Next Phase of Mega Resorts

I disagree about Wynn not changing the game in Vegas. It set the bar for a Vegas resort, a bar that hasn't been beaten yet. The only mistake Steve originally made with it was not including a massive outdoor feature like Bellagio and Mirage have. Of course then he went club crazy but that's a whole different topic.

If I had the money I would happily build a Wynn sized resort. It would be a true 5 star property that focuses on luxury, fair odds for gaming, a good variety of unique restaurants and one small club that gives preference to guests. Non guests would see very few spots and would have to pay up the butt so to speak to get in.

 

Again, I'm mainly referring to the discussion that took place in 2005 when WLV opened, and obviously the place was going to be compared to Steve's previous creation. While there were some who did like WLV better at the time, I think many, while acknowledging that Steve once again had built a beautiful resort, that it wasn't as transformative as Bellagio (and Mirage before it) had been to the Vegas landscape. Personally, I thought the rooms were a wash (although WLV's were bigger), the pool area at Bellagio I thought was nicer, the casino was more table-game dominated at Bellagio, and of course the Bellagio had the conservatory and, as you said, the iconic outdoor feature with the lake. At WLV, I have come to appreciate the tranquility of the dining experience at SW with the mountain of trees blocking the outside, as well as used to like eating on the balcony of the Country Club restaurant (look forward to seeing what Keller puts in the space next year).

Before the allegations forced Steve Wynn out of the company, it seemed like he wanted to fast track the project at the Frontier site (IIRC, he was talking about bigger rooms with huge TVs). However, while Wynn was the guy who could get folks genuinely excited about a new Strip development, I was again skeptical about whether he'd be able to deliver a transformative project. Of course that's moot now. But speaking of Wynn Resorts, this was a thread I started a few months ago in another subforum here which mirrors this one...….which includes a quote from Matt Maddox at the opening of Encore Boston:

https://www.vegasmessageboard.com/forums/index.php?threads/the-next-great-project.164137/

 

My kids, in their 30's don't gamble. They can't afford it. When I was in my 30's, i didn't gamble either. I couldn't afford it. In my 30's, I had no desire to go to Vegas. As i got older and more financially stable (and probably stupider) I started to enjoy gambling.
Give the younger generation time. They may come to love Vegas, when they can afford it.

 

Younger generation are in Vegas, they do other stuff other then gamble

 

Mega, mega resort fees?

 

Room count is probably one of the fundamentals on which to define a "mega resort". Stardust had ~1,500 whereas Mirage has ~3,000. According to Wikipedia, The Mirage is the 23rd largest hotel in the world by room count. The Stardust wouldn't have even made the list.

https://en.wikipedia.org/wiki/List_of_largest_hotels

Maybe there is another way to look at it, but that was the first thing that came to mind.

 

You are absolutely right but he has a pretty decent point. The average age of tourists in Vegas is in the mid to late 40s according to the LVCVA. I think it's been in that ballpark for awhile.

 

Yes but it’s coming down. When I was going in the 60s it was mostly 55-60+ so do to 40s now and soon into the 30s

 

It depends on how Resorts World and The Drew do, but in my opinion, the next phase is the downsizing of resorts, unless another visionary hotel owner were to deliver another breathtaking spectacle like the Mirage and Bellagio were at the time. Mega resorts, let alone hotels, are massive investments, so companies (I'm looking at you, CET and MGM) often err on the side of caution and stick to established formulas. I mean, Singapore's Jewel Changi Airport is more Vegas than Vegas.

What we're seeing now is the shifting of Vegas towards non-gamblers. MGM is focusing its efforts into turning Vegas into an entertainment hub for sports and concert-goers, who aren't the whales of Vegas past, but will bring a more consistent supply of money. This means more food court-style restaurants and less emphasis on gambling.

 

If we're gonna split hairs according to room count, I daresay that Bally's, Flamingo, Cosmo, Luxor and even the Egg Salad Bar all have room counts in the same order of magnitude as Mirage, but you seldom hear people refer to any of them as "Mega Resorts."

Circus? "Mega Resort" (tm) ??? I'm sure the room count is up there too.

 

I too feel that if a casino went all in on having the BEST odds on EVERYTHING it would pay off. I'm not just wishful thinking for my own benefit, I'm thinking business model. Derek Stevens is doing it, but half assed. If he would offer a good video poker game he could be known as "the place."

A big casino floor with lots and lots of table games with good gambling conditions. Sure, the ploppies wouldn't know or care why, but we informed gamblers would create the buzz that "Casino X" is THE place to go to gamble. "duuuuh, I heard that we just HAVE to go to Casino X because it's THE place to gamble." And if that casino was busy all the time, filled with both informed and uninformed gamblers, the volume of action would insure a profit even with the smaller house edge. And, with the huge crowds there would money made off the dining and clubbing and all the other revenue sources. "Offer a good gamble." It worked for Benny.

I think that this doesn't happen because the casino execs base too many decisions on the principal, "There's a sucker born every minute."

 

Maybe not Aria by itself, but remember, it's part of City Center. That whole complex is about as mega resort as you can get. They definitely went as big as there has ever been with all that. And the result? Meh. So that probably reeled in the bigger is better thinking of developers.

 

I feel like we should keep the Drew out of the conversation until they actually do something. Until then it has been years of just talk about what that hotel/casino will do to help the city.

 

Wiki's definition of a megaresort at the link below. Kirk Kerkorian's first two projects, the International (now Westgate) and the original MGM Grand (now Bally's) are credited with being megas. I'm not sure just adding hotel rooms, as Stardust did with the tower in 1992 (?), necessarily creates a mega.

https://en.wikipedia.org/wiki/Resort_hotel

 

I know its going against the grain of the OP, who is essentially asking "what features will the next places built have that take the experience to the next level?" Its not an easy question to answer, because pretty much all of the new-ish places have the outsized rooms, the lavish pool areas, the quality restaurants, the shows, shopping areas, etc.

But the mention of downtown intrigues me. Is there any room on the Strip to create an atmosphere with newly built stuff that would be similar to Fremont? I'm not talking necessarily in terms of gambling odds (which I think are gone on the Blvd), but just in terms of walkability. Maybe you can make the argument that it kind of already exists in the stretch between Cromwell and Harrah's, I don't know.

 

young people aren't into gambling to the degree of older people because they don't have the disposable income that the older set do. this is not a new paradigm.

 

Well, I'm not trying to split hairs but rather just throw out one possible means by which you could define it since it's an elusive term to begin with. As I mentioned in my original post, I could see it being one of the fundamentals, not the entire definition in and of itself.

 

I agree with a previous poster that the proliferation of gambling venues around the country has forced Vegas to become a destination that goes beyond gambling. Based on this I expect a continued trend toward conferences. shows, restaurants, sporting events, spas, and other luxury experiences that may not be available at local casinos around the country.

I also think that the casinos will have more major refreshes than tear down and rebuild projects (ala. The Park, The Linq, etc.)

 

The rebranding of current resorts is a major let-down in my eyes. I think we're suffering from a lack of visionaries, and have a flood of executives simply chasing short-term profits; not the long term.
It'd be far better, long term, to improve odds and stop pissing off customers with fees upon fees.

 

I think we can all agree no mega resort DT as of today

Imo, mega restore will have a huge footprint and a load of rooms for starters