Rock Resorts (RRR) second-quarter top line impacted by temporary closure of properties due to the coronavirus outbreak. Red Rock Resorts reported net second quarter revenues of $108.5 million – a drop of 77.5% from the $482.9 million collected in the same quarter of … Then support local journalism by subscribing to the Reno Gazette Journal right here. Before deciding whether to reopen the properties, Red Rock’s Chief Financial Officer Stephen Cootey said the company must learn whether data shows healthy demand at reopened resorts. "We're in a world of hurt here in terms of Las Vegas," Las Vegas Sands President and COO Rob Goldstein said in an earnings call. "We don’t know if—or when—we’re going to reopen any of the closed properties. RockResorts features a variety of luxury hotels at Colorado and Utah's best ski resorts. Revenues at Red Rock’s Las Vegas properties alone dropped $356.7 million year over year. Steve Sisolak and the Nevada Gaming Control Board allows resorts … The company’s net loss was $118.4 million. Frank Fertitta III, CEO of Station's parent company Red Rock Resorts, revealed in an earnings call Tuesday the company is uncertain whether Texas Station, Fiesta Henderson, Fiesta Rancho and the off-Strip Palms will reopen in the wake of COVID-19. Show full articles without "Continue Reading" button for {0} hours. Connect with friends faster than ever with the new Facebook app. Red Rock Resorts reported net second quarter revenues of $108.5 million – a drop of 77.5% from the $482.9 million collected in the same quarter of 2019. SIGN UP FOR RRR NEWS. P.O. Do you care about democracy? Video: 'Bar Rescue' host Jon Taffer on new safety measures implemented at Las Vegas casinos and hotels (FOX News), "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 added. These Las Vegas Resorts Could Be Closed for Good Because of COVID-19. Sisolak:Nevada to take 'more strategic, aggressive approach' in each county to reduce COVID. Steve Sisolak’s sweeping shutdown order in March. Like us on Facebook to see similar stories, Utah monolith: Several explorers found its location, deep in the desert, Shanghai marathon defies coronavirus with 9,000 runners. Hours of Operation. There's a possibility that the COVID-19 pandemic could result in the permanent closure of as many as four Station Casinos properties in Las Vegas. Then support local journalism by subscribing to the Reno Gazette Journal right here, Atlantis becomes first Reno casino to remake all-you-can-eat dining, Las Vegas Sands reported second quarter loss of almost $1 billion, Nevada to take 'more strategic, aggressive approach' in each county to reduce COVID, Your California Privacy Rights / Privacy Policy. Red Rock Resorts Inc. (RRR) had a good day on the market for Tuesday November 24 as shares jumped 4.7% to close at $22.73. Citing the disappearance of convention business on The Strip, Las Vegas Sands reported second quarter loss of almost $1 billion. 1505 S. PAVILION CENTER DR. LAS VEGAS, NV 89135 Head west for stunning sandstone cliffs—or travel east for the iconic lights of Las Vegas Boulevard. Sign up to receive the latest information from Red Rock Resorts. In 2019, Red Rock Resorts saw a small loss of $-2.4 million on a revenue base of $1.9 billion. A sustained shutdown of MGM Resorts properties in the wake of COVID-19 contributed to a second quarter operating loss of $1 billion. Like its Las Vegas competitors, including MGM Resorts International, this COVID-19 shutdown devastated Red Rock's business. Liberty Lake, WA 99019.

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