Local Las Vegas council to purchase Station Casinos’ Fiesta site

The city of Henderson, Nevada, is considering acquiring the previous Fiesta Henderson casino property for $32 million from Red Rock Resorts. The Henderson City Council members are reportedly mulling over the 35 acre purchase, which could provide the city with a new sports facility.

The council is scheduled to meet on Tuesday December 13 2022 to consider and vote on the purchase. Station Casinos recently demolished the hotel, which was shut down at the onset of the pandemic and remained closed.

According to city documents, the proposed cost of the property is significantly lower than its appraised value of $56.4 million. Funds for the former hotel located on West Lake Mead Parkway close to the 215 Beltway will be acquired from Henderson’s Redevelopment Agency.

The city officials are eyeing the building for an indoor recreational facility that may potentially include volleyball and basketball courts in addition to softball and baseball diamonds that can also be used as turf fields. Fiesta Henderson’s parking garage has been kept unharmed by the city’s request. There is no information concerning the potential cost of the complex or the timeline for its construction.

The director of economic development and tourism in Henderson, Jared Smith, revealed that the local residents would greatly benefit from the sports project. He also noted that tourism in the area would significantly increase, and the property would be a “gateway” to downtown Henderson. The building is right off the freeways as people drive toward Water Street.

“It’s a great location; it’s very visible. It’s almost a billboard for downtown,” Smith said.

Smith received questions about possible issues with the city making such a sizeable purchase upfront and explained that Henderson’s elected leaders had shown support for youth sports. They also reportedly welcome making the city a leader on the national level in the field as it would yield a significant “return on investment.”

Public surveys also indicate that residents of the city want more facilities and local council reports suggest that Henderson “consistently ranks below the national average for the number of recreational centers per resident”.

Smith revealed that more details concerning the envisioned sports complex would be determined via a planning process. The director also confirmed that Henderson had approached Stations Casino concerning the sale of the former Fiesta Henderson casino property.

The casino operator owns several land holdings within the Las Vegas Valley and has been trying to discharge a number of its properties in a bid to overhaul its footprint in the region. Stations Casino successfully sold 21 acres close to its Durango resort which is currently under construction.

The property located in the southwest valley was acquired by an apartment developer for almost $24 million. The gaming operator also plans to sell its closed-down casino properties in North Las Vegas.

Red Rock Resorts, Station’s parent company, had previously announced that it intended to demolish Fiesta Rancho, Fiesta Henderson, and Texas Station. After the demolition, the sites would be sold to interested buyers.

All three properties have been shut down since the COVID-19 lockdown, and according to reports, customers lost interest and moved on to other Station casinos. The money from the sale of the sites will aid in Red Rock’s current building spree, which will double the casino operator’s portfolio by 2030.

Red Rock recently invested $750 million in a new casino on Durango Drive in Southwest Las Vegas. The 73,000-square-foot venue will own a 200-room hotel and a Nevada sportsbook. The operator is also constructing a new Wildfire Casino on the site of the previous Showboat/Castaways Hotel and Casino. The property was purchased by Red Rock in 2004 and then demolished.

The Las Vegas-based resort recently purchased a North Las Vegas property of almost 67 acres for $55 million. Red Rock closed down on the purchase after receiving approval for a 600-room hotel and a 75,700-square-foot casino on the site. The company notably bought a 126 acres property located south of the Strip for around $172 million. Combined, Red Rock has almost 430 acres of unused land holdings across the Las Vegas Valley.

Besides its subsidiaries in the Henderson Green Valley Ranch and Summerlin, Red Rock runs several Station gaming properties throughout the Las Vegas area. It also operates 10 Wildlife casinos, seven of which are in the Henderson area.

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