1. Welcome to VegasMessageBoard
    It appears you are visiting our community as a guest.
    In order to view full-size images, participate in discussions, vote in polls, etc, you will need to Log in or Register.

MGM Resorts 2013 plans

Discussion in 'Casino Industry & Development' started by FountainFiend, Jan 11, 2013.

Thread Status:
Not open for further replies.
  1. FountainFiend

    FountainFiend Low-Roller

    Joined:
    Mar 16, 2012
    Messages:
    159
    Trips to Las Vegas:
    5
    Hey all,

    Just saw this news article (http://www.vegasinc.com/news/2013/jan/10/riding-high-mgm-resorts-set-devote-some-tlc-its-la/) . I think I knew pretty much everything in it already, except this nugget:

    "But the company’s big-ticket capital expenses in 2013 will be focused on MGM’s properties in Las Vegas and Detroit.

    The company will refurbish rooms at Mandalay Bay, the MGM Grand, Bellagio, Monte Carlo, Circus Circus and the Mirage. MGM’s The Hotel adjacent to Mandalay Bay is being rebranded as a Delano property, and an $80 million restaurant, club and lounge known as Hakkasan is under way at the MGM Grand."

    I assume the MGM Grand is a continuation of the 'Grand Renovation'. Interesting about Mirage if they are considering selling it.
     
    Last edited: Jan 11, 2013
  2. habs0nut

    habs0nut VIP Whale

    Joined:
    Dec 26, 2010
    Messages:
    1,067
    Location:
    Ontario, Canada
    Trips to Las Vegas:
    4
    I still can't get over how much they're spending on Hakkasan.
     
  3. Boone

    Boone Tourist

    Joined:
    Aug 17, 2011
    Messages:
    282
    Trips to Las Vegas:
    15
    Notice - there isn't mention of "improvements" to Excalibur

    They will just implode that place one day and start over.
     
  4. vegas_or_bust

    vegas_or_bust High-Roller

    Joined:
    Mar 4, 2008
    Messages:
    860
    Trips to Las Vegas:
    20
    Seems high, but not when you consider that XS and Marquee are pulling in between $60 and $80 million per year (and they don't even have restaurant income).
     
  5. habs0nut

    habs0nut VIP Whale

    Joined:
    Dec 26, 2010
    Messages:
    1,067
    Location:
    Ontario, Canada
    Trips to Las Vegas:
    4
    True. Plus the place is 75,000 sq ft and 5 levels which I hadn't realized.
     
  6. nostresshere

    nostresshere Mr. Anti Debit Card

    Joined:
    May 4, 2009
    Messages:
    11,145
    Location:
    TN
    Trips to Las Vegas:
    19
    There is always a market for lower end, cheaper properties. Based on the traffic I see there, I would guess they have lots of bookings. Similar to IP - er - make that Quad.
     
  7. gpenguins67

    gpenguins67 High-Roller

    Joined:
    Oct 29, 2012
    Messages:
    722
    Location:
    RI
    Trips to Las Vegas:
    8
    It may not have been advertised as much but Excalibur has done a lot of renovations in the past few years. They redid alot lot of thier rooms and they are actually quite nice for a lower tier hotel. Changed/added restaurants (a couple of which went out of business within a year), and added to the food court.
    I didn't go in there on my last couple trips but as far as I know they havent really done any updates to the public areas (casino, sportbooks, bars, etc). But Excalibur has its market.... Its a cheap hotel, more of a family vibe, and lower end dining options. I don't think they ever had the client base for those ultra lounges and clubs with $1000 table service and $50 covers.
     
  8. Nevyn

    Nevyn VIP Whale

    Joined:
    Apr 13, 2007
    Messages:
    4,199
    Trips to Las Vegas:
    9
    I wouldn't mind if they did but I'd guess that's a long way off.

    After the last round of construction and the gut punch that the timing of it was, I think the major operators have at least temporarily gone off the idea of tearing it down and building the latest and greatest from scratch. It became an arms race of spending for awhile, and it looks to me like they'd much prefer to do smaller renos on properties these days.

    And Excal (along with Circus Circus) fills a bit of a family niche for MGM Resorts.
     
  9. woodsie

    woodsie High-Roller

    Joined:
    Jan 19, 2012
    Messages:
    501
    Trips to Las Vegas:
    10
    I doubt they'll touch it for another 20 years. There are so many other older properties or otherwise undeveloped properties on the strip that will yield new projects first.

