Are you worried about a Stevens monopoly in Downtown?

I really believe the MGM and Caesars monopoly on the Strip has taken the fun out of that part of town.
I really wish something could be done about regulating Downtown so this will not happen there. I have been going to Vegas as a gambler for almost 20 years and I have watched the Strip die during this time. I don't want it to happen Downtown.

 

No, i was more worried about the zappos monopoly there.

Derrick knows what people want and makes the places fun and affordable.

 

It will (probably) never happen. The Four Queens/Binion and Boyd are too strong to fade out.

OTOH, Derrick Stevens and company have done wonders for downtown.

 

Not much you can do.

Stevens has been buying places that were failing and making them successful and sustainable. He has managed to buy a lot in part because few people are able and interested in getting in this game.

I would not worry about a downtown monopoly unless/until Stevens takes on the Nugget or the Boyd properties, and that is pretty unlikely.

And forcing different owners does you no good if the owners you can scrounge up suck. You'll have more chances of boarded up properties because a failed place can't see, and more turnover as new people who don't know what they are doing give it a try and screw it up.

 

Worried? Yes and no. Boyd already has a "monopoly" if you count their 3 downtown casinos so Stevens is just copying Boyd in creating 3 casinos in the area (if you count the lvc superblock as one big casino).

I say yes because I am not a fan of the Steven's casinos. I absolutely hate the D, too loud music (yes I'm a blue hair and don't like the loud stuff) and I hate resort fees. I don't mind GG but again don't like the loud music and resort fees. I'm afraid that the new replacement LVC casino will be just like the D and GG so I probably won't visit those places very much.

I never really visited glitter gulch in years and didn't frequent mermaids so those aren't places that I will miss anyway but still, those places make up the "ambiance" of downtown. I dislike the "stripification" of downtown so I wished that the 4queens or Boyd had taken over the LVC instead.

 

I am concerned. But I will wait and see before I judge. He cut out the competition for his D dog. I enjoyed the Nathan do at Mermaids.

 

I am not worried about monopoly but more concerned that the casinos are the style I do not care for. Dancing girls do little for me.
I rather look at my wife , plus tattoos are a turn off for this 50 plus guy. I enjoy casinos like Boyd's and station casinos more. I want
quality games and nice comps and nice conversations. Loud music that makes it hard to talk are not my thing. I use to play some at
LVC but probably will be off my list when converted to Steven's style. So with Stevens ownership it just limits the number
of casinos downtown I will visit now.

But better than empty spots for sure

 

While I do agree that the would be more fun with more operators, I oppose any government intervention and support a true free market economy.

 

They've got a LONG way to go before they achieve anything resembling a monopoly. Even with La Bayou and Mermaids gone there are still 7 different casino operators downtown by my count.

This latest move probably still wouldn't put them on par with Boyd in terms of downtown room, table, or machine count.

Besides, they've done a good job with everything they've touched and I at least get the impression that Derek is personally invested in the "idea" of downtown Las Vegas. If I recall correctly, part of his motivation to buy that block in the first place was to thwart a CVS from moving in.

 

Derek has an excellent track record so far....so I choose to believe he will do something great with these properties too.

 

Derek is fantastic, period.

 

I would only be afraid if he went after 4 Queens/Binions.

 

He is the only casino owner you can actually party with!!

 

I'm probably in the minority as I'm still (for a while yet) in my 40's, and don't really care for The D. Having said this, Derek, and his brother, have been a net positive for downtown in my opinion. I had first met Derek briefly in Florida, and my read is that he is as serious of a casino operator, and as committed to downtown Las Vegas as anyone has been in a while.

Downtown's appeal to me is I have always thought the better restaurants were more classy, and I'd throw in Golden Steer, even though not even close to technically downtown. Same with some of the shows downtown. Gordie Brown as an example is better than shows that cost 3 times as much on the strip. I can't tell you how many times on the strip I see people acting like big shots. I'm not a big shot, so why is it I tip the check in person, the casino host, the valet, and the dealers more than the alleged big shots? I just don't care for that entire vibe, and I don't get that vibe hardly ever when I'm downtown.

