Purple Rock Resorts (NASDAQ:RRR) introduced at present its trio of still-shuttered casinos — Fiesta Henderson, Fiesta Rancho, and Texas Station — will likely be closed for good, torn down, and the land offered.
The venues have been closed in 2020 quickly after the onset of the coronavirus pandemic. However as casinos throughout the Las Vegas Valley reopened, Purple Rock saved the aforementioned properties and the Palms closed, stoking hypothesis in regards to the casinos’ futures.
Station Casinos mother or father Purple Rock in the end offered the Palms. Final month, it was revealed that the North Las Vegas Metropolis Council signed off on extending the “non-operational” standing of Texas Station and Fiesta Rancho by June 4, 2023.
Mixed, the three casinos sit on 107.5 acres, that means Purple Rock is including to its huge holdings of at the moment unused land all through the Las Vegas Valley. Native media stories don’t point out potential consumers for the properties. However it seems unlikely new gaming venues will exchange them.
For Purple Rock, Sensible to Shut the Casinos
Whereas Fiesta Henderson, Fiesta Rancho and Texas Station have been fashionable amongst guests, and locals needed the casinos to reopen, it’s a smart financial transfer for Purple Rock to completely shutter the institutions.
There have been prices related to the in-limbo standing of the venues, and over the previous two years, patrons converted to different Station casinos. For instance, Henderson residents that beforehand frequented Fiesta Henderson now go to Inexperienced Valley Ranch and Sundown, indicating they’re remaining loyal to Purple Rock properties.
Along with its namesake venue in Summerlin and Inexperienced Valley Ranch in Henderson, Purple Rock operates a number of gaming properties below the Station model all through the Las Vegas space. The corporate additionally runs 10 Wildfire casinos, together with seven in Henderson, in accordance with its web site.
Previous to the pandemic, Fiesta Henderson, Fiesta Rancho, and Texas Station employed roughly 1,750 folks. A 3rd moved on to different Station venues, and the remaining left for different industries or departed the world, stories The Las Vegas Evaluation-Journal.
Purple Rock Planning New Las Vegas Casinos
Whereas Fiesta Henderson, Fiesta Rancho, and Texas Station are closing for good, Purple Rock stays one of many dominant operators within the Las Vegas locals market, and is including extra venues to bolster that standing.
The operator is reportedly in talks with town of North Las Vegas for a brand new gaming venue that may very well be situated a number of miles from some properties operated by rival Boyd Gaming.
Purple Rock can also be below building on a Wildfire on line casino in downtown Las Vegas, and broke floor on the Durango undertaking in Southwest Las Vegas earlier this yr.