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MGM worse Rep than Caesars ?

Discussion in 'Casino Industry & Development' started by TomTWI, Mar 8, 2015.

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  1. TomTWI

    TomTWI High-Roller

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  2. gmoney590

    gmoney590 VIP Whale

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    Are we really surprised that Circus Circus would have the worst rep; or, that it would be closely followed by Flamingo, the Trashy Castle, and Luxor. The question is which one of these will be the first to be imploded and rebuilt
     
    Back where we belong
  3. UTE

    UTE Plastics

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    Watch, when these entry-level casinos/resorts disappear we'll hear how gentrification is killing "old Las Vegas."

    You get what you pay for.

    Bill
     
  4. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    My guess, none. By accounts I have read, the three MGM properties actually make money. So there is no reason to tear them down, especially since they could develop the space on the north end of the Strip (for more than an outdoor concert venue) of they feel inclined to build something new on the Strip. As for Flamingo, I don't know what kind of revenue it generates for CET, but I can't imagine they have the funds to completely tear down and rebuild a property at the moment. Especially since the construction job would likely interrupt the revenue they are generating at a recently redeveloped property (Linq and Cromwell)
     
  5. 44inarow

    44inarow VIP Whale

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    Exactly. Until recently, I'd actually heard that Circus Circus was the most profitable casino in the MGM empire, because it was completely paid for and had no debt on it (they mortgaged at least part of it not long ago, though). And both Circus Circus and Excalibur attract a very specific niche, namely low-rollers with kids, that no other place in Vegas is a strong draw to. They might sell Luxor and/or Mandalay, but I can't imagine any of the MGM joints listed getting torn down soon, and I don't see MGM selling Circus Circus.
     
  6. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    Yeah, those are their only two properties that cater to families. And I know people that stay at them specifically for that purpose. Luxor also has a market too (mostly younger people who want a cheap place to stay).
     
  7. leo21

    leo21 VIP Whale

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    Sorry. If I was an investor, I would want to see a correlation ADRs and occupancy rates and reputation before I would worry about it. Show me that the bottom three are turning into the Riv and then you've got my attention.
     
  8. manutd82

    manutd82 Newbie

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    As UK Fanatic said Luxor certainly caters to that younger crowd. I know some guys I work with who I don't think all are 21 but when they go to Vegas for the boxing / UFC is one ofor the hotels they can check in and book rooms even though they are not 21. Something along those lines so they keep going back.
     
  9. hotreds

    hotreds VIP Whale

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    I was told by a local that Circus Circus had the best steakhouse on the strip. Also, that if you don't have kids you don't want to stay there and that that part of the strip is fairly run down.
     
    Will give them a try!
  10. dannyocean

    dannyocean High-Roller

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    Sure, all four of these places are dumps. Excalibur would get my vote to be imploded immediately and replaced with a parking lot, and it would be an improvement! But, seriously, there is no denying that all these casinos serve a niche. As much as I might like every hotel on the Strip to be like the Wynn or Aria, that just won't happen because ... not everyone is like me. And that's cool. I guess I kind of scratch my head that they didn't dive down into the numbers on these properties more. I mean, come on, comparing Circus Circus to the Wynn for anything is apples to oranges.
     
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