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I suggested some time ago that I expect Circus Circus to be razed for a new modern Casino.

Discussion in 'Misc. Vegas Chat' started by fischer, Aug 10, 2019.

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  1. fischer

    fischer Low-Roller

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  2. 44inarow

    44inarow VIP Whale

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    MGM has plenty of existing empty space. I would be highly surprised if they demolished CC.
     
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  3. dmr

    dmr Registered Abuser

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    It's a Cash Cow (tm - BCG), fully depreciated and generating cash flow.

    Perhaps they learned a lesson from Boyd's mega-screwup of imploding the Stardust?
     
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  4. HoppinHardWays

    HoppinHardWays Low-Roller

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    That article is two years old. The last profit release it was one of their more profitable properties.
     
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  5. AbFab

    AbFab Low-Roller

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    why is it so profitable? The children?
     
  6. HoppinHardWays

    HoppinHardWays Low-Roller

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    My guess is it’s 100% paid off and has had minimal renovations
     
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  7. Pbtrav

    Pbtrav Low-Roller

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    free of debt..
     
    October trip...trying out Nomad this time
    Annual Dec trip to Aria
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  8. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    It even generous to call thi link an "article". Its just a blog post feom two years ago citing one figure that's even older.
     
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  9. pressitagain

    pressitagain High-Roller

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    It could happen. The cash cow is in our eyes a great thing. But it’s not a growing. Corporations are all about growth.

    My cousin was CEO of a large corporation. Same thing. One old arm generated 50 million year after year. No more no less. Shareholders wanted growth...he had to sell it. Now there is a shortfall of 50 million...he got let go....
     
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  10. AllenAndRossi

    AllenAndRossi Low-Roller

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    This article is from 2 years ago.

    We visit the place a few times a year, because we have a 5 year old. We have never stayed there and never will. However, the place is still attracting crowds. The parking garage is full. There's not a single empty storefront or retail location in the place. You can see the pool from an outside area at the Adventurdome, and the pool has lots of people during pool season. The casino is getting action. And it's obvious the only money MGM is putting into the place is for payroll.

    Fontainebleau/The Drew sits directly across the street as an ugly, constant reminder of north strip failure. Sure, the current owners claim it's going to be finished and opened in April 2022. But there's not a thing being done on the site. Resorts World isn't scheduled to open until late 2020, IF it meets its deadline. Drawing increased business to formerly-known-as-SLS Sahara remains to be seen.

    I don't know who owns the land the McDonald's next to Slots-A-Fun and the Travelodge across the street north of CC sits on. If MGM doesn't own that land, they would probably need to acquire it to build the type of property they would build.

    There's no way MGM is going to dump billions into a new resort on that site for many years.

    In October, CircusCircus celebrates its 51st anniversary. I think seeing a 55th anniversary is a lock. And I wouldn't bet against a 60th anniversary.
     
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  11. lmking1224

    lmking1224 High-Roller

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    As already mentioned, that article is old. It looks like a low-budget personal blog, so it's just someone's opinion. Their opinion is probably about as valuable as mine. (Which means...it's probably not even worth two cents.)

    We visit Circus-Circus on almost every trip. I actually like going there. :goofy: I always like playing slots there (until our last trip, when my bankroll was legit murdered on the Simpsons, Jurassic Park and a few other games.) :cry:My husband doesn't really enjoy gambling but likes playing the silly midway games. And we like eating at Vince Neil's, especially with a Groupon. (Seriously, y'all, the steak Groupon for Vince Neil's is one of the best deals in town, particularly if you aren't all that fancy.)

    Anyway, every time that we visit, the place is busy.

    Do I see MGM doing something different with it later, if other stalled projects actually take off and the area becomes busy again? Maybe. For right now, Circus-Circus is the most happening thing going on in that area. It's paid for...and anyone who owns real estate of any kind knows that paid-for property is the best kind of real estate. And despite how much the Vegas savvy might hate Circus-Circus, the place is far from dead.
     
  12. HoppinHardWays

    HoppinHardWays Low-Roller

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    After the Park MGM debacle I don’t see it.
     
  13. SH0CK

    SH0CK Stylin' and Profilin' Quasi Tech Admin

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    I think they would develop the 33 acres they own North of Circus Circus (Las Vegas Festival Grounds) long before rebuilding on the CC site.

    lasvegasmap.gif
     
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  14. dmr

    dmr Registered Abuser

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    I made a fleeting reference to the Boston Consulting Group matrix of Stars, Dogs, Cash Cows and that fourth category which nobody agrees on the name for. Google "BCG Matrix" for more discussion on this than you can sip out of a fire hose.

    A place like Circus would clearly be a Cash Cow, the former Lucky Dragon would clearly be a Dog and any of various oh-so-trendy places would be Stars.

    Boyd screwed the pooch by killing a cash cow hoping for a star and learned the lesson the hard way!
     
  15. leo21

    leo21 VIP Whale

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    There is a rumor that CC is for sale. No MGM won't implode it for a new casino but they will let it go. And I wouldn't bank on the replacement to be a casino.
     
  16. AllenAndRossi

    AllenAndRossi Low-Roller

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    Can you point us to those rumors? Because a search brings up nothing about any rumors.

    Of course, everything is potentially for sale. Everything has a price.
     
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  17. leo21

    leo21 VIP Whale

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  18. Breeze147

    Breeze147 Button Man

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    It will be rebuilt, re-themed and named "District Of Columbia".
     
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  19. TableToddyy

    TableToddyy High-Roller

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    A large Hispanic base that pays cash for everything. Little or no comped rooms. A lot of players there don't even use player cards.
    Actually stayed there a couple of times back in the day, with the kids. Check in always a nightmare there.
     
  20. leo21

    leo21 VIP Whale

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    No debt. MGM could easily pay to do the bare minimum there like switching our carpets, painting and just generally fresh looking and smelling and they do even do that. It will be interesting to see what happens because I don't think the regular customers there are going to move south to their other properties. It sounds like.MGM is desperate for cash flow.
     
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