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81-457: After opening in November 2008, the resort operated at a financial loss. Station Casinos filed for bankruptcy the following year, and the resort's ownership was transferred to a holding company . Profits subsequently improved, and Station Casinos continued managing the property until November 2012, when it was renamed Aliante Casino and Hotel. Parts of the resort were then rebranded and refurbished, at

162-436: A holding company , was created to own the resort, with its largest shareholders being Apollo Global Management (20%), Standard General (28%) and TPG Capital (20%). After the ownership change in November 2011, profits improved over the next year. Station Casinos continued to manage Aliante Station under an agreement with the new owners until November 1, 2012, when the resort was renamed Aliante Casino and Hotel. The Aliante

243-499: A 20-table poker room. The casino included nearly 3,200 slot machines, with slightly more than half of them being video poker . The casino also included a bingo room, while its sportsbook contained 213 seats and five VIP booths, with its signature attraction being three jumbo screens, measuring 18 feet by 32 feet. The sportsbook included bar service, as well as food service from the adjacent Turf Grill. The resort also featured 94,000 sq ft (8,700 m ) of meeting space, and

324-460: A 23-story, 300-foot (91 m) hotel tower with 1,000 rooms in its first phase, while future phases would add two 23-story, 200-foot (61 m) timeshare condominium towers with 250 rooms each, for an ultimate total of 1,500 rooms. The project would require an exemption from county officials, as the land was only zoned for towers up to 100 feet (30 m). In October 2003, the project received opposition from people who believed that it would harm

405-535: A 3,300-space parking garage. The resort also had 14,000 sq ft (1,300 m) of convention space with capacity for up to 1,000 people, in addition to an arcade and a 700-person pool. The resort's 16-screen all- digital movie theater, operated by Regal Cinemas and measuring 81,000 sq ft (7,500 m), held its grand opening on November 14, 2008, after two days of bargain previews. The resort's 3,500 sq ft (330 m) Access Showroom, designed by Scéno Plus , also opened on November 14, with

486-569: A campaign fundraiser at the resort. After winning the 2010 Nevada gubernatorial election , Brian Sandoval celebrated his victory at the Red Rock Resort. During late 2011, the Red Rock Resort was the only casino in Nevada to offer the "Bonus Box," the name used for cylindrical containers attached to slot machines that dispense prizes to gamblers. At the resort, the cylinders each contained $ 500 and were attached to 10 different slot machines as part of

567-437: A cost of $ 2.8 million. Boyd Gaming purchased the hotel-casino in 2016, at a cost of $ 380 million. Mike Montandon , mayor of North Las Vegas, Nevada , was initially against the inclusion of a casino in the planned community of Aliante during its early planning stages in 2002, although he was ultimately convinced by the community's developers that it would be a good idea. In October 2002, 40 acres (16 ha) of property at

648-656: A desert theme. Its design was inspired by Scottsdale, Arizona , and company officials described it as "contemporary Scottsdale with a combination of muted and vibrant colors." A modern design was chosen after positive customer reactions to Station Casinos' Red Rock Resort , which opened in April 2006 with a modern design. The resort included Earth tones and crystal adornments, similar to the larger Red Rock Resort. Aliante Station included approximately 1,400 employees at its opening, including 350 who transferred from Station Casinos' other resorts. The resort had 5,000 parking spaces, including

729-453: A field test, which was viewed favorably by customers. After winning the 2012 Nevada caucus , U.S. presidential candidate Mitt Romney held a victory party and speech at the resort. Also during 2012, a 79-year-old woman bowled a perfect 300-score game at the resort's bowling alley, becoming the oldest woman in Nevada history to score a perfect game and the second-oldest woman in U.S. history to do so. In April 2014, plans were announced for

810-468: A financial loss due to below-average operating margins , and its employee count later decreased to 880. After Station Casinos filed for bankruptcy in July 2009, Aliante was handed over in November 2011 to its creditors , a group of nine banks and three private equity firms that were owed more than $ 378 million, while the property's estimated liquidation value was only $ 47–53 million. ALST Casino Holdco LLC ,

891-460: A handful of projectors, used since the 2006 opening, and replaced them with an LED video wall measuring 18 feet high and 96 feet long. Most of the hotel rooms were renovated from 2019 to 2020. In 2019, resort employees voted against unionizing with the Culinary union, after Station introduced new worker incentives and benefits. A federal judge ruled in 2021 that the company's rollout of the benefits

