Nevada gaming regulators okay Red Rock Resorts getting into the tavern business
Regulation · 2024-08-07

Nevada gaming regulators okay Red Rock Resorts getting into the tavern business

Nevada regulators are paving the way for Red Rock Resorts to get in on the tavern gaming business where they will compete in Las Vegas against Golden Entertainment.

The Nevada Gaming Control Board recommended that the Nevada Gaming Commission enable Red Rock to add to its casino operations. The licensing of the taverns requires an amendment to Red Rock’s order of registration.

Red Rock attorney Marc Rubinstein told the Board that the company operates a number of smaller properties under its Wildfire brand and believes this new tavern brand and division “are a natural progression of its business model of serving the local population.”

Red Rock submitted applications to open two taverns, one at 7225 Aliante Parkway in North Las Vegas, the other at 6345 N. Lamb Blvd. in North Las Vegas. Two more applications are pending and three more locations are in the pipeline after that.

“How many ultimately get developed and opened will depend on market conditions and the ability to identify suitable tavern sites,” Rubinstein said.

Red Rock’s Christopher Fiumara, chief of operations, said all seven will be completed by the end of 2025 or early 2026. The Lamb Boulevard location will open at the end of September, while the Aliante Parkway will open in January.

In a previous earnings call, Red Rock President Scott Kreeger told Wall Street analysts that the tavern business is a great investment, with “a unique customer with a different profile than our core customer. It skews younger and toward the sports better. So we like that kind of customer.”

At the time, Kreeger talked about two additional taverns coming online in early 2025 and the remainder throughout the year.

“We’re actively seeking to grow our number of units in the market and we think it’s an opportunity for us to expand into what we call the micro market within the valley,” Kreeger said.

Lorenzo Fertitta, vice chairman of the board, said, “Everyone is focused on different segments of the market at that end of the business. What we call smaller properties seem to be very healthy and consistent and actually growing. So as a sign relative, it’s a very local market, but that’s going very well from an operating standpoint.”

Nevada Independent gaming reporter Howard Stutz in May called this is a version of a family feud. Golden CEO Blake Sartini is the brother-in-law of Red Rock’s top executives, CEO Frank Fertitta III and Lorenzo Fertitta.

“The Fertittas and the Sartinis have long played on opposite sides of the gaming sandbox,” Stutz wrote. “Red Rock Resorts has dominated the Las Vegas locals casino market and Golden Entertainment has single-handedly expanded southern Nevada’s tavern industry. The lines between the companies blurred in 2018 after Golden’s $850 million purchase of American Casino & Entertainment Properties that included the two Arizona Charlie’s casinos,” Stutz wrote. “That gave the company a small piece of the neighborhood casino business currently dominated by Red Rock.”

Taverns, which are often a combination of a restaurant and bar, have a maximum limit of 15 slot machines, which are found in a bar-counter format.

Please fill out the form to send a message to the CDC Gaming Reports team. Alternatively, you can send an email to the address on the footer of each page.

熱門文章
2027 Global Game Connect(GGC)斯里蘭卡招商全面啟動!業務人脈盡在掌握!
灰度頭條
越南博彩管控逐步放寬,惟本土需求仍顯乏力
東南亞資訊
哈薩克計劃對線上賭場促銷活動進行處罰
合規與政策
超級PAC籌資4800萬美元:體育博彩勢力加碼
合規與政策
JILI 宣佈與全球板球傳奇 AB de Villiers(ABD)達成重磅戰略合作
體育遊戲
菲律賓網絡賭博和加密貨幣仍構成持續的洗錢風險
東南亞資訊
亞洲遊戲市場觀察:15大市場熱門遊戲與用戶趨勢
網路遊戲
菲律賓博彩技術賽道迎來新變局,B2B 供應模式加速滲透
東南亞資訊
印度最高法院受理公益訴訟,要求全國禁封「偽裝」成社交遊戲的賭博平台
合規與政策
橫跨全球6個城市,灰度8場派對邀你共看世界盃,重塑高質量社交新場景
灰度頭條
新澤西州7月博彩收入創6.06億美元新高,頒布禁令
合規與政策
越南在線博彩業政策收緊 催生市場新機遇
東南亞資訊
巴西擬將博弈稅率提高至24% 稅收將用於社保與醫療領域
合規與政策
印第安納州在線賭場法案在眾議院委員會停滯不前
合規與政策
斯里蘭卡博弈產業大轉型,官方:劍指南亞拉斯維加斯
合規與政策
首頁
遊戲
合作
發現
我的