(RRR), entered into the $312.5 million agreement for the acquisition of the Palms in May. Marc Falcone, who is currently Executive Vice President and Chief Financial Officer for both Station Casinos LLC and Fertitta Entertainment LLC, reportedly told state gaming regulators that the additional slot machines were among the first improvements made to the property when it and parent company, Las Vegas-based Red Rock Resorts, Inc. Latest Casino and Gambling News, Las Vegas, Casino project updatesĪn executive for Summerlin-based Stations Casinos LLC reportedly told the Gaming Control Board on Wednesday that the company has begun or is in the planning stage of renovating a buffet and cafe and adding 280 new slot machines at its Palms Casino Resort located on Flamingo Rd in Las Vegas, according to the Las Vegas Review-Journal. Betting on sports futures, props and lay bets.That purchase included the Santa Fe Casino and land across from Sunset Station that was in the early planning stages for a new casino resort. That was the case when it acquired land in Henderson as part of its deal for Santa Fe Resorts, Klebanow said. Station Casinos, Red Rock Resorts’ predecessor company, had a strategy whereby they locked out potential gaming competition, either by buying up existing gaming assets, as in the case of the Fiesta acquisition, or selling land zoned for casino gaming with the caveat that those parcels could no longer be developed as casinos, Klebanow said.

Economically, it just didn’t make sense.” “Were they to reopen those properties, operating margins at Santa Fe Station, Green Valley Ranch, and Sunset Station would have gone down, as they would have had to compete again with those three casinos. “The pandemic and the temporary closure of those three properties allowed Red Rock Resorts an opportunity to seriously evaluate the need for those casinos, given that they already had a number of more attractive properties in close proximity,” Klebanow said. It’s the culmination of both the North Las Vegas and Henderson markets having had too much gaming capacity, he added. Andrew Klebanow, a principal at C3 Gaming, said last week’s announcement by Red Rock Resorts didn’t come as a surprise.

Station casino buys palms