All 3 properties were banking on Asian high rollers to be their big customers. There aren’t as many Asian high rollers as there used to be. In fact, Calvin Ayre questions if there are any Chinese high rollers around.
Regardless of the fact that gaming revenue accounts for less than half the revenue for Vegas Strip casino-resorts today concerns about high rollers are making it difficult for Resorts World and Alon. Lucky Dragon has a different set of financial concerns. Here’s more info:
This looks bad, but it doesn’t mean these properties won’t have any customers and won’t get built. Here’s a look at the non-Asian high roller customers for the 3 resorts.
Alon is being positioned similarly to Wynn. It’s an international luxury resort with a heavy focus on nightlife. Expect plenty of non-Asian high rollers (see initial plan here).
Resorts World is being positioned as a family resort. High rollers might be their biggest customer financially, but the majority of guests would be “regular people.”
Lucky Dragon is a 100% Chinese focused property. Everything evolves around Chinese culture. The scope of this project is smaller so they might not need as many VIP gamblers. Yes, that’s a reach. (See details on Lucky Dragon at Vegas.buzz)
The future of the north end of the Vegas Strip doesn’t look as bright today as it did just a few months ago. Hopefully these projects are able to move forward but it looks less likely as the Asian gaming market continues its downturn.
Yesterday ground broke on Resorts World Las Vegas. The new multiple hotel and casino complex will open in 2018. We were treated to a slew of new renderings of the property yesterday while the mainstream media was at the groundbreaking ceremony.
You can find even more renderings in the media gallery at the Resorts World Las Vegas website which also just launched. The gallery also includes this snazzy video of the renderings.
The renderings have changed at least once since Resorts World Las Vegas was first announced. Expect more changes as construction gets moving. Sometimes plans are easier to create on a 3D rendering than real life. Regardless of the changes I can’t wait to see what this looks like in 3 years.
Follow Resorts World Las Vegas info directly from the source. In addition to the website they’ve just launched the following social media accounts:
Genting is breaking ground on Resorts World Las Vegas as I type this. The ceremony offered more renderings of what Resorts World Las Vegas will look like. I’m not at the groundbreaking so I’ll be pulling new renderings I find from social media during the ceremony.
When I lived on the east coast I used to take notes of interesting things that happened or I noticed during trips to Atlantic City and Las Vegas. I figured that is do that I would do that again during my recent Vegas vacation. These are just straight notes, so there will be grammar mistakes.
I’ll elaborate on most of these subjects in future writing here and elsewhere. Tweet me or leave a comment if you have any specific questions.
– The D sold out Friday and Saturday.
– Cash or bomb in briefcase?
– The D queen room as big as king room just 2 beds. Not bad. Size.
– AC great
– Andiamo’s best restaurant downtown Vegas.
– When in doubt. The song is Train or Pitbull.
– Flair bar tending.
– El Cortez vodka selection awful. Drink beer.
– Fremont East between El Cortez and FSE full of awful.
– flamingo always crowded.
– Families suck.
– don’t like kids, eat at nice restaurants.
– Mandalay Bay 3:2 BJ. Good vodka.
– Margaritaville casino fun. 6:5 bj.
– Margaritaville restaurant ok.
– Fab room bathroom disgusting. Rotting. Chipping. Peeling.
– Monte Carlo casino = eh. No even money bj. 6:5.
– Andre’s fun.
– I like cognac.
– Bally’s moved poker room.
– Flamingo casino air not consistent. Nasty.
– Mississippi Stud go boom.
– cash travel?
– Blackjack bad.
– video poker eh.
– Traffic everywhere.
– LIFE slot kinda fun.
– new, giant Wizard of Oz slots at V & the D.
– Flamingo sportsbook comfy. Drink tix.
– Carlos n Charlie’s as bad as people say. Loud. Never again.
– Strip traffic sucks. Expect long hauls.
– Gamers v. Gamblers.
– T3 great.
– Flamingo housekeeping awful.
– No more Steve Wynn in cabs.
– VIP better than not. Duh.
– flamingo air a mess.
I find a lot of things in the Vegas media funny. Las Vegas is the #42 television market but plenty of people in the media and marketing departments acts as if Vegas is a top 5 market. When I saw press releases and news stories about the Aria marquee I laughed. It’s a sign. In what major market does mainstream (and non-mainstream) media go nuts over a sign? None.
I’ve seen the Aria marquee a handful of times and just thought it was another sign and nothing really special. It’s just a sign but how I thought about the Aria marquee changed a few weeks ago when I was driving to New York-New York to meet a friend for a drink. I was passing the Aria marquee around dusk and it was almost magical.
The mall across the street on the Harmon Corner has a bright huge sign that’s more annoying than useful or interesting since it’s all advertising. I don’t need or want to see advertising that big. It’s distracting and dangerous. The Cosmopolitan has a pretty cool marquee by the boulevard pool but that’s because the content on it is interesting. Sometimes you’ll see ads for the hotel and other times you can see concerts. The concept is great but the marquee is tiny compared to the Aria marquee. You can fit about 4 marquees from the Cosmo inside of the Aria marquee.
The Aria marquee is huge and juts out onto the strip. When I passed by the Aria marquee it was showing casino chips and other cool video snippets like the astronaut above. There was nothing obscene or overly promotional on the sign. It’s just a cool big sign that’s as obnoxiously large as you’d expect from the Vegas Strip(for better or worse).
The Aria marquee isn’t the dawn of the new Vegas strip but it is a sign (pun intended) that a new strip is coming.
The Aria marquee reminded me about all of this and also reminded me that the way see the strip will change drastically over the next few years. Enjoy the memory of the Vegas strip you grew up with because it will be drastically different by this time next year.
