LAS VEGAS ( KLAS ) — Lorenzo Fertitta knows a smash when he sees one. And that’s how he described customers’ reactions to the new Durango Casino & Resort on Wednesday.
Fertitta, chairman of Station Casinos and director of Red Rock Resorts, Inc., — and a billionaire after he and older brother Frank Fertitta III sold Ultimate Fighting Championship in 2016 — talked about the successful opening and what might happen next at Durango.
In a Wednesday earnings call with investors, Red Rock reported a 3.6% increase in revenue over 2023 and a total of $1.72 billion for the year. That was on the strength of a fourth quarter that brought an 8.8% increase in revenue — $462.7 million.
The new $615 million Durango resort opened Dec. 5 in the southwest Las Vegas valley. But Lorenzo Fertitta said the company is already “pretty far along” with plans to add more hotel rooms, entertainment and restaurants — referred to as Phase 2 of the Durango resort.
He said customers especially like Durango’s new restaurants, including the design connecting the sportsbook to The George restaurant. The new property is putting into action ideas that the Fertittas have for future properties, including a new resort in Inspirada. The company owns 441 acres in the Las Vegas area, and it’s trying to prove its methods with every move.