At the least two of the 4 gaming venues briefly closed by Station Casinos throughout the early days of the coronavirus pandemic will stay that means for one more 12 months.
Texas Station in North Las Vegas. Station Casinos is holding that venue and Fiesta Rancho closed at the least one other 12 months. (Picture: Eater Vegas)
The North Las Vegas Metropolis Council signed off on extending the “non-operational” standing of Texas Station and Fiesta Rancho by June 4, 2023. In 2020, Purple Rock Resorts (NASDAQ:RRR), the mother or father firm of Station Casinos, opted to purse ongoing closures for the Fiesta Henderson, Fiesta Rancho, Palms, and Texas Station.
July 2020 filings with the Nevada Gaming Management Board (NGCB) point out the 4 aforementioned casinos might stay closed till June 30, 2021. In January, the NGCB granted Purple Rock an extension of the non permanent closures on Fiesta Rancho and Texas Station by the top of this 12 months.
In April 4 letters to Mary Aldava — enterprise license supervisor for town of North Las Vegas — Station Casinos requested that the gaming and liquor licenses for the venues stay in non-operational standing.
What’s Subsequent for Fiesta Rancho, Texas Station
Texas Station’s parking storage has served as a COVID-19 testing web site over the previous two years. However the destiny of that venue, Fiesta Rancho, and Fiesta Henderson isn’t identified.
Sure of our properties will stay closed till we decide when and if to reopen them based mostly on our evaluation of various components, together with the well being of the economic system as a complete, the well being of the Las Vegas economic system, buyer demand and expense of working the properties,” in accordance with Purple Rock’s newest 10Q submitting with the Securities and Trade Fee (SEC).
Native media stories point out that some North Las Vegas residents have affinity for Fiesta Rancho and Texas Henderson, and wish to see the casinos reopened or become one thing else that advantages the general public. Locals additionally expressed concern that the longer the venues stay closed, the higher the possibilities are that the vacated properties turn into bastions of undesirable exercise.
As for Fiesta Henderson, it’s unlikely that venue will reopen this 12 months.
“The Firm will proceed to evaluate the efficiency of its open properties, in addition to the Las Vegas market and the economic system as a complete, earlier than contemplating whether or not to reopen some or all the remaining properties. The Firm has no present plans to reopen any of those properties in 2022,” mentioned Purple Rock within the 10Q.
Sale Hypothesis
As Fiesta Henderson, Fiesta Rancho, and Texas Station stay shuttered, there’s hypothesis — albeit rare — that Purple Rock might promote one, two, or all the venues.
That’s not out of the realm of risk, as a result of the operator in the end bought the Palms, taking a loss within the course of. Beforehand, Purple Rock executives refuted rumors that any of the 4 venues had been on the gross sales block. Clearly, that wasn’t true within the case of Palms.
Owing to more and more enticing demographics, the Las Vegas locals market may very well be compelling to potential patrons of the aforementioned Station On line casino,s or Purple Rock might decide to promote the actual property to patrons with non-gaming plans. Nonetheless, the corporate hasn’t publicly commented on sale potentialities for the venues.
