Impending demise of Fiesta Henderson opens opportunities for smaller casino operators

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Impending demise of Fiesta Henderson opens opportunities for smaller casino operators. Joe DeSimone and Tim Brooks are hoping to buy the closed Fiesta. Red Rock Resorts will not reopen the two North Las Vegas casinos that had been closed since March 2020. The company will sell the sites after demolishing the buildings and "reposition the land". It will also build Durango Station near the 215 Beltway in the southwest valley.  Red Rock acquired the Fiesta in 2001. It is spending $172.4 million to acquire 126 acres at the corner of Las Las Vites Boulevard and Cactus Avenue.

Impending demise of Fiesta Henderson opens opportunities for smaller casino operators. Last year, Boulder Strip had a single-year high of $967.2 million in gaming revenue. The previous record was $ 938. 2 million set in 2007. through May, the Boulder strip gaming revenues are up almost 5 percent compared with a year ago.

Fiesta Henderson closed. Most of the business from the three casinos moved to Station Casinos properties in the Las Vegas Valley. Some of that business migrated to Brooks' Water Street casinos. DeSimone is building a travel center for truckers and hotel on his 20 acres. He is also building 90 hotel rooms at The Pass. The state's gaming shutdown in 2020 will affect the future of Fiesta Henderson. Red Rock wanted to wait and see how the market played out. It will not be necessary to build another 235 rooms.

Red Rock Resorts is closing three casinos and will have to incur costs to keep them operational. The company and Boyd Gaming are dominant casino operators in Southern Nevada. There are few small casino companies in the Las Vegas Valley. The sale of the Fiesta location is a protectionist move to block a prime site for future gaming. CBRE executive vice president Michael Parks says Red Rock could place deed restrictions on the property prohibiting gaming uses going forward. In 2018, RedRock sold 25 acres of a site along Boulder Highway near Charleston Boulevard that once housed the former Showboat Hotel.