Is downtown going to get more expensive as it gets nicer? As certain as water flowing down hill. Will this price it out of some people's reach? Probably, and unfortunately. I don't anticipate things getting too out of hard though. It will always have a place for smaller gamblers. Always. Why? The largest places on the strip are all living on the edge. Almost every single one has a history of reorganization. Less capital investment downtown. In a downturn of the economy, these places will be more nimble, and price points will equalize as market forces work. And market forces work in the casino business for obvious reasons. It's driven on hugely discretionary income, and there is debt to service. Some revenue is better than no revenue. Similar to what has happened with certain oil producers operating at a loss, rather than shuttering completely.

There is a place for Derek Stevens. There is a place for Binions. To each their own. Me? I sure wish that coffee shop was still open in the basement of Binions. That's me. Most my age want dancing girls, dancing bartenders and dance music. I like to walk through there. I'll even play there once in awhile. But other people like to play and stay there. And more people downtown is a positive.

I also met for about 2 minutes the gentleman, whose name I can't recall, that owns El Cortez. He's another one. Seems very, very invested in downtown.

The Golden Nugget also belongs.

Anything that makes downtown better I like. It's already cleaned up. It's already a very diverse group of visitors and an extremely eclectic place. It has always had some quality restaurants and shows. More of this at every price level is better. The D doesn't subtract from the 4Q, or Binions, or El Cortez, it adds to it.

I stayed on the strip Super Bowl weekend. A group of us always do. I played the $25 craps table at about $100 a roll. I hardly got rated. I just don't have time for that kind of stuff any longer. Actually, it's not even fun for me at that level. No thanks. Anything that makes downtown thrive is welcome in my opinion.

Personally, I'm in the process of trying to settle on one place downtown. Quiet place to stay. A place that appreciates my level of play. And walking distance to loud and partying, if I want to do that (which is doubtful). Walking distance right back to quiet when I'm done. Hugo's Cellar. Oscars. Greasy bacon and eggs. A cheap piece of pizza. Straight blade shave from Ernesto at Elco. If Derek builds another louder, more "hip" casino, I lose none of what I describe. It makes each and every place down there more unique, and that's a win for everyone who either stays downtown, or plays downtown.

 

I don't get why some people are complaining about Derek taking over these properties. I guess people don't like change. They were two crappy slot joints and an even worse strip club. He turns dumps into rather nice places. His odds are still good. He seems to truly care about downtown Las Vegas. He has helped clean up downtown from what I have seen over the years. People should be excited about what he will do with these places. I know I am. He is making downtown much more respectable and a great place to stay, play, and eat. Isn't that what we all really want?

 

I agree Harley. My only problem, and it's not Stevens' fault at all, is that it will take LVC a long time to be rebooted and even though Mermaids and LaBayou were only slot joints they still added some ambiance to the Fremont scene. I could care less about the strip club; I never went there but I've heard and read horror stories, here on VMB, about that place. However, I really think in the end, maybe five years, the wait will be worth it. Hopefully within the next year he will unveil his plans for that end of Fremont St.

 

Once at El Cortez Jackie Gaughan walked up to me and introduced himself, shook my hand and asked me if I was having a good time. The only other casino owner to do that was Derek Stevens. It's a simple thing to do but it means a lot. Downtown won't face the issues that the monopoly of the strip has given us even if it's just Boyd and Stevens left.

 

Not really worried about a Stevens takeover, he is helping to revitalize parts of downtown. Not really going to miss the recent closing of the three. Hoping tho seeing as how I really enjoy gourmet eating that he recreates Mermaids snack bar somewhere.

 

I wouldn't want to see them own any more casinos downtown. Overall, they've been a net positive. But I think they lost the old school vibe in the Golden Gate. And I'm not impressed with what has been done to VP paytables at the D. All the good stuff has been gutted except for a few plays. I can't imagine the new 18 Fremont will be any different. Not keen on the headache-machine soundtrack in his places either.

 

The invisible hand of competition is what makes the "free Enterprise system work"!!!! So when you have less competition you lose the benefits of the system.