Kaos Nightclub is officially closing, according to a report from the Las Vegas Review Journal.
On Tuesday, Red Rock reported a net loss of $26.8 million in the third quarter, down $51.9 million from the same period last year. In a statement, they said:
“This afternoon, Red Rock Resorts, Inc. announced the closing of KAOS dayclub and nightclub at the Palms Casino Resort, effective immediately. While Palms has experienced exceptional growth across both the gaming and non-gaming segments of the business, the expense side of the business has been challenging to date, due in large part to the entertainment and fixed cost structure associated with KAOS. Therefore, we have decided to take some time to reassess the programming and use of those venues going forward. In the interim, we intend to use the venues for private meeting space and special events, in addition to everyday resort pool operations.”
It went on to describe the net income loss as primarily due to “one-time charges relating to the termination of certain artist performance agreements and employment arrangements at the Palms, as well as higher depreciation and amortization relating to the Palms redevelopment project.”
The nightclub opened with major residencies from acts like Skrillex and Marshmello earlier this year. It was reported that Marshmello, Skrillex, and many of the other residents exited the nightclub in September.
Photo via Chase Stevens/Las Vegas Review-Journal (@csstevensphoto)