I generally keep this blog to casinos, gaming and travel between Atlantic City and Las Vegas but every now and again I’ll sprinkle in a taste of life I find exploring Vegas. I typically end up in casinos or other toursity spots so this works well. A few weeks ago I was driving around the suburbs drinking coffee on a beautiful Sunday morning when I noticed that formerly barren corners of Las Vegas were beginning to get some action. I thought this was a sign that something was happening but wasn’t sure what to make of it. Yesterday we got this news:
U.S. home prices spiked 10.9 percent in March compared to the same period a year ago, with all 20 cities measured in the most recent Standard & Poor’s/Case-Shiller housing report posting positive year-over-year growth for the third month in a row.
Phoenix has the largest annual increase in annual prices at 22.5 percent, followed by San Francisco with 22.2 percent and Las Vegas with 20.6 percent. Boston annual prices rose 6.7 percent, according to the report.
The increase in housing sales explains the activity I’ve witnessed in my corner of Vegas. The drive on this Sunday morning took me to the edge of civilization and the Red Rock mountains. I imagine that this land, like much of the other land around it, was probably desert just a few years ago before the last Vegas building boom. The road to nowhere on this day shows where the building ended (left side of the street) and where building has ramped up again (right side).
Las Vegas is still new to me since most of my travels end up in casinos and I often end up taking roads to nowhere when I want to clear my head. These are roads where the Las Vegas boom just stops. Roads are unfinished and there partially started construction sites. It’s kind of sad but also kind of cool to look at because it’s something I’ve never seen before.
The road to nowhere above used to just end. There were no machines moving and nothing happening. This Sunday morning they were resting like normal people…err machines but have been working during normal work hours. Looping back you can see that houses are being worked on right now.
The construction out in the Vegas burbs has resumed and that’s a good sign of the Las Vegas economy. The Vegas strip has also begun preparing for an improved economy with construction resuming last year with The Linq and this year with MGM and SLS Vegas construction.
Resorts World Las Vegas was announced to be opening in 2016 earlier today. Genting Group’s press release included some initial renderings of what the property will look like. The casino will be built in phases so the 7 buildings in these renderings probably won’t be finished by opening date. The renderings are different sizes in different browsers so you may have to click the image to see full size. Enjoy the tour. (Click page numbers at bottom of page to see large images or watch the slideshow in the middle of the page)
There are a lot of changes happening on the Las Vegas strip right now. Many people just know the construction as an inconvenience. Most of the major projects happening on the strip right now are Caesars Entertainment casinos, hotels and shopping areas. Here’s the quick breakdown in order of new projects opening.
Out: Imperial Palace (photo flickr/ firstname.lastname@example.org) – Caesars Entertainment does not own the license for the name Imperial Palace and decided not to renew their lease on the name. The property is undergoing a name change to The Quad and being renovated.
In: The Quad – Caesars decided to only renovate the casino and not hotel of The IP/The Q. The good news is you’ll have a new casino. The bad news is you can still get the dirtiest rooms on the strip! Hey, at least they’re cheap. Transformation will be completed by 12/21. Learn more details about The Quad at Vegas Chatter.
Out: O’Shea’s – O’Sheas closed earlier this year and is the biggest closure because of what’s being built in its place, The Linq. I’m happy to see this dump go away, but it was a place for people to go and gamble and drink for cheap. It had a place on the strip.
In: The Linq – The Linq is not a casino. Instead it will be a variety of retail outlets, restaurants and bars with a ferris wheel as the anchor to the area. This will be a huge area of the strip that seems as if it will rival CityCenter in size. The Linq’s tenant’s aren’t very exciting but there’s nothing horribly offensive about any of the bars or restaurants. The Linq is scheduled to open December 2013. Vegas Chatter has a lot more information on this huge space causing traffic on the strip.
Out: Bill’s Gambling Hall & Saloon (photo flickr/ anna_jewels) – Bill’s will close in February 2013 and will be gutted but not imploded. In its place a new “boutique” hotel/casino will open focused on serving people more interested in nightclubs than gambling. I’ve never been inside of Bill’s, but people that like cheap drinking and gambling were their customer. Notice the trend here by Caesars?
In: Drai’s (Actual name TBD) – This casino will be completely different by the time renovations are complete in 2014. From all accounts it seems as if this will be geared towards the same people that go to Cosmopolitan for Marquee nightclub. It will be interesting to see how that segment of Vegas visitors develops over the next two years. No photo here since there’s no renderings.
Maybe more: There was talk of Bally’s Grand Bazaar shops being built on the strip earlier this year but I haven’t heard anything recently and there’s no construction happening right now.
I have no memories tied to any of the places closing on the strip so I’m not sad about any of these changes. I look forward to seeing what the strip looks like in 2014.
I haven’t seen a solid opening date for The Linq until earlier this week when Vegas Chatter revealed this image they received from an email.
This just means that we can expect construction on the Las Vegas Strip to continue for most of next year. If the Bally’s Grand Bazaar actually breaks ground this quarter (don’t hold your breath) we can expect even more traffic on the strip. That’s awesome.
The strange thing about The Linq is that it’s this major strip project but nobody seems to know what it is or care. Comments on Vegas Chatter for articles on The Linq are empty unless they’re talking about the ferris wheel. Maybe a handful of Vegas travelers I know on the east coast have a clue about this until they run into traffic on the strip.
Every time I mention The Linq to random people I have to explain that it’s the reason that there’s so much traffic on the strip. Or it’s the thing where O’Sheas used to be. After they say “O’Sheas is gone?” nobody even asks what The Linq will be.
I’m fascinated by The Linq and initially thought that The Linq is a perfect match for the typical Caesars customer. I still think that’s the case, but find it interesting that few people outside of Vegas locals, media and nerds have a clue about something that is, potentially, changing the Vegas Strip so drastically.