Will Grandissimo Be The New Name Of Las Vegas Club?

Las Vegas Club Casino Downtown Las Vegas
Las Vegas Club

Grandissimo was the name of a hotel and casino that Jay Sarno, founder of Caesars Palace and Circus Circus, was thinking about when he retired. The dream never came to fruition and was over after he passed away in 1984.

Sarno was an interesting man and you can learn more about him in the book Grandissimo: The First Emperor of Las Vegas: How Jay Sarno Won a Casino Empire, Lost It, and Inspired Modern Las Vegas.

In September Gambling Invest uncovered the following information about the name Grandissimo on the web:

Gambling Invest’s domain monitoring service uncovered that at the end of July, The D Las Vegas casino became the new owner of several “grandissimo” domains, including grandissimo.net, grandissimovegas.com and grandissimolv.com.

…The whois details of the three domain names were updated in July this year when The D Las Vegas casino replaced Dickinson Wright as the listed owners, but Gambling Invest believes that the Michigan law firm had registered the domains on behalf of Derek and Greg Stevens, the Detroit brothers who control The D and that in January 2014, Dickinson Wright helped obtain a trademark for Grandissimo in relation to restaurant, hotel and entertainment services.

If I remember correctly (tough before coffee) Derek Stevens purchased alternate URL names before revealing that Fitzgerald’s would be renamed The D.

These URL purchases don’t mean that Grandissimo will be the new name of Las Vegas Club but it’s entirely possible.

Expect Stevens to address the future of the Las Vegas Club on the next episode of the Vegas Gang podcast which will be recorded live at The D this weekend with Grandissimo author David Schwartz.

Speculation: Downtown Grand Won’t Be Sold Until 2016

Downtown Grand at Night
Downtown Grand at Night

If you follow Vegas news then you’ve probably seen speculation that Downtown Grand is for sale (on Vital Vegas) or possibly sold (Travel Zork).

I’m told that Downtown Grand is on the market but there isn’t a buyer in sight.

My semi-educated view on the real estate market in Vegas is that there won’t be a buyer for Downtown Grand until after Derek Stevens announces his plans for the future of Las Vegas Club (see Las Vegas Club news at Travel Vegas and info on its sports theme at Covers).

The former Las Vegas Club has 400 hotel rooms that can be renovated and rented once the property is re-opened. It’s unlikely that an investor would make an offer on Downtown Grand until they know what Derek Stevens plans to do with those hotel rooms.

Added hotel room supply could (should) drive down hotel room prices in Downtown Vegas. If nothing else added hotel room supply should keep hotel room prices low in Downtown Vegas.

Downtown Grand has 634 hotel rooms between its two towers. Prices for those rooms will be effected if Stevens’ plan is to open those extra 400 rooms at Las Vegas Club. The revenue potential of those 634 rooms should help dictate a price for Downtown Grand.

Derek Stevens says he should have plans set for the former Las Vegas Club by VIMPF which is October 16-18. Unless overall room capacity in the area doesn’t matter to the buyer of Downtown Grand I don’t see anyone making a purchase before the year is end – especially if Downtown Grand is trying to position its sales price as if they’re a luxury property.

Photo: Vegas Photo Blog

Speculation Games Featuring Cosmopolitan, The D, Golden Gate, LVH, Palms, Resorts World And Riviera

Riviera Las Vegas
Riviera

Speculating on the future of Vegas is fun. Instead of full-blown posts about specific subjects I think it’s more fun to be short and concise. Here’s my take on two potential moves that would shake things up on the Vegas Strip.

Topic: Now that Cosmopolitan has been sold which Vegas casino will be the next to go?  LVH, Riviera and Caesars Entertainment have been rumored to have casinos on the market for a while. Caesars may have multiple properties on the market that they need to sell so they can reduce debt and avoid filing for bankruptcy

Speculation: My guess is that Caesars will be the first to move. Their current fire sale and shell game seems like a brighter fire than the other two possibilities.

If there’s a dark horse in this race it could be Derek Stevens moving quickly to add the Riviera to his portfolio of The D and Golden Gate. On a personal note, I’d love this. The D and Golden Gate are two of my favorite places to roll dice.

Update: On a detail specific note, you may remember that Stevens owns a small percentage of Riviera. (H/T Chris Robbins on Facebook for the reminder that some people may not know this)

Palms Casino Hotel Towers
Palms

Topic: What is Dan Lee’s next step now that he’s resigned as CEO of Palms after less than a year on the job?

Speculation: I’m going to speculate that Dan Lee’s next job will be something big. If he has a non-compete clause with Palms or just needs time away from work he might look for a major role with Genting as they open Resorts World Las Vegas.

If that’s too far ahead perhaps a move to another independently operated casino in Vegas might make sense.The Cosmopolitan might make sense as they’ll likely add new leadership when Blackstone takes over operations.

If you’re not familiar with Dan Lee, Vegas Tripping had a really detailed post when he was named CEO of Palms last year.

Photo: Riviera – Vegas Chatter, Palms – Vegas.com.