    I could be wrong but I expect development to shift back to the north strip before the cycle repeats on the south strip.
     
  10. stackinchips

    stackinchips High-Roller

    Joined:
    Jul 13, 2009
    Messages:
    815
    Trips to Las Vegas:
    9
    With their recent acquisition of a gaming license in Macau, I doubt you'll see any redevelopment of their Las Vegas properties any time soon.
     
  11. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

    Joined:
    Jul 11, 2010
    Messages:
    6,842
    Location:
    Tennessee
    Trips to Las Vegas:
    50
    Not so sure. Looks like the Mandalay Bat reonnovations are moving forward. Is there really anything else on the MGM vegas radar at the moment? I think the rennovations at Bellagio and Grand are either finished are close to completion. I guess the inevitable Harmon teardown is a type of improvement.

    As far as Macau, are they developing with the Ho family? If so, could be like Dubai World and Citycenter. Let the foreign interests foot a big chunk of the bill for development
     
  12. 44inarow

    44inarow VIP Whale

    Joined:
    Sep 8, 2012
    Messages:
    1,787
    Location:
    New York, NY
    Trips to Las Vegas:
    23
    I'm fairly sure they've partnered with the Ho family in Macao. It was a big driver of their decision to get out of Atlantic City -- the New Jersey regulators raised a concern about Pansy Ho and company, and MGM wound up dumping their half of the Borgata (which was, and continues to be, one of the few relatively bright sports in the AC market).
     
  13. VegasKing

    VegasKing Low-Roller

    Joined:
    Mar 22, 2008
    Messages:
    419
    Trips to Las Vegas:
    100
    Hakkasan club portion is opening in April. The restaurant is opening in May.
     
  14. LolaDoggie

    LolaDoggie VIP Whale

    Joined:
    Jul 6, 2009
    Messages:
    2,377
    Trips to Las Vegas:
    6
    No mention of Luxor either.
     
  15. DReynolds86

    DReynolds86 Come On, You Blues!

    Joined:
    Feb 16, 2010
    Messages:
    1,430
    Location:
    Pittsburgh, PA
    Trips to Las Vegas:
    5
    Luxor could definitely use a refresh, but it serves it's niche of being the cheap option on the south end of the Strip. It's perfect for college kids with the big pool area and low rates.
     
  16. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

    Joined:
    Jul 11, 2010
    Messages:
    6,842
    Location:
    Tennessee
    Trips to Las Vegas:
    50
    I think they did all their refresh on Luxor last year when they changed the carpets and the center bar. The place still feels like a dorm. Nothing wrong with that. I stayed there a couple times back in the day and had a blast!
     
  17. HoyaHeel

    HoyaHeel Grammar Police & Admin

    Joined:
    Feb 24, 2002
    Messages:
    19,131
    Location:
    North Carolina
    Trips to Las Vegas:
    16
    Heaven forbid! All the renos of Luxor in the past 10 years have removed all the fun egyptian theme! Last couple times I was there (2 yrs & 3 yrs?) the casino was all torn up - both times:rolleyes2:

    Though if you mean the rooms, have at it:peace: Though I believe all hotels have an ongoing schedule of refreshing, at least.....
     
  18. DReynolds86

    DReynolds86 Come On, You Blues!

    Joined:
    Feb 16, 2010
    Messages:
    1,430
    Location:
    Pittsburgh, PA
    Trips to Las Vegas:
    5
    I meant the rooms, yes. Tin wall decor and 27" tube TVs are a little dated. Otherwise, I'm a big fan of the pyramid. It was the first resort in Vegas at which I stayed so it'll always have a special place in my heart.
     
  19. RPMCanes

    RPMCanes High-Roller

    Joined:
    May 29, 2010
    Messages:
    998
    Location:
    Lawrenceville, GA
    Trips to Las Vegas:
    12
    With the new leadership at The Mirage, I hope they plan on spritzing up the casino a little. Love that place but the casino definitely could use some work.
     
  20. jon95616

    jon95616 Low-Roller

    Joined:
    Dec 20, 2010
    Messages:
    242
    Location:
    Southern California
    Trips to Las Vegas:
    15
    I believe they remodeled all the tower rooms about 5 years ago.

    They also did some de-theming of the casino at the same time Luxor lost a lot of its Egypt theme.

    I don't think we will see Excalibur demolished in the next 15 years at least.
     
Thread Status:
Not open for further replies.