Is Excalibur The Next One To Go?

The Monte Carlo, The Riviera...The Castle!? Or should we say the Park Castle?

Does imminent doom hover over Excalibur? An S&G source says MGM Resorts International is talking about imploding it and replacing it with a “higher-end resort.The alleged motivation is to keep up withSteve Wynn and his Wynn Paradise Park adult playground, slated to open four years hence.

http://dmckee.lvablog.com/?p=18478

 

Eh undocumented source...I wouldn't believe it just yet. I could see MGM tearing up Excal, but I think it also fills in a niche for them quite nicely.

 

It seems to be fairly busy when we walk through there. They need to hold on to lower end options.

I can not imagine what it would cost to tear down, maybe two years with ZERO revenue,and then build something that competes with their other properties. Just my cent and a hlf.

 

Well Monte Carlo hasn't been imploded. Bit of drama in the subject. As someone has mentioned, Excal fills a niche.

 

Maybe. It's another hotel that needs a complete gutting to get people to change their minds on it. But chasing after someone else again doesn't seem smart. Does the strip need another high end resort right now? Or would a conversion more like IP to Linq make more sense?

 

I would be disappointed if the Excalibur was replaced with yet another modern metal and glass box with no theme and no resident show. Vegas is a lot less unique than it used to be, for sure.

 

This. Places like cosmo, aria, etc kind of bore me. I prefer kitsch

 

MGM does not have the cash flow to implode and rebuild. They also don't need any more high end rooms once Park MGM opens they will have well over 10k high end rooms. That's enough. The castle is a sold earner and doesn't need a lot of new money to keep earning. Monte Carlo was in to prime a spot to perform as crappy as it did, so that's why they renovating it.

 

Excal is always busy, and the tower 2 rooms are actually really nice. It would be a sad day if it was no more...

I think a lot of people would go to CET to get a cheap place to sleep, shit, and shower

 

I hope it doesn't go. I actually LOVE flying in and seeing Excalibur...I know it's officially "fun time/Vegas time" when I see the castle...it's iconic!

 

Well said. Iirc, Excal's EBITDA numbers are fairly strong.

 

I'd be pretty ticked off if they did this. Great, knock it down and replace it with another generic looking building. Besides, I'm fairly certain the Excalibur is a big money maker for them, it wouldnt make any sense.

 

Please no. The Linq would become a zoo.

 

I'm all for newer stuff on the Strip, even though I can't get as excited as I did in the past due to the proliferation of crappy gaming conditions on the Strip. I just don't trust MGM to properly pull it off. Now, if they sold Excalibur and Luxor to Steve Wynn and he built the new place......

 

Not entirely sure I buy this either. That would be a lot to invest.

But, playing devil's advocate, I disagree about Excal's numbers being 'strong' (weaker than all but CC and sometimes MC). And in 5-10 years, all those MLIFE hotels will that that much older and less interesting, and the strip well North of them could have a bunch of fresh new things to see and do. The arena could help keep numbers coming south, but it might not hurt having a new/hot hotel once Aria has faded into the same old same old category.

Generally the new Vegas philosophy tends to favour re-skin over teardown, but that could be tough with such a themed resort.

 

I'm hoping this doesn't happen - Excal, Luxor and NYNY are my core casinos, I figure I have about 20-30 years of Vegas left in me, leave them alone until I'm done!

 

I hope Excalibur isn't the next one to go. I've yet to spend a knight there!

RICHARD

 

Surely Vegas is all about choice and it went down the 'themed route' and now going down the 'non-themed route' and like all good merry go rounds, we will see it all again at some stage. If they wait a couple of years, kitsch will be back in vogue, we will all be dreaming of old school and desperately seeking castles, pyramids, flying carpets, yellow brick roads and nascar experience breakfasts! I love seeing a bit of everything in Vegas, being all upmarket and sanitised would destroy it for me. Each to his/her own.

 

Seems like yesterday's posh becomes tomorrows budget ... even with business on the upswing, Vegas is likely to always have some budget options at non peak times at least.

Can't really avoid it when a town needs to be able to hold hundreds of thousands more visitors on a convention/big event night than normally visit.

I'm not sure how strongly themes will ever come back, if at all.

I could be wrong, but part of the reason we are talking about a potential rebuild vs refresh here is because the Excal theme is so strong, it would really constrain design choices to re-skin the existing hotel. I don't think Vegas will want to again get in to spending billions for themes for which the novelty will wear off, and which need a teardown to be replaced.