Some time around midnight last night MGM Grand tweeted that somebody had won the $2.4 Million Lion’s Share jackpot that’s been building for 20 years. That tweet has was deleted when I woke up this morning. It used an old picture not showing the winning pull so it didn’t seem legitimate anyway.
Questions were flying on twitter whether or not the Lion’s Share jackpot was actually hit. At 12:24, while at the opening of SLS Las Vegas, the usually reliable Norm Clarke confirmed that a couple from New Hampshire did win the Lion’s Share jackpot.
People would stand in line to play Lion’s Share at all times of the day for their shot at the huge jackpot. There have been rumors that the winners of the jackpot would receive the actual slot machine but here’s no confirmation of that.
If you played Lion’s Share simply because it was an old game, you can head towards the sportsbook and play Sigma Derby. If you’re looking for a game with a big jackpot (but really bad odds) you can head over to a MegaBucks slot machine at any casino.
Update: Looks like the deal is done and only one tower will become timeshares.
LVH has been on the market for a while now with rumblings on who will buy it. Over the past few weeks the rumblings have gotten louder that Westgate, the timeshare company, would be purchasing LVH.
Since the only people reporting this are gossip columnists like Johnny Kats, Norm Clarke and Robin Leach I wouldn’t consider this a done deal just yet. These aren’t traditional reporters as much as they’re gossip gatherers and rumor mongers. This sale could be true but their job is to share rumors, not report facts.
The rumor that the LVH was sold for $150 million is a bit of a surprise on the low side. For reference, the beautiful Cosmopolitan was sold to Blackstone for 10x that amount, $1.7 billion. The comparison isn’t apples to apples just a point of reference. Since these are just rumors there isn’t any real information about the sale.
Westgate is a timeshare company and not a casino operator. Westgate currently operates the timeshare behind the Flamingo. They took a big swing at opening the 2nd tower at Planet Hollywood but the recession killed that after a short run. It’s now called Elara.
Timeshare’s are typically livable apartments with kitchens, dining rooms and living rooms. They’re not outdated hotel rooms with minimal amenities and a casino with a few restaurants. If the idea is to make LVH into 100% timeshare units Westgate might have to close the hotel and combine two hotel rooms to make one giant suite. That’s a lot of work and a lot of money.
This is an interesting move for Westgate. Will they close the casino and hotel and renovate all of the rooms and casino floor? Will they find a partner to operate the casino and a hotel tower? With the connection to the Las Vegas Convention Center will they operate LVH as a traditional hotel only property?
There really are a lot of options for Westgate if this rumor is true.