A separate $65 million expansion also occurred during 2006, and included a $31 million bowling alley, the most expensive in the world. Red Rock Resort was Station Casinos' most expensive property, built at a cost of $925 million, including a hotel expansion that opened in 2007. Groundbreaking began in April 2004, and the resort was topped off in March 2005, before opening on April 18, 2006, as the second casino in Summerlin. A compromise was ultimately reached in January 2004, reducing the hotel tower to 198 feet while removing the timeshare aspect entirely. In October 2003, the project received opposition from people who believed that it would harm the quality of life for Summerlin residents and that it would destroy the views of Red Rock Canyon. The project initially was to include a 23-story, 300-foot hotel tower with 1,000 rooms, as well as timeshare buildings that would be added in a future phase.

The project was announced in July 2002 and is named after the nearby Red Rock Canyon National Conservation Area. It is Station Casinos' flagship property, and the company's corporate headquarters is located on the property. It is owned and operated by Station Casinos on 59.43 acres (24.05 ha) located in the Downtown Summerlin neighborhood. Red Rock Resort is a hotel and casino in Summerlin South, Nevada, located in the Las Vegas Valley. (NASDAQ:RRR) was 2.04%, and its shares gained 38.58% of their value over the last 52 weeks. One-month return of Red Rock Resorts, Inc. (NASDAQ:RRR) stock closed at $46.52 per share. (NASDAQ:RRR) operates casino and entertainment properties. Headquartered in Las Vegas, Nevada, Red Rock Resorts, Inc. (NASDAQ: RRR) in the Q1 2023 investor letter. In addition, please check the fund’s top five holdings to know its best picks in 2023.īaron Real Estate Fund highlighted stocks like Red Rock Resorts, Inc. The firm is optimistic about the prospects for the stock market, public real estate securities, and the fund.

In the first quarter, the fund rose 7.07% (Institutional Shares) compared to a 2.39% return for the MSCI US REIT Index (the “REIT Index”) and a 4.73% return for the MSCI USA IMI Extended Real Estate Index (the “MSCI Real Estate Index”). A copy of the same can be downloaded here. Baron Funds, an investment management company, released its “Baron Real Estate Fund” first quarter 2023 investor letter.

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