The chief operating officer of Station Casinos told Nevada regulators Wednesday that the company’s ability to keep costs down, provide value, and cater to high-end customers helped Red Rock Resorts achieve record second-quarter earnings.
Kord Nichols, who is also an executive vice president, made his comments to the Nevada Gaming Control Board, from whom he received a recommendation to be licensed. With Station Casinos since 2008, Nichols worked in several positions before becoming COO. He has served in that position since March 2024, overseeing day-to-day operations of over 19 properties.
Board Chairman Mike Dreitzer asked Nichols for an explanation of what’s happening in the neighborhood casino market that’s faring better than Strip resorts.
“Unlike our other counterparts on the Strip, we rely on guests to come four to six times a month,” Nichols said. “That happens by providing great service and making sure our team members get the tools they need to be successful. We also take care of our buildings and reinvest in our properties. The second quarter was our best ever and you see across the valley we’re hitting on all cylinders.”
Red Rock Resorts enjoys best quarter in its 49-year history as Las Vegas locals market thrives
Nichols said focusing on employee and guest experiences triggers repeat visitation. “The straw that stirs the drink in our company are our 9,300 team members. They spend the time and energy with our guests.”
Nichols said such a strong earnings comes down to understanding what customers are going through. In a lot of cases, that means lowering the cost of food and beverage prices.
“We lower the cost, so if someone wants a great steak or cheap burger, they can you get it,” Nichols said. “People come in multiple times a month, because we scale to all audiences across the valley. We do that by providing value and luxury at their properties, from steakhouses and cafes to high-limit rooms and main pits.”
The Board also recommended Station Casinos get licensed to open its third tavern under its Seventy Six brand in Henderson.
Seven taverns are in the pipeline to open in 2025 and 2026. Two applications are pending.
“We’re really excited about our product,” Christopher Fiumara, the senior vice president of operations for Red Rock. “They’re doing well. The first one was close to Nellis Air Force Base. We’re waiting for the housing to catch up in the area. The other is in Aliante across from Aliante Casino and doing extremely well. It’s been a positive response by the community and I’m happy to keep this train rolling with the new tavern product.”
The taverns compete with those of fellow casino gaming operator Golden Entertainment.
Fiumara said they work with real estate developers in the valley and keep close attention on population trends.
“We’re in the locals market,” Fiumara said. “We draw from three to five miles for our (casino) properties and the taverns are maybe one to two miles. We work with developers on where building permits are going and housing is going and try to penetrate those areas.”
