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twitterRed Rock development on track
Thursday, Jan. 15, 2004 | 11:13 a.m.
The hotel-casino is expected to cost about $450 million to $475 million, of which about $375 million to $400 million remains to be spent, the company said.
In its first year of operation, the project is expected to generate about $60 million to $65 million of cash flow and add about 6 to 11 cents in incremental earnings per share. By its third year of operation, Red Rock Station is expected to generate $80 million to $85 million in cash flow and add 25 cents to 31 cents in incremental earnings per share.
The figures mark the first financial details of Red Rock Station since the Clark County Commission approved the project this month. The commission approved a 1,000-room, 198-foot hotel tower, smaller than the 1,500-room, 300-foot tower that Station had requested, in response to opposition from residents.
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