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972-410: A hotel expansion that opened in 2007. A separate $ 65 million expansion also occurred during 2006, and included a $ 31 million bowling alley, the most expensive in the world. A six-month, $ 35 million expansion was announced in 2014, and included the addition of several new restaurants. The resort includes a 118,309 sq ft (10,991.3 m ) casino, a 796-room hotel, a 3-acre (1.2 ha) pool area,

1053-466: A luxury spa. The 3-acre (1.2 ha) pool area was located in the center of the resort property, surrounded by several restaurants, clubs, and the spa. A 16-screen movie theater, operated by Regal Cinemas , opened on April 21, 2006. As of July 2006, groundbreaking had begun on a 72-lane bowling alley, while the hotel expansion opened in January 2007. The bowling alley and an additional 1,000 spaces to

1134-573: A matter of broadcast regulation . In the United States, a personal holding company is defined in section 542 of the Internal Revenue Code . A corporation is a personal holding company if both of the following requirements are met: A parent company is a company that owns enough voting power in another firm (or subsidiary ) to control management and operations by influencing or electing its board of directors . The definition of

1215-425: A parent company differs from jurisdiction to jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction. When an existing company establishes a new company and keeps majority shares with itself, and invites other companies to buy minority shares, it is called a parent company. A parent company could simply be a company that wholly owns another company, which

1296-443: A parking garage were part of a $ 65 million expansion, while the additional hotel rooms were included in the resort's original $ 925 million cost. An expansion to the resort's spa was also planned to open in early 2007, along with the new hotel rooms. The $ 31 million bowling alley, the most expensive in the world, opened in 2007, and included various amenities including a bar. In 2007, U.S. presidential candidate Rudy Giuliani held

1377-596: A performance by Smokey Robinson . The showroom included seating for 600 people, and could be arranged into a 340-seat lounge. The hotel also opened on November 14, with 202 rooms and 9 suites, while a planned future phase would add a second hotel tower for an additional 202 rooms. Similar to the Green Valley Ranch arrangement with The Greenspun Corporation, Station Casinos received a management fee of two percent of revenues for Aliante Station, and five percent of its cash flow. After its opening, Aliante Station operated at

1458-441: A price between $ 450 million and $ 475 million. The Red Rock resort was built in what would eventually become Downtown Summerlin . A groundbreaking ceremony was held for the resort on April 15, 2004, with an opening scheduled for early 2006. Perini Building Company was the general contractor for the project, which was designed by Portland -based Architropolis, Las Vegas-based The Friedmutter Group, and SADI. In May 2004,

1539-459: A result of increased construction costs and design changes. An opening date of March 2006 was expected. For customer convenience, the resort was built with six entrances, two parking garages, two parking lots, and two valets. Station Casinos planned to hire 2,600 people for the Red Rock Resort, with approximately half of them expected to be transferred employees from the company's other local properties. More than 100,000 people applied for jobs at

1620-498: A six-month, $ 35 million expansion that was scheduled to be complete by October 2014. The upcoming opening of the nearby Downtown Summerlin mall prompted the resort's renovation project. The project would include the addition of a "restaurant row" along the resort building's entrance facing West Charleston Boulevard. Also planned was a new parking and drop-off area across from the mall, as well as an enhanced entrance accessible by mall shoppers. The implementation of easy customer access

1701-516: A spa, 94,000 sq ft (8,700 m ) of meeting space, and a 16-screen movie theater. The hotel tower is the second tallest building in Summerlin after One Queensridge Place . In July 2002, Station Casinos and Howard Hughes Corporation made a deal that gave Station Casinos the option to purchase a 73-acre (30 ha) (later 67.6 acres) site in Summerlin, Nevada , at the southeast corner of

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1782-465: A tending subsidiary of the purchasing company, which, in turn, becomes the parent company of the subsidiary. (A holding below 50% could be sufficient to give a parent company material influence if they are the largest individual shareholder or if they are placed in control of the running of the operation by non-operational shareholders.) In the United Kingdom, the term holding company is defined by

