Station Casinos has some big plans to expand its presence in Las Vegas. It seems the company is already getting started on several of these projects. Reports have confirmed that the new Station Casinos property is now officially under construction.
Many have been excited to see what this company plans to reveal this year. Now is a great time to look at some of the details surrounding Station Casinos’ most recent property to go under construction.
Let’s get into it!
Construction Has Begun on the New Station Casinos Property
Station Casinos is one of the most successful casino companies in Nevada. It was founded in 1976 and now operates a huge number of casinos around the state. The majority are located in the Las Vegas area and cater primarily to locals.
Officials within Station Casinos have been working to open several new casinos over the last few years. That includes one high-profile new property in Southeast Las Vegas known as Durango Station. The company claims this will be one of its most impressive new casinos to date and has been working to begin construction for months.
Reports surfaced this week claiming that construction on the new Station Casinos property has finally begun. Construction crews have been seen at the site of this new casino, just south of the 215 Beltway. Analysts are curious if this $750 million property will be complete before the end of 2023.
More details on this exciting property are now coming out. It will feature a hotel with more than 200 rooms, four restaurants, and a resort-style pool. Gambling fans will be happy to hear that this property will also feature more than 73,000 square feet of casino space.
More updates on the opening of this venue will come out over the next few months. We’ll be sure to report more on this exciting new property as the year goes on.
Analysts Forecast Lower Tourism Rates to Las Vegas This Year
The twelve months of 2021 were hugely successful for the casino industry in Las Vegas. That was great news for the casinos in this city, all of which struggled tremendously in 2020. Analysts have gone back-and-forth as to how the casinos here will fare in 2022.
At the start of the year, it seemed as if Las Vegas was set for another record-breaking year. The global pandemic has been coming under control and many states have been removing their health restrictions. The hope was that this would lead to increases in tourism.
Many are now casting doubt as to if this city will be successful this year. Rising inflation and a new war in Ukraine have yet to further drops in the stock market and increases in oil prices. This is already having an impact on the economy and appears far from over.
It’s difficult to predict exactly how this situation will unfold. If indeed this situation has a major impact on the US economy, there is reason to believe that fewer individuals will make the trip to Las Vegas this year. That will result in lower revenue figures for the casinos operating in the city.
Several new properties will be opening here that could help to fuel tourism. The new Station Casinos property is now under construction and several more are likely to open their doors here over the next two years. Stay tuned for gaming revenue reports as the year continues.
States Report Casino Revenue Increases in February
The US casino industry is still finding success, despite the unusual situation affecting the US economy. States around the country have recently begun releasing their revenue reports for the month of February. Some have been surprised to find that casino revenue increased in many states last month.
Maryland is one state to experience impressive revenue growth last year. The six casinos operating in this state managed to bring in $162,965,304 in February. That represents a massive 29% increase when compared to February of 2021.
Ohio also reported some impressive revenue gains over February. The casinos here reported $75.2 million in GGR, representing an 11.3% increase from February of 2021. Casey Clark, Senior Vice President at the American Gaming Association, spoke to the media about these gains earlier this week.
“If we look at where 2021 went, beginning with a lot of uncertainty and ending with the greatest year on record for commercial gaming it makes sense that that momentum’s continued into January and February and I’m glad to see Ohio doing so well,” Clark said.
Are you excited to hear that construction on the new Station Casinos property has begun? How will Las Vegas fare in 2022 compared to last year? Let us know in the comments section below.