Red Rock Resorts controls six potential development sites in Southern Nevada totaling 329 acres — the largest being a 123-acre location on the far south end of Las Vegas Boulevard, near Cactus Avenue.
But the company’s 8-acre parcel in Reno near the Atlantis Hotel & Casino and the Reno-Sparks Convention Center recently caught the attention of Truist Securities gaming analyst Barry Jonas.
He asked company officials about the site last week during its quarterly conference call after it was listed in an investment filing as “ready for development.”
Red Rock President Scott Kreeger said the company has “gone back and forth” on developing or selling the site. Red Rock has owned the parcel zoned for gaming since the 1990s.
“It is a great location in Reno. From a priority perspective, we like the development opportunities we have in Las Vegas,” Kreeger said. “We’re always open to developing that [site] at the right time.”
Kreeger suggested the company could sell the site if there was “an attractive offer.”
Company executives have said on recent conference calls the immediate development focus is on building a resort in the Inspirada community on the western edge of Henderson that would be similar in size and scope to the 201-room, $780 million Durango Casino Resort, which opened more than a year ago.
Red Rock said it began work in January on a $120 million expansion to Durango that will add 25,000 square feet to the gaming floor — giving the resort a more than 100,000 square-foot casino — and a second 2,000-space parking garage. The expansion is expected to open next January.
