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Which strip property is next to go?

Discussion in 'LV Strip Hotels & Casinos' started by doctork, Dec 21, 2013.

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  1. doctork

    doctork Low-Roller

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    Somebody's post in another thread got me thinking about this. Which strip property do you think will be next to close its doors?

    I guess the obvious ones would be the Riv or Circus Circus? Maybe something else? Who ya got? Think of this as a Las Vegas strip death pool. Winner gets a high-five.
     
  2. captainron62

    captainron62 VIP Whale

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    No clue how the Riv has stayed open this long.
     
  3. LolaDoggie

    LolaDoggie VIP Whale

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    It makes me sad to say this, but, likely the Riv unless they can get their $hit together. I don't think the Riv's location is that bad. It doesn't make sense to me that the 2 hotels closest to the convention center are struggling. Why can't they make something happen? I don't think we're going to see implosions and big projects for a while though. I wouldn't be against a nice makeover. It's sad that the Riv's parent company is maxed out financially and all they've got to show for it is being able to tread water and survive. It seems like they come up with a good idea and then make a half-hearted attempted at it and then don't follow it through.
     
  4. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    My guess would be Hooters.

    Circus Circus, for as dumpy as it is, has it fans. I probably only stop by there once a year, but every time I do, there are crowds. Its serving a niche market, but that is more than sufficient to keep it open. The only reason to close it would be for redevelopment. And MGM already owned (and maybe still owns, I'm not sure) all that property across from the Sahara site, and they shelved all plans to redevelop it years ago. So I don't see CC going anywhere
     
  5. Kickin

    Kickin Flea

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    Wherever I stay next, because I'm gonna clean them out!
     
  6. socalguy92010

    socalguy92010 Tourist

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    I would say with great sadness, the Riv but my God, how CC stays open is beyond me. The Riv was where my wife and I stayed when we really started becoming regulars in town. We loved it and to me it was old school Vegas.

    We hadn't been up there in years so over the summer we walked up from Encore just to see what was up, have a beer and reminisce. Holy crap table, it was completely deserted. I mean there could not have been 5 people gambling in there. Kind of sad.

    Then we walked across to CC which I was never a fan of. That place is decrepit. The paint outside is faded, peeling and it is a total dump. But as was previously mentioned, it has it's certain clientele and was packed.
     
  7. wigwam_salesman

    wigwam_salesman VIP Whale

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    I'm speculating but I think the places near the conference centre are doing bad because that place is likely to attract tourists more than hardcore gamblers and tourists want to see the famous places.

    I suspect CC lasts because a) it's family friendly and b) outside of these forums it remains a tourist attraction in Vegas.
     
  8. 44inarow

    44inarow VIP Whale

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    I've been told repeatedly that CC makes a ton of money for MGM, both from the business side (they're pretty much the main family-oriented property left on the strip), and because of their balance sheet (there's supposedly little-to-no debt on the property). I'd be shocked if CC goes anywhere in the near future. Riv is probably at the top of my list, because it's not making money and not owned by a company that can absorb those losses. I'll also toss Trop out there, just because they're throwing so much money into reinventions that keep not working out.
     
  9. spicole

    spicole Low-Roller

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    Indeed. There was a link somewhere on the board in the past year to the MGM annual report, and sure enough CC is a relatively decent money maker. I agree with the other posters - I would be shocked if it goes down.
     
  10. spicole

    spicole Low-Roller

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    Aw yeah!
     
  11. runningonthehub

    runningonthehub Low-Roller

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    I just hope the Riv and CC can hold own until the Resorts World project goes into to the old Echelon Place location.
    Hopefully Resorts World will bring some new life into that area. The Riv and CC were great places in their day. I would hate to see either one of them go away.
     
  12. Motorcat

    Motorcat Low-Roller

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    On our last flight into Vegas we stood in line with a lady who works at the Bellagio and struck up a conversation. She confirmed to us what you are saying about Circus Circus - property is paid for and its a money maker for MGM.

    Rivera and Hooters are solid entries into the death pool IMO.

    Tropicana has a crap ton of money backing it - I doubt its going away anytime soon
     
  13. waverunner

    waverunner BBHMM

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    Hopefully City Center.
     
  14. MTROH

    MTROH Low-Roller

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    If anything, I would expect closings to be severe in Atlantic city and if anything closed in Vegas it would be downtown.
     
  15. lasvegas_limo_driver

    lasvegas_limo_driver Vegas Guru at Infinity

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    I doubt circus circus or riv would be next, but i have been wrong before. Trop needs to go , as well as Hooters. I am amazed that imperial palace made it this long. i agree, i think it will be something downtown. i think will the so called revived downtown that someone will buy something up to demolish and build bigger.
     
  16. kps

    kps High-Roller

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    The numbers always interest me. Here's the link to open up MGM's 2012 annual report:

    Page 18 gives a great breakdown of MGM's net revenues over the last 3 years.

    Page 26, breakdown by casino which to me shows they are all making money with the exception of the other properties.

    http://mgmresorts.investorroom.com/index.php?s=120
     
  17. M_ILIS

    M_ILIS High-Roller

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    Curious why you say this. The last few times I've been in there, I really like the new feel of the casino. Pics of the rooms look really nice, too.
     
  18. ardee

    ardee VIP Whale

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    Tht report surprises me. I knew Luxor was slacking since they de-themed it, but those numbers are horrible. Excalisuck is actually taking in over 4 times the revenue? The numbers also show that if Resort World gets off the ground, Circus Circus is toast. They don't make much, and renewed interest in the North Strip will temp MGM into building something new that is even worse.
     
  19. Kickin

    Kickin Flea

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    Yeah Luxor is probably performing the worst relatively speaking based on footprint and location, kind of surprising. And I agree if there is renewed interest in the north strip after Resorts World it would make it hard for them to justify keeping Circus Circus open for that low return on its location regardless of it being unencumbered.
     
  20. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    I doubt it, only because Resorts World will build another mega resort aiming to be five star and trying for high rollers. CC attracts a completely different clientele.

    And I doubt another mega resort north strip provides any incentive for MGM to tear down CC. I think they still own the property across from Sahara. If they need another mega resort, it makes more sense to build there, rather than incur the additional expense of tearing down CC and losing its revenue
     
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