1863-536: A time which was considered lucky. It was the first new hotel-casino to open in North Las Vegas since the Cannery Casino and Hotel in 2003. A pre-opening party was held for nearly 3,000 invited guests, and included an hour-long concert performance by Sheryl Crow . Guests included George Maloof , Terrence Lanni , and other gaming company officials. Aliante Station included the largest casino in North Las Vegas at

1944-458: Is defined by Part 1.2, Division 6, Section 46 of the Corporations Act 2001 (Cth) , which states: A body corporate (in this section called the first body) is a subsidiary of another body corporate if, and only if: Toronto-based lawyer Michael Finley has stated, "The emerging trend that has seen international plaintiffs permitted to proceed with claims against Canadian parent companies for

2025-453: Is sometimes done on a per- market basis. For example, in Atlanta both WNNX and later WWWQ are licensed to "WNNX LiCo, Inc." (LiCo meaning "license company"), both owned by Susquehanna Radio (which was later sold to Cumulus Media ). In determining caps to prevent excessive concentration of media ownership , all of these are attributed to the parent company, as are leased stations , as

2106-585: Is then known as a " wholly owned subsidiary ". Red Rock Resort Red Rock Resort is a hotel and casino in Summerlin South, Nevada , located in the Las Vegas Valley . It is owned and operated by Station Casinos on 59.43 acres (24.05 ha) located in the Downtown Summerlin neighborhood. It is Station Casinos' flagship property, and the company's corporate headquarters is located on

2187-428: Is to own stock of other companies to form a corporate group . In some jurisdictions around the world, holding companies are called parent companies , which, besides holding stock in other companies, can conduct trade and other business activities themselves. Holding companies reduce risk for the shareholders , and can permit the ownership and control of a number of different companies. The New York Times uses

2268-473: The Companies Act 2006 at section 1159. It defines a holding company as a company that holds a majority of the voting rights in another company, or is a member of another company and has the right to appoint or remove a majority of its board of directors, or is a member of another company and controls alone, pursuant to an agreement with other members, a majority of the voting rights in that company. After

2349-647: The Great Recession . Station Casinos' target clientele was a combination of the company's current customer base, the 6,500 households in the Aliante community, tourists, and visitors to the nearby Las Vegas Motor Speedway . The project was completed at a cost of $ 662 million. Following a fireworks show, the Aliante Station opened early, at 10:40 p.m. on November 11, 2008, due to large crowds gathered outside. The resort had been scheduled to open at 11:11 p.m.,

2430-489: The Green Valley Ranch hotel-casino. Under the deal, Station Casinos would build and manage the resort, which would include approximately 200 hotel rooms and 2,000 slot machines. Construction would cost between $ 400 million and $ 450 million, with joint financing from both companies. Construction was expected to begin in late 2006 or early 2007, with an opening in mid-2008. In September 2006, Station Casinos announced that

2511-465: The Las Vegas Beltway and west Charleston Boulevard . That month, Station Casinos announced plans to build a then-unnamed hotel-casino on the property. The company had until October 2002 to purchase the property for a total of $ 65 million. Station Casinos expected to complete its purchase of the land by June 2003, with construction scheduled to begin late that year or in early 2004. Construction

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2592-613: The financial crisis of 2007–2008 , many U.S. investment banks converted to holding companies. According to the Federal Financial Institutions Examination Council 's website, JPMorgan Chase , Bank of America , Citigroup , Wells Fargo , and Goldman Sachs were the five largest bank holding companies in the finance sector, as of December 2013 , based on total assets. The Public Utility Holding Company Act of 1935 caused many energy companies to divest their subsidiary businesses. Between 1938 and 1958

2673-583: The Cherry nightclub, after parting ways with Gerber. The Cherry nightclub reopened in June 2009, after a remodeling that included the addition of a stage. At that time, Cherry consisted of 13,000 sq ft (1,200 m ), including an outdoor area with a pool, known as Cherry Pool during the summer. Cherry also included a DJ, and was meant to appeal to local residents through promotions. Cherry closed in January 2010, and Station Casinos began evaluating better uses for

2754-510: The Looking-Glass , began at the Rocks Lounge in July 2017. The second season of Hell's Kitchen , aired in 2006, offered the winner the executive chef position at T-Bones Chophouse. The winner of the contest was a 25-year-old sous chef from New York named Heather West, but Red Rock management instead decided to give her a position suitable to her skills: senior chef at Terra Rossa,

