Which strip property is next to go?

The comments about Resorts World also got me thinking, when was the last time a Strip property was built targeting the mid-market? Paris? That's the last one I can think of (I'm not including refurbishments like Aladdin becoming PHo). Seems like everyone who builds on the Strip for the past decade is swinging for the fences with every new project (CityCenter, Cosmo, Wynncore, Fountainblue)

 

With constructions costs as high as they are, you almost have to target the high end. Remember, these guys are used to building hotels and getting their construction costs paid pretty quickly and their investors probably couldn't handle the idea of a mid range hotel that will take longer to show returns.

 

I'd go with Riv or Hooters. Though with Hooters I'd guess someone would buy it and turn it in to something else.

Also I'm betting either Caesars or MGM will unload something because of debt... not sure what though.

I also don't think Resorts World will get built... I'm really split on it. So much good and so much bad tied up in that getting built.

 

i think cosmo will get bought out

 

Absolutely but it's not actually going anywhere.

It needs to be part of CC. MGM dropped the ball there.

 

I'm with you on that, been in there twice and will never go back, way too hoity toity and has no character.

 

i like the hoity toity ,im looking for a rich girl to support me for life

 

Wow. Guess you're not a fan. Well at a cost of what...7 billion(?) it's not going anywhere.
I love the look of the place. Stayed at Aria right after it opened. It was nice but nothing great.

 

Haha, me too.

 

None of them are going to get torn down. They would just be left empty like FBlue and Sahara was.

But to close it's doors? Riviera, hands down. It has no hook, no draw, no attraction for anyone to stay there except -- nope, not even price. A quick check on vegas.com says Bally's is $79 today and Riviera is $89. There is no reason for anyone to stay at Riviera. The only people who do made a mistake and will admit it after, or even during, their stay.

Hooters is not on the Strip, but would get bought by Comfort Suites or something. Trop won't get the revenue they hope as it currently stands, but needs a big investment in another refurbishment to make it hip and desireable. I hope it does, because it is on a nice property.

Harmon? Stay tuned, right?

 

Harmon is done. It's just a matter when.

I stayed at the Riviera once cuz it was free on short notice and was surprised that the rooms were "upgraded" with flat screens and new décor.

I don't reget it but yeah, it's just too f*cking far off center strip. The Deuce came in handy often. I figured I'd play at their casino for a bit since I got the free room and I took them for 3K.

Ouch.

 

Strip / Near Strip
Hooters 9/5
Riviera 3/1
LVH 4/1
Stratosphere 8/1
Planet Hollywood 12/1
Tropicana 25/1
SLS 30/1 (Odds to reopen and then close after reopen before any other property closes).

Other Strip possibilities:

I could see the company purchasing Caesar's debt replacing their current section 8 housing properties (Harrah's, Quad and Flamingo). Casino Royale would likely be swept out with the tide under this scheme.

Planet Hollywood, part of the recent spin off of Caesars (which includes the WSOP and a Maryland casino) could be part of a fire sale / bankruptcy at some point.

Monte Carlo could be imploded at some point. Luxor is in a bad space to be imploded. I doubt they would also nuke Excalibur and/or Mandalay Bay in the next decade or two. A nuked Luxor would create a big mess and further isolation for MB).


Downtown Odds:
Las Vegas Club 4/5
Binion's 5/2
Plaza 6/1
Four Queens 12/1
La Bayou 15/1
Downtown Grand 20/1

 

The Riviera has the bad luck of feeling like it was dropped in the not so good area that's 20 minutes from everyone's house. Stuck right near a few mini malls and empty lots. Too bad the Stardust went away. Would have been a better old school representation, just for the sign and colors alone

I've been surprised for 15 years how the Hilton and now the LVH stayed around. I think the conventions helped, but way too far from the strip.

 

As much as I love Mandalay Bay, every time I am in that place, you could throw a bowling ball down any aisle and not hit anyone.
Unless some new marketing scheme happens, I think it may go bye bye.

 

That's one reason I really like MB, it's location means little foot traffic and it's never crowded. Of course that's not good for business.

 

MB, Luxor, and Excalibur are all too far from the action for me. I've been 11 times, and have gambled $50 between the 3 properties. 99% of my money has been spent at Cosmopolitan, Planet Hollywood, and Flamingo. CET needs to blow up Harrahs/Flamingo/Quad, absolutely no reason the center strip locations should not be filled to the brim every weekend

 

I hate to say it, too, but my vote would be for the Riv. It used to be such a great place, but the last few times I was in there, it was deserted. There were even big, empty spaces on the floor where there weren't any machines or anything. And its location is desolate; who's going to walk from Cosmo down to the Riv? Of course, Wynncore is nearby, but going from Wynncore to CC is like going from Saks 5th Avenue to Walmart; I don't think much attraction is there.

Agreed - CC is a fleabag dump, but as has been said, it makes money and is almost always packed full of Larry The Cable Guy types and their screaming filthy kids. It's paid off, so the money rolls in.

Hard to believe Resorts International will be built way down there in that wasteland, but if they do, it will very likely draw large numbers of Asian tourists off the rest of the strip. In any case, my bet is that it will be flashy when it's brand new, but will quickly gain a reputation as just another plastic, overdecorated, low-end hangout. Just a gut-level hunch.

 

Surprised there is only one mention of Casino Royale...I think it's only a matter of time before CET sweeps it up to extend their "block." They will have to do it with cash from selling their non-Vegas casinos and/or the Rio.

Comments on the Riv and MB are right on. I think most people figure the Riv isn't even there anymore mistaking it for the Sahara. MB relies on convention business...when I walk through the shops and restaurants there are people all over...back through the casino and it is empty.

Let's at least hope that there isn't further consolidation as we need some choices and not only 2-3 operators for every property on the strip.