DRAFT Table of Contents
3 4 6 Executive Summary Regional Economic Profile Local Projects 7 8 9 Station Casinos and Local Casino Developments Site Profile the Las Vegas Market 11 12 13 Demographic Summary Household Wealth Development Activity Map 14 15 16 About Durango Station The Developer The Manager
Station Casinos 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 702.495.3000 | 1505 S. PAVILION CENTER DR., LAS VEGAS, NEVADA 89135 DRAFT Executive Summary Population Growth between FOUNDED IN 1976, Station Casinos, Inc. (“Station”) is the premier provider of locals-oriented gaming and entertainment services. We currently own and 2017 and 2022 Durango Station’s operate ten major hotel casinos and seven smaller gaming operations in the primary trade area Las Vegas metropolitan area. In addition, we own a 50-percent interest in, is projected to see and manage, three properties in Henderson, Nevada and operate the Gun substantial Lake Casino near Grand Rapids, Michigan and Graton Resort & Casino near population Santa Rosa, California. growth during the next five years
The Station brand has become synonymous with value, convenience, quality, excitement and entertainment. In Las Vegas, a majority of adult households are active members of our loyalty program – the Boarding Pass. This loyalty has been earned by surpassing the expectations of our customers at every turn. Proprietary gaming products like a monthly kiosk game have elevated the gaming experience, while our properties consistently rank among the most desirable in terms of restaurants, live entertainment, movie theaters and bowling.
Las Vegas has undoubtedly provided a fertile market for our company. During the past 25 years, the region has ranked at or near the nation’s highest in terms of population, employment and income growth. Future developments across the valley will not only provide further growth, but also promise a more stable economic base and a continuing stream of investment well into the future.
Publicly owned land and resource limitations within the Las Vegas valley limit where growth can occur. A key emerging area is the valley’s southwest region – the location of Durango Station. This fast-growing corridor is not only expected to see higher- than-average population and employment Population Increase growth, but the barriers to entry for competitive gaming properties are formidable and legislatively 53 0 imposed. This combination of a favorable demographic climate and limited competitors will position 0 150 Durango Station for success well into the future. 150 250 250 400 400 1,000 1,000 A
Station Casinos 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 702.495.3000 | 1505 S. PAVILION CENTER DR., LAS VEGAS, NEVADA 89135 DRAFT Regional Economic Profile
SOUTHERN NEVADA’S economic development has been nothing short of remarkable during the past 25 years. The region’s population has increased from 816,085 to 2.2 million since 1991, or at Las Vegas’ population has grown at roughly an average annual rate of 3.8 percent. This translates into roughly 6.2 new people every hour of 6.2 new people every hour of every day for 25 years. every day for 25 years. Although slower (conservative) rates of population expansion are projected going forward, southern Nevada’s population is expected to reach 2.5 million in the next decade.
Las Vegas’ largest employment sector is leisure and hospitality, accounting for 30.2 percent of the region’s workforce or 284,900 employees. The economic recovery in the valley has continued, and new large projects are beginning in the valley in 2017, such as Genting’s Resorts World Las Vegas and Wynn Paradise Park. Clark County Population Taxable retail spending sourced to southern Nevada’s 2.2 million residents and 46.1 million annual Historical and Projected visitors totaled $39.9 billion in twelve months through November 2016. Aggregate spending C a Co nt o ation increased at an average annual rate of 3.7 percent during the past 15 years.
Simply stated, southern Nevada has been the most prolific economy of its size during the past 3.0 2.53 2.50 2.47 2.44 2.41 25 years. The fundamentals giving rise to this growth remain sound; and, while not immune to 2.38 2.35
2.5 2.29 2.32 2.2 2.23 2.21 2.12 2.10 2.0
economic cycles, the region is expected to outpace national and regional growth averages in the 2.01 1.97 1.9 1.93 1.90 2.0 1.85 foreseeable future. 1.5