2835-472: The Red Rock Resort had made $ 44 million in profit. The resort opened with 415 hotel rooms, approximately half of its final room count. The remaining rooms, part of an expansion to the hotel tower, were expected to be open by December 2006. The Red Rock Resort was only the second casino to open in Summerlin, after the Rampart. The 87,000 sq ft (8,100 m ) casino featured 62 gaming tables, including

2916-572: The Red Rock Station because of the company's non-union status, a claim that was denied by the union. In late October 2003, Station Casinos held an event to educate residents about the project and to answer questions. Nearly 250 people attended the event, which received a mixed reaction of opposition and support. Several days later, the Clark County Planning Commission approved the 300-foot tower. Residents continued to oppose

2997-552: The Red Rock Station passed the Clark County Commission's design review without opposition. In December 2004, despite residential opposition, the Clark County Commission approved two signs for the future resort: an 80-foot high sign with a video screen, to be built on the east side of the Las Vegas Beltway; and a 50-foot high sign, also with a video screen, to be built on West Charleston Boulevard. As of January 2005,

3078-504: The Sandbar pool area. In 2015, the resort began offering Rock Shot Bingo, a version of bingo featuring alcohol and a DJ, to appeal to younger customers. Zowie Bowie, a cover band , performed at the Rocks Lounge for nearly 10 years, from the resort's opening until January 2016. A dance show titled Alice: A Steampunk Concert Fantasy , based on the books Alice in Wonderland and Through

3159-455: The United Kingdom, is generally held that an organisation holding a 'controlling stake' in a company (a holding of over 51% of the stock) is in effect the de facto parent company of the firm, having overriding material influence over the held company's operations, even if no formal full takeover has been enacted. Once a full takeover or purchase is enacted, the held company is seen to have ceased to operate as an independent entity but to have become

3240-492: The allegedly wrongful activity of their foreign subsidiaries means that the corporate veil is no longer a silver bullet to the heart of a plaintiff's case." The parent subsidiary company relationship is defined by Part 1, Section 5, Subsection 1 of the Companies Act, which states: 5.—(1) For the purposes of this Act, a corporation shall, subject to subsection (3), be deemed to be a subsidiary of another corporation, if — In

3321-607: The chandeliers, having been inspired by older Las Vegas resorts such as the Desert Inn and the Sands Hotel and Casino . The chandeliers cost over $ 6 million. The Lucky Bar features a chandelier with more than 1.6 million crystals. The Red Rock opened with a total of nine restaurants, including T-Bones Chophouse and the Feast Buffet. The resort also included a seven-tenant food court . A Japanese sushi restaurant, Hachi, opened at

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3402-476: The hotel contains 796 rooms. The resort has a modern design with a desert-themed influence. The resort's design includes blown glass , polished sandstone , and 5,400 sq ft (500 m ) of multicolored onyx imported from India and Italy. The resort also features numerous chandeliers in various shapes and sizes, containing three million pieces of crystal. Station Casinos executives Frank Fertitta III and his brother Lorenzo Fertitta chose to include

3483-430: The hotel's rooftop. In April 2006, the Clark County Commission unanimously granted zoning approval to Charleston Station LLC – mostly owned by Station Casinos – to build the condominium project, despite some citizens' opposition to its height. A sales center for the project was opened inside the Red Rock Resort. The project was known as Red Rock Residences and The Residences at Red Rock . Station Casinos dissolved

3564-506: The most expensive locals casino ever built in Las Vegas. The project was topped off on March 24, 2005, at which point it was known as Red Rock Resort Spa Casino. "Resort" was added to the name instead of the usual "Station" name used with the company's other properties, in order to denote the Red Rock property's luxury image. By July 2005, the project's cost had increased to $ 925 million as

3645-611: The nearby views. At a cost of approximately $ 4,000, Culinary and the Sierra Club mailed fliers to more than 10,000 residents, urging them to tell the Clark County Commission to reject the 300-foot tower. It was the first time that the union had teamed up with an environmental group to become involved in an environmental issue. At the time, Culinary had been involved in an ongoing effort to unionize Station Casinos' 11,000 employees. Station Casinos stated that Culinary only opposed

