Data reports issued by the Nevada Gaming Control Board showed December 2020 revenues were the lowest monthly figures for the state since August 1997. Red Rock’s losses are just a small portion of how the COVID-19 pandemic affected the economy of Nevada. This is a nice increase from the same time the previous year when they recorded only $6.8m in earnings. The company would finish 2020 with $49.6m in net income for the fourth quarter.

In Las Vegas, net revenues for the fourth quarter came in at $316.2m, a considerable drop of $121.8 from 2019. Properties generated a total of $1.2bn in net revenues, a 36% decrease from 2019. In 2020, the COVID-19 pandemic affected Red Rock Resorts significantly. The company provided payroll and health benefits to its full-time workforce during the shutdown. When the pandemic first became a problem in the United States, Red Rock Resorts laid off about 39% of its employees. The closed Station Casinos plan to review the rollout of vaccinations when considering reopening dates.

This age group is more at risk of COVID-19 infection and illness.

These casinos rely on an older customer base in the 65+ range. The Palms, Fiesta Rancho, Fiesta Henderson, and Texas Station will not reopen any time soon. In November, that number was slashed to 25%, which has slowed services considerably. At the time of reopening, casinos could operate at 50% capacity. Station Casinos have older customer baseĭuring the conference call, Fertitta pointed out there are now more restrictions in place than when the casinos opened back up in June 2020. Last year, the company’s casinos that did open saw an increase in younger players, but the capacity restrictions at the end of the year caused customers to stop visiting on a frequent basis. The company suffered a net loss of $174.5m in 2020 and is now looking toward 2021 in the hopes of recovery. In a recent conference call, CEO Frank Fertitta III said that the casinos would remain closed until the tourist market returns. Four Red Rock Resorts casinos in the Las Vegas area operating under the Station Casinos umbrella have been closed for almost 11 months because of the COVID-19 pandemic.

Fiesta station casino