LAS VEGAS (KLAS) — Station Casinos has reopened 16 of its properties but four remain closed without opening dates.
Texas Station, Fiesta Henderson, Fiesta Rancho and the Palms could remain closed for months, according to company executives who released the information during a second-quarter earnings call Tuesday.
Red Rock Resorts, the parent company of Station Casinos, said it would have to reassess the performance of the properties that have reopened before opening the additional properties, especially the Palms adding decisions will “be in the best interest of shareholder value.”
It was revealed the company’s revenues have dropped 77% when compared to the previous year but performed better than expected following a 79-day closure due to the pandemic. In part, because of cost savings actions which included executive pay cuts.
The company says it can continue to pay staff for 20 months even with no earnings.