3726-440: The northeast corner of the Las Vegas Beltway and Aliante Parkway were set as the future site of a hotel-casino in the community. The land was owned by The Greenspun Corporation through its American Nevada Company, which was co-developing the Aliante community. Aliante Station was announced on December 20, 2005, as a joint project between Station Casinos and The Greenspun Corporation, which had previously partnered in developing

3807-571: The number of holding companies declined from 216 to 18. An energy law passed in 2005 removed the 1935 requirements, and has led to mergers and holding company formation among power marketing and power brokering companies. In US broadcasting , many major media conglomerates have purchased smaller broadcasters outright, but have not changed the broadcast licenses to reflect this, resulting in stations that are (for example) still licensed to Jacor and Citicasters , effectively making them such as subsidiary companies of their owner iHeartMedia . This

3888-453: The opening, as did Andre Agassi and officials from rival casino companies. Singer Sting held a one-hour concert at the resort's pool area as part of the grand opening celebration, which also included a six-minute fireworks show. Built at a cost of $ 925 million, the Red Rock Resort was Station Casinos' most expensive property. Approximately 80 percent of revenue was expected to come from local residents. Within six months of its opening,

3969-405: The opposition, noted that the property had been zoned for gaming for more than a decade prior. Nearby homeowners had also been informed upon purchasing their houses that the land was zoned for a potential casino project. The Culinary Workers Union , along with environmental organizations Sierra Club and The Conservation Fund , joined opponents of the project, stating that the tower would ruin

4050-421: The partnership with Cloobeck and Molasky in June 2006, and planned to develop the project on its own, with completion expected by 2008. Cloobeck Molasky requested arbitration on the matter in July 2006, as well as damages from Station Casinos. Cloobeck accused Station Casinos of attempting to "hijack" the project. In September 2006, Station Casinos announced that it was considering alternative possibilities for

4131-489: The project as Charleston Station. By April 2003, the project had been named "Red Rock Station", after the Red Rock Canyon National Conservation Area , located approximately three miles away. Like its recent Green Valley Ranch resort, Station Casinos planned for the Red Rock Station to target upscale tourists and local residents as its primary clientele. The project initially was to include

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4212-406: The project or its tower; 97 of the messages were from supporters. The county had also received over 3,200 emails and letters, with approximately 100 of them in support of the project. That month, the Clark County Commission delayed a vote on the project until January 2004, while telling opponents and supporters to work on a compromise ahead of the vote. Station Casinos stated that a 300-foot tower

4293-493: The project's budget had increased to $ 600 million as the result of rising construction costs, in addition to redesigned plans for a larger resort. Rising construction costs accounted for approximately $ 30 million of the increased budget. Groundbreaking took place on February 22, 2007. The property had received 1,000 employee applications each week from mid-July through early October 2008. Prior to its opening, Station Casinos expected some economic difficulty for Aliante Station due to

4374-422: The project. After weeks of negotiations, Station Casinos and Summerlin residents compromised on a 198-foot (60 m) hotel tower and the complete removal of the timeshare buildings. The redesigned project was unanimously approved by the Clark County Commission in January 2004, with approval to build up to 1,000 rooms. Station Casinos stated that the redesign would increase the project's $ 400 million cost, with

4455-454: The property. The project was announced in July 2002 and is named after the nearby Red Rock Canyon National Conservation Area . 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. 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

4536-422: The quality of life for Summerlin residents and that it would destroy the views of Red Rock Canyon. Opponents also believed that the 1,500-room count was too much for the nearby residential area. Because of the opposition, Station Casinos delayed its request for approval from the Clark County Planning Commission, giving the company time to pitch the project to opponents. Station Casinos, which had been surprised by

4617-433: The remainder. Sales were expected to begin in spring 2006. By March 2006, Station Casinos was planning two 227-foot condominium towers with a total of 392 units. According to a Clark County commissioner, the previously approved 198-foot limit only applied to the adjacent hotel. Despite the increased height, the towers would be built on land that was 29 feet lower in elevation from the hotel tower, making them no taller than

4698-455: The resort during 2005. A survey prior to the opening showed only minimal neighborhood opposition to the resort. Selected audiences were allowed to tour the resort in March and April 2006, prior to its opening. Employees underwent six weeks of pre-opening training to ensure preparedness for the public opening. Restaurants were operated and each hotel room was occupied three different times during

4779-455: The resort for the 2008 film 21 . In July 2005, Station Casinos announced that it was partnering with developers Stephen Cloobeck and Steven Molasky to build two condominium high-rise towers on 8 acres (3.2 ha) of property next to the Red Rock Resort. The towers would be under 190 feet and would include 300 units each for a total of 600. They would be 80 percent owned by Station Casinos, while Cloobeck Molasky Partners I LLC would own

4860-620: The resort in 2007. The Yard House opened at the resort in 2010, and its primary entrance was accessible from the resort's parking lot, while a second entrance was located inside the casino. Lucille's Smokehouse opened at the resort in 2013, and it also provided easy customer access similar to the Yard House restaurant. In February 2014, the resort's Hachi restaurant was closed as part of a routine refreshing of dining options. The resort's LBS: A Burger Joint restaurant also closed that month, after five years of operations. The resort's 2014 expansion

4941-435: The resort opened, it featured Rande Gerber 's 8,500 sq ft (790 m ) Cherry Nightclub, which included a seven-foot sculpture of red cherries created by Takashi Murakami . The resort also included the Rocks Lounge, which offered singing entertainment; the 250-seat Lucky Bar, which offered nightly DJ music; and the pool area's Sand Bar, which offered concert acts. In 2007, Station Casinos took over operations at

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5022-423: The resort was expected to cost $ 475 million. On March 15, 2005, Station Casinos announced plans to begin expanding the Red Rock Station before its opening, including an increase in hotel rooms from 400 to 850. The expansion was scheduled to begin in late 2005, with completion expected by late 2006. The expansion and rising construction costs increased the project's estimated cost to $ 800 million, which would make it

5103-423: The resort's Italian restaurant. Portions of the show were filmed at the resort. By August 2008, the resort had been the filming location for segments of The Late Late Show with Craig Ferguson and episodes of The Real Housewives of Orange County , as well as Rock of Love with Bret Michaels . Rapper Nelly 's music video for " Body on Me " was also shot at the resort in 2008. Some scenes were also shot at

5184-458: The resort's new owner. Boyd Gaming's $ 380 million purchase was completed in September 2016. As of 2017, the casino is 125,000 sq ft (11,600 m). Holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose

5265-615: The resort's outdoor amphitheater had grown to nearly 10,000 seats, becoming one of the largest concert venues in Las Vegas. The Red Rock Amphitheater hosted its final concert in October 2012. In 2013, the Academy of Country Music named Red Rock Resort as the Casino of the Year for hosting many country singers during 2012. In March 2014, the resort announced a concert series planned for the summer, to be held at

5346-404: The six-week period. A total of 4,000 people spent time at the resort during the final week before the public opening, and a total of 100,000 meals had been served during the six-week pre-opening period. Station Casinos hosted 3,800 special guests at the resort on the night of April 18, 2006, prior to the public unveiling at midnight. Former Nevada governor and U.S. senator Richard Bryan attended

5427-631: The space that would bring in more profits. It was ultimately converted into event space, and the Cherry Pool reopened in May 2010, as the Red Rock Cabana Club, a 275-person pool area separate from the main pool where guests could have pool parties. In May 2011, work was underway on a temporary, outdoor amphitheater near the resort's pool. The 8,800-seat venue would host six concerts that year, from June to October, before being dismantled. During 2012,

5508-540: The stock of Company B, Company A will not pay taxes on dividends paid by Company B to its stockholders, as the payment of dividends from B to A is essentially transferring cash within a single enterprise. Any other shareholders of Company B will pay the usual taxes on dividends, as they are legitimate and ordinary dividends to these shareholders. Sometimes, a company intended to be a pure holding company identifies itself as such by adding "Holding" or "Holdings" to its name. The parent company–subsidiary company relationship

5589-511: The term parent holding company . Holding companies can be subsidiaries in a tiered structure . Holding companies are also created to hold assets such as intellectual property or trade secrets , that are protected from the operating company. That creates a smaller risk when it comes to litigation . In the United States, 80% of stock, in voting and value, must be owned before tax consolidation benefits such as tax-free dividends can be claimed. That is, if Company A owns 80% or more of

