The CEO of Red Rock Resorts the parent company of Station Casinos Frank Ferittta III announced yesterday that he doesn’t know when or if the Palms, Texas Station, Fiesta Henderson and Fiesta Rancho will reopen.
This is bad news for employees of these properties and for any of these properties to reopen demand must improve which doesn’t look likely at the current time. The visitation to Las Vegas at the moment is extremely light and with your current open properties struggling why would you open more properties.
The Palms received a major remodel of its pool area, day club and nightclub and other areas after Station Casinos took over which didn’t seem to help the property even before the current pandemic.
For the moment Station Casinos will just keep these properties closed and wait and see what happens. It could sell properties but at the moment in the current pandemic situation you would be selling at fire sell prices.