Station Casinos Pulls Out of Red Rock Residences High Rise Condo Partnership

For those of you that don't live in the Las Vegas area, Station Casinos practically corners the "locals" market in this town. They've recently opened the Red Rock Resort, and planned to join forces with timeshare developer Stephen Cloobeck and condo builder Steven Molasky to build two high rise condo towers at their Red Rock property.

However, Stations has dissolved the partnership but still plans on moving forward with The Residences at Red Rock on its own, which calls for 600 condo units with a completion date sometime by early 2008. The initial agreement had Stations owning 80% of the joint venture.

Could a lawsuit by the Cloobeck Molasky Group be far behind?

Right now, Stations isn't taking reservations and pricing hasn't been determined yet, but if you'd like to stay up-to-date on the status of this upcoming project, send me your contact information and I'll put you on the interest list for this property. The artist's rendering of the project looks great and if it's going to be anything like the Red Rock Resort, you'll definitely want to check this one out.