New variants and travel restrictions or fears are still major risk factors for casino operators. The focus on locals also comes with less risk from travel restrictions due to COVID-19. In addition, 90% of the Las Vegas population lives within five miles of a Red Rock Resorts-owned casino. Many people may not know that the Las Vegas Locals market, casinos that are off The Strip, is larger than all of New Jersey, the next largest market.Īccording to Red Rock Resorts, the Las Vegas Locals market was worth more than $2.7 billion over a 12-month period ending September 2021 compared to just $2.4 billion for New Jersey, which includes Atlantic City. (See Analysts’ Top Stocks on TipRanks) Focus on the Locals The core audience is the Las Vegas Locals market. However, they are not on the famous Las Vegas Strip. The company’s properties are primarily located in Las Vegas. Red Rock Resorts ( RRR) is a casino and entertainment facilities operator in the United States.
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