Bender suggested the price increase implied the investment community viewed the land sale as valued at $300 million.īy Friday, shares closed at $47.30 but fell to $46.59 on Monday. Meanwhile, Red Rock paid $176 million - or $1.4 million per acre - to purchase 126 acres on the southwest corner of Las Vegas Boulevard and Cactus Avenue for a future casino-resort complex.Ī day after the announcement, Red Rock’s stock price got as high as $48.23, 45 cents short of its 52-week high, on the Nasdaq. He noted that Houston billionaire Tilman Fertitta paid $270 million - or $44 million an acre - to acquire 6 acres “in a prime position” on the Strip last year. He used comparisons from recent Strip real estate transactions to come up with a value. JMP Securities gaming analyst Jordan Bender, in a research note last week following the A’s announcement, suggested the sale price was as much as $150 million. The site, just west of Interstate 15 and the Strip, will also include an entertainment district surrounding the stadium with restaurants, shops and other attractions. It’s unclear how much the A’s may be paying the locals casino operator for 49 acres off Tropicana Avenue and Dean Martin Drive for the Major League Baseball team’s 35,000-seat retractable roof ballpark. While the Oakland A’s make plans for a $1.5 billion baseball stadium, Red Rock Resorts is counting its money.