5670-413: The time, measuring 80,000 sq ft (7,400 m), with 2,554 slot machines and 40 table games. The casino also included a 170-seat sportsbook , with large television monitors spanning a total of 96 feet. Approximately 1,500 of the slot machines were penny games, and the resort also offered inexpensive restaurant options to appeal to Station Casinos' customer base while attracting new customers during

5751-427: The tower, and opponents worked to gather support in an effort to derail the project. Opposition groups sent recorded phone messages to more than 200,000 southern Nevada residents urging against the project, and rallies supporting and opposing the project were held in November 2003. By December 2003, a county voice mailbox had received 591 recorded messages since September, with 494 of the messages from opponents of

5832-426: The views of Red Rock Canyon. A compromise was ultimately reached in January 2004, reducing the hotel tower to 198 feet while removing the timeshare aspect entirely. 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. Red Rock Resort was Station Casinos' most expensive property, built at a cost of $ 925 million, including

5913-400: The weak economy. The resort was located within a three-mile radius of more than 100,000 residents. The resort featured a food court as well as six restaurants, including Station Casinos' Feast Buffet. Also included was Camacho's Cantina, a Mexican restaurant with more than 100 different types of tequila , as well as a chandelier made out of 2,700 empty tequila bottles. Aliante Station featured

5994-430: The year after the management change, 200 additional employees were hired, for a total of 860. The casino's 1,800 slot machines were also updated, and a bingo room was added as well. Hotel renovations also took place. By February 2014, hotel occupancy had increased to an average of 90 percent, in comparison to 40 percent in late 2012. In April 2016, Boyd Gaming announced a deal to purchase ALST Casino Holdco LLC and become

6075-455: Was announced that Scott Conant would open a new restaurant, Masso Osteria, in its place with a scheduled opening in February 2018. Lotus of Siam, a local Thai restaurant, opened a new location at the resort in 2022. The 8,000 sq ft (740 m ) restaurant cost more than $ 5 million to build. In 2023, Lotus of Siam also opened an oyster bar and Greek restaurant at the resort. When

6156-509: Was expected to take approximately 15 months, with a cost of more than $ 300 million. It would be Station Casinos' largest and most expensive resort, and would compete against the nearby Suncoast and Rampart casinos. The site was chosen over other locations that Station Casinos owned – also along the beltway in the west Las Vegas Valley – because of its location within the planned village of Summerlin Centre . Station Casinos tentatively referred to

6237-453: Was inspired by two restaurants at the resort, the Yard House and Lucille's Smokehouse , which both used the same concept of easy access. There were also plans to renovate the 25,000 sq ft (2,300 m ) spa, as well as 26 hotel suites. By the time of the announced expansion, the hotel lobby and the resort's Lucky Bar had already been remodeled. In August 2015, the sportsbook removed

6318-504: Was necessary to ensure that guests would have unobstructed views of the Las Vegas Strip in the event that previously approved office towers would be built nearby the project. In subsequent negotiations, Station Casinos was willing to decrease the 300-foot tower to 268 feet (82 m), while opponents would support nothing above 130 feet (40 m). Station Casinos agreed to reduce its timeshare towers to 100 feet, removing 250 rooms from

6399-552: Was the reason for the closings. Planned as part of the new restaurant row was the Hearthstone Kitchen & Cellar, to be operated by The Light Group in the 5,400 sq ft (500 m ) space formerly occupied by Hachi. Also planned was the renovation of T-Bones Chophouse. Salute, a 4,000 sq ft (370 m ) Italian restaurant, opened in the restaurant row in September 2015. It closed in December 2017, when it

6480-476: Was then managed by Aliante Gaming, and a 24-hour restaurant, The Farm 24/7, was added that month. A total of $ 2.8 million was spent on rebranding and refurbishing parts of the resort; a second-floor spa area was among the improvements. Following the end of Station Casinos' involvement in the property, three restaurants were rebranded and reopened in January 2013: The Salted Lime, Bistro 57, and the Medley Buffet. In

6561-476: Was timed to derail Culinary's efforts, and ordered the company to negotiate a contract for Red Rock workers. Station appealed the decision, but it was upheld. A judge for the National Labor Relations Board also ruled in April 2022 that the resort must negotiate with the union. However, contract discussions subsequently stalled. The casino is 118,308 sq ft (10,991.2 m ), while

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