This week saw the beginning of the demolition of the Fiesta Rancho in North Las Vegas, with the majority of its five-story hotel tower reduced to rubble. Last July, owner Station Casinos declared that the Fiesta Rancho and its other North Las Vegas property, Texas Station, would be demolished; the latter was leveled in February.
Saying farewell to the Fiesta. (Image: FOX5/Vegas )
The two casinos had been shuttered since the coronavirus pandemic began, yet their customers had shifted to other casinos owned by Station. To that end, they agreed to sell the land to buyers who promised not to use the sites to open rival casinos.
The Fiesta Henderson, which was also demolished in February, was sold for $32 million to the city of Henderson, which intends to transform its 35 acres into an indoor youth sports facility. As of yet, no purchaser has been announced for the Fiesta Rancho or Texas Station locations.
“It is with sorrow that we announce these permanent closures,” Station Casinos president Scott Kreeger stated in a July statement. “We would like to recognize and thank our former employees who worked at these properties for making them a place where our patrons always felt welcome. We are happy that roughly one-third of the staff from each of these three properties are now employed at another Station Casinos property, and we hope that number will grow. We also want to thank our faithful customers for their support.”
The ice rink at Fiesta Rancho will remain open, according to Red Rock Resorts.
Doubling Up
Red Rock intends to double its presence in Southern Nevada by 2030. In February, they opened a Wildfire casino in downtown Las Vegas. They also put $750 million into their Durango Casino & Resort, which features a 73,000 square-foot casino, a sportsbook, and a 200-room hotel on Durango Drive in Southwest Las Vegas that is expected to open later in 2021.
Additionally, Red Rock recently bought nearly 67 acres in North Las Vegas for $55 million, obtaining approval for a new 75,700 square-foot casino and 600-room hotel on the site. (This casino is anticipated to be more luxurious than the Fiesta Rancho or Texas Station.) In July, they acquired 126 acres south of the Strip for $172 million, increasing their vacant land holdings in the Las Vegas Valley to almost 430 acres.
Red Rock’s land portfolio was reduced by 21 acres when they sold excess land surrounding Durango to a housing developer last December for $23.9 million. Their total strategic landholdings now total approximately 522 acres, with around 120 of them either under contract or actively being presented for divestment.
In addition to the Red Rock Resort and Green Valley Ranch, Red Rock currently operates multiple gaming properties under the Station brand throughout the Las Vegas area. They also have ten Wildfire casinos, seven of which are located in Henderson.
