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Next Phase of Mega Resorts

Discussion in 'Misc. Vegas Chat' started by WeCax49, Oct 12, 2019.

  1. Crawfordesquire

    Crawfordesquire High-Roller

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    casinos, and quite possibly resorts as well, are no longer novel.perhaps the issue is the question is faulty.

    what i mean is, the original flamingo was not the answer to a question, just like the desert inn wasn't, nor was the mirage or bellagio.
    the next great thing is just that because of originality and meeting a need/demand that is not presently being recognized/served because if it was, it wouldn't be a need or demand.
    those resorts worked because they did not answer a question, they were revolutionary.

    the next phase of mega resorts to me may be an oxymoron. that is if the upcoming ones fail because they don't work with the next generation like the resorts i mentioned above did with their respective generation.
    as a contemporary reference, 'city center' in hindsight would never have been built, at least not in it's current scale because it never really worked as envisioned.
    the cosmopolitan is successful because of its scale, location, and just as much for what it isn't as what it is.

    sorry if this reply seems sorta don draper-y. i just think this question may be sorta a 0 denominator type.
     
    attending raiders 2nd home game, so dates tbd
  2. shokhead

    shokhead No big spender unless eating drinking having fun!

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    Location, location, location!
     
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  3. oghuman

    oghuman VIP Whale

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    M y first tip to Vegas was in 1995, I stayed with my friends at a timeshare, I didn't gamble much because they were not gamblers they were there for an event with people I knew. I loved the different themes in the casinos then. Loved Paris, Hilton with Star Trek, Luxor, etc. Now they're pretty much skyscrapers that look somewhat alike. I worked in Manhattan most of my adult life, I don't get anything out of seeing another version of a skyscraper. Bring back the themes.
     
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  4. vegasvette

    vegasvette High-Roller

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    Right now, the strip is generally defined as the area between the Encore and MGM, on both sides of the street. I realize a few properties exist on the strip outside that area, but the majority of visitors stay on strip properties within that area. What if, just what if, investors decide to roll back the clock, and try to attract visitors who have been fed up with the resort fees, parking fees, poor VP and table games, and now visit and stay at off strip properties? Like me.

    If there were a half dozen new properties developed north of Encore, up to The STRAT that welcomed visitors that prefer the strip like it used to be. The clubs, high end chef owned restaurants, and Beverly Hills shops wouldn't exist in these properties. That could likely get the old timers that don't seek out those things back to the strip. A smaller community with decent rooms, food choices and better gambling choices just might succeed.

    The Riv, Sahara , Thunderbird, Frontier, Stardust were located in the area I'm describing.

    Just a thought.
     
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  5. ken2v

    ken2v Wish I was in Bend

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    I have faith in capitalism. Generally. We pundits here like to rip into the "idiots" who run these major casino corporations that dominate the Strip. They aren't doing what we want so they are ignorant. I think they're rather smart. Bottle service, retail, better eats ... it's been working well for quite a long time now. And they keep offering "less", charging more and we keep moaning, and yet we still turn up in droves. If the model as suggested several times here is sound, it will appear. Have faith. But do not make the mistake of thinking our/your generation's definition of what is "good" is always going to hold sway. Nostalgia is a very solid thing ... when visiting Cooperstown.
     
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  6. oghuman

    oghuman VIP Whale

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    I play at CET properties because my closest casinos that I go to are in Atlantic City. I'd guess that CET isn't going to build another property soon when they just had a merger and they need to figure what next steps are. They need to make a profit at some point without trying to build new. If a new Mega casino is built I'm not going there to gamble if it doesn't have affiliation with one of the major casino companies.
     
  7. The Rumor

    The Rumor VIP Whale

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    It's been a decade since CET or MGM built a casino in LV

    But they've done plenty of reinventing/expanding. That's their MO now - turn Monte Carlo into Park MGM, IP into the Linq, Bill's into the Cromwell, refresh XY,000 hotel rooms, build arenas, etc. They already used the good land for mega resorts.

    I think we're also talking too much about a revolutionary change when there's been a ton of evolution in Vegas since the Mirage. Compare the Cosmo or the current MGM Grand to the Mirage of 1990. It's a very different resort. Same with what will be Resorts World.
     
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  8. Crawfordesquire

    Crawfordesquire High-Roller

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    vegas is certainly more evolution than revolution, with the mirage being the exception.

    cet and mgm, as they currently exist, haven't even built many properties [in vegas]. so new ground up growth from them has never been their MO (as you point out).
     
    attending raiders 2nd home game, so dates tbd
  9. Crawfordesquire

    Crawfordesquire High-Roller

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    as you say, your idea isn't new. i think it's viable once self driving cars and automobile transportation as we know it changes dramatically and getting around is a lot quicker.
     
    attending raiders 2nd home game, so dates tbd
  10. LVRaiders

    LVRaiders High-Roller

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    Agreed. Younger co-workers of mine head to Vegas for any reason but to gamble.
     
    Summer 2020 Getaway
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  11. ken2v

    ken2v Wish I was in Bend

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    They don't do much of anything like we (Boomers, Tweeners) did and do. That's the point many aren't getting. 8/5 Jacks when it was once 9/6?!?!? They aren't taking a sword over that. Not at all.
     
  12. Viva Las Vegas

    Viva Las Vegas Ramblin' Gamblin' Man

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    Not idiocy. Absentee ownership via institutional ownership (mutual /index / pension funds, diluted) has led to insatiable theft, greed, avarice and cupidity at the senior management ranks, confiscating shareholder equity while simultaneously firing as many employees as possible for maximum wealth confiscation. Eventually, the scheme collapses and share/debt holders are left holding the bag.

    This is obviously a phenomenon not limited to the casino industry, but is more egregious given the negligible positive attributes these organizations offer society, preying mostly on predatory gambling for 80% of their revenue.

     
    First Ever Leap Year Day Vegas Trip