Treasure Island plans to build mall on Las Vegas Strip

I found this


Treasure Island, wants to reduce the size of its Sirens of TI lagoon to make room for a 46,000-square-foot shopping center on the Las Vegas Strip.

 

I just don't know about this town anymore. It's getting further and further away from why I fell in love with it in the first place. Hey TI, I have a great idea..How about a 46,000 sq. ft. casino expansion filled with good rules blackjack tables with decent minimums and decks, giant banks of vp machines w/good pay tables, single zero roulette, funner craps promos, better paying slots etc..That last fucking thing I want to do in a casino, or on a gambling vacation is go to a mall, and pay outrageous jacked up prices for shit made in China or Pakistan or India - just to say "I got this in Vegas." There isn't a state in the union that doesn't have a hoity toity high end shopping mall. These casino corporations/execs have better revenue potential staring them in the face year after year if they would just improve their gaming - for the players that is. If I knew they had half the stuff I mentioned as far as gaming was concerned, hell, I'd be staying at TI every visit - and I'm a downtown don't like kids kind of guy.

 

This just seems like a phenomenally bad idea from location standpoint. They are connected by a walkway to the Fashion Show Mall! I guess they see people walking across the bridge and figure they are missing out. With the new Bazaar shops going in at Ballys, the Linq, and all the existing shopping outlets...why would TI think this is a profitable venture? I hope the council tells them NO!

Well, I guess I should be positive....at least its not another mega-nightclub.

 

More casino because we nevr have enough and no more shopping because you can only do so much or like me, nome!
Haven't been to TI in a couple of years and that doesn't make me want to.

 

I understand their logic. Think about it.

Ladies control the majority of the money in just about every relationship yet vegas does very little to cater to them. Outside of some shopping and spas what do they really get for their buck?

All the casinos have pretty girls bringing drinks, dancing, scantily clad which is great for the men but doesnt really hit the "sin city" theme for the ladies.

The more money people spend in vegas and the more draw there is, the better off we all will be. When casinos are flush they pass the comps and discounts on to us.

Would another casino full of 20 something cw's and dealers really be that big of a draw?

From my perspective i do really want more stores i am not going to and would love to see naked cws and dealers but dont think thats happening anytime soon.

What we will see soon is tables or sections of casinos catering more to women with chippendale type dealers and cw's. thats a money maker there.

 

you really want to see either of these guys naked

 

I am not surprised. The property in front of TI is useless to the resort money wise. The free show at Treasure Island BEFORE the god awful "Sirens" used to draw people into the casino, but the last few years haven't been as kind.
The Strip is changing. That's why Paris has added "the Sugar Factory", that's why Monte Carlo/NYNY is adding outdoor shopping, same with Bally's, that's why Bill's is now Ganesvoort. There is nothing inside TI that is competitive with other properties. The TI is just like another casino, like Bally's. So they have to make money using other means. MiLife needs to utilize the TI property by making use of the "lake" outside" of TI to bring people "in".
I was in Vegas last week. I went to the FSM for lunch a few days during the week. There were hardly any people going INTO TI, just bypassing it until the Fashion Show Mall. Same with my return. If you want people on the property in the daytime as well at night time, you need something that makes it worthwhile to inhabit the property. Having a shopping "Mall' outside of TI makes sense and probably will entice people away from FSM and more importantly bring people back INTO the casino like it once was in the 90's.
I personally despise what they have done to Monte Carlo and Paris.........taking the fountains out and replacing them with "sugar" and "spice".........but i understand where they're coming from. The Mirage (less so since S&R)/Caesars/Bellagio/Venetian/Paris/PH/MGM/Wynn/Mandalay Bay don't need visitors to spend money, they will spend money at those resorts regardless because of what they offer (like dining, free attractions, shows, etc), but resorts like Bally's, NNY/Monte Carlo, IP/Quad, Flamingo, Harrah's, Bill's, and TI, need people to spend money whichever way they can. So they are adding/will add shopping, dining, attractions for outdoor/indoor use to make money since gambling revenues are down.
Las Vegas has changed these last few years, and the young crowd is a large part of keeping pace with the times. I was at Caesars last week, i saw huge amounts of people young, old, and middle aged, black, white hispanic, gay, straight, enjoying what a resort can offer......pools, clubs, shows, dining, and yes, gambling.
I was right in the middle of the Sports Book, where people were watching the games, enjoying the Pussycat Dolls Lounge, and next to me were the lines for entering Pure nightclub. There were finely dressed hookers, elders with walkers, guys and gals looking to make a connection, people from all corners of the world speaking in languages i have never known that existed.......that's what Vegas is all about. That's what makes me keep coming back since Dan Tanna caused havoc in Vega$...........variety is the spice of life, and keeping up to date with the times while still embracing the past is what will keep Vegas floating forever........well, at least until the escalators at Bally's get fixed.....

 

Sugar Factory, Monte Carlo/NYNY is adding outdoor shopping, same with Bally's is the same as a 19.5 acres of shopping. Fashion mall is right there already, miracle mile shops on the other end and CP forum shops and resturants. I just don't see it as a draw but a hangout and not being in the casino but he owns it and can do as he likes. God knows he knows more about it then me.

BTW, yes vegas is changing but it isn't shopping or selling cars. Hotels, nightlife, pool parties and restaurants are more like it.

 

The strip is diversifying. They want more revenue streams. I can't blame them and it does not phase me one bit. The majority of the visitors are not just in Vegas to gamble. They want the whole experience.

 

The "MAJORITY" of the visitors are not just in Vegas to gamble? Really, the majority?

 

Sad but trending and accurate.

Strip Casino Revenue 1999: 48% Gambling; 52% Rooms, Food, Drinks, Shows, Shops, etc..
Strip Casino Revenue 2012: 36% Gambling; 64% Rooms, Food, Drinks, Shows, Shops, etc..

The number of gaming positions (-15% machines + -14% tables) have decreased during this period, despite the fact there has been a substantial increase in the number of visitors / available rooms. The number of blackjack tables has decreased 26% (from 3,682 to 2,739) - Bringing Down the House indeed.

Former loss leaders like food (upscale dining vs. $2.99 Buffet & $.75 1/4 lb Hot Dog) and beverage (clubs, bars vs. comped drinks on the floor) are now profit centers. Comped rooms have been replaced by paid for rooms (rack + resort fee). The couple staying comped and blowing $1,000 gambling over the weekend at the tables/machines has been replaced with the couple paying for their room and blowing $1,000 over the weekend on their room, dining and drinks at the bar, pool or club and maybe a one-time $20 in a machine or $40 table buy-in "cause we're in Vegas, Baby".

New properties have built smaller casinos (see Cosmo), and the major conglomerates have recently dedicated billions of dollars to build non casino offerings such as Linq, City Center Shops, the NYNY/MC "Central Park", Bally's Bazaar, TI's new mall, even though there were shops every where a few years ago (Wynn, V/P, FSM, Forum Shops, PHo Shops, Vegas Outlets Downtown & South Strip).

Keep building the stores and let the folks shop, clearing up space in the casino.

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Good summary, thanks! But generally, the Vegas strip is definitely more of a party center than anything now. Last couple of trips, I have internally chuckled at the drink prices they were charging at Gustav's Bar in Paris (anywhere from $7 to $11/ea) while I got comped the same drinks while min-betting. As long as you're tipping them, they won't generally give you crap about things like min-betting. Probably because they know they are making boatloads on those that insist on paying for their drinks to "save" on gambling.

 

Good article, quick read along these same lines...

http://www.reviewjournal.com/columns-blogs/inside-gaming/rant-adelson-surprises-murren

 

Guess I'm wrong but I do always say Vegas is smart to change with the generations. Guess the new money generations are more aboyt everything Vegas but gaming. Sleep late. Hang at the pool. Eat. Party at a club and drink. An hour at the tables and up to the rooms.

 

You guys are severely overestimating this development. It's 46,000sf of retail space, and if they have a drugstore (most likely CVS) they're going to eat up 15-20% of that. This isn't going to be a destination for shoppers, or be competing with FSM. It's likely to be the drugstore, and about 10-12 other shops, most of which will be ordinary retailers and restaurants, and t-shirt/souvenir type shops. For reference, your average Walmart is about 130,000sf, so this development is going to be about 1/3 of a Walmart.

*There is some conflicting info in that report, as 46,000sf is referenced twice, but it's mentioned that it will be three stories spread across 19.5 acres? That doesn't mesh.

 

I love straight casinos without much shopping or other stuff. I am fine with a casino. But you have to look at it from the TI's side.

What do they want? Spend money. No matter how they get you in, it's all about you being in that property and/or casino and spend money.

So yeah, being a casino makes money. But how do you attract a shitton of people? Sure, by offering different things. That's why you have places for dining, shopping, spa, and all this other stuff.

Come on, how many of us went to a casino hotel for different reason and ended up playing the slots ot tables there? EVERYONE! That means, if they offer more different things, they will have more people with different kind of tastes and wishes spending money.

I do not think that a shopping area is needed, especially on that place. But i also do not mind. When i step inside a casino and i am a little bit hungy i really appreciate having a food court or something. When i step inside a casino and there are shops where you can send all the people that are not interested in gaming and it gives you more realxed gambling time, why not? I am totally okay with it, i don't mind having or not having it there. pros and cons.

 

As someone who goes to Vegas for business (a trade show) every couple of years, the convention business is pretty big in Vegas - those people (me, when I'm lucky) are working a LOT and overall not doing a ton of gambling (or shopping for that matter) but we are paying for rooms and eating, so.....

And personally, Vegas has never been just about gambling for me. I am not a gambler. I do some gambling each trip, but it has never been the focus. (first trip was 1999 and we've gone about once a year since then - more in some years, skipping years recently)

 

I tend to look at something new in terms of what it might do for me or to me.

Not much and nothing.

TI probably feels stuck with the Sirens as the nonproductive embodiment of its "theme". Those who seem to like it most are small children and pickpockets. So instead of scrapping it, they replace some of it with retail. No big deal.

 

about an acre in size, acre is 43,500 sq ft.

Adding more shopping makes no sense to me, go walk around the existing stores and most aren't exactly bustling. But I'd imagine someone crunched a bunch of numbers and it made sense to them.

 

If they put back the ship battle then I'd go there but shopping is no reason for me to go.