Fallow Land, Hollow Claims
Red Rock Resorts has been talking up its Las Vegas development sites and master-planned expansions in its presentations to investors and SEC filings. However, after a review of local real estate listings and planning agency documents, we found development sites for sale and no approvals on file for some of the company’s master-planned expansions. We present our findings in a new report that you can download here.
Our report on Red Rock’s Las Vegas growth pipeline raises some important questions for investors:
- Why does the company continue to describe the Cactus and Castaways parcels as “development sites” when they are listed for sale?
- After over a decade of delays, what is the timeline to build out the Durango development site?
- Does the company still see value in developing a resort hotel on the Flamingo site, which lies between Red Rock Casino and the Durango site?
- When will the conditions of Inspirada’s master-planned community improve enough to warrant building a resort hotel?
- When will the company submit plans for the new hotel tower and meeting space at Red Rock Resort or the meeting space expansion at Sunset Station?
See our report for more information from our review into RRR’s development sites and master-planned expansions.
Check out our map of existing properties and future casino development sites in Las Vegas, including those not controlled by RRR.