Red Rock Resorts 2nd-quarter revenue up 1.5 percent

Courtesy Photo

A renovated penthouse bedroom at the Palms.

Red Rock Resorts, the parent company of Station Casinos, generated $416.2 million in second-quarter revenue, an increase of 1.5 percent compared to the same period last year, the company announced today.

The increase in net revenue was largely due to an increase in Las Vegas operations, which was partially offset by a decrease in management fees from Native American casinos.

Las Vegas operations net revenue was $393.7 million for the second quarter of 2018, a 4.1 percent increase from the same period in 2017. This is despite two of its properties — the Palms and Palace Station — being subjected to construction disruptions.

The first phase of the Palms’ $620 million renovation opened during the second quarter of 2018 and included new dining, bar, and nightlife options.

The second phase will feature 282 redesigned and renovated hotel rooms and suites — including the Fantasy Tower suites— and 60 new rooms. The rooms are expected to be in use by the end of October, said Stephen Cootey, executive vice president of Red Rock Resorts.

Also, 528 new covered parking spaces will be complete in October.

By the end of the year, 15,000 square feet of renovated meeting and space and new Italian and barbecue restaurants are set to open.

In the spring, the Palms will introduce another restaurant and two clubs in partnership with Tao Group — a nightclub and a pool club.

The third phase, set for completion in fall 2019, includes a casino expansion.

“Once fully complete, we are confident this redevelopment will create one of the most exciting gaming and entertainment destinations in town,” Cootey said.

The $192 million renovation of Palace Station, meanwhile, includes an expanded gaming floor, a new buffet, new pool, 300 additional parking spaces and new dining options.

Additions set to come online in the fall include 575 renovated hotel rooms, new restaurants, a renovated sports book and poker room.

In December, Regal Cinemas will open a nine-screen movie theater with luxury recliner seating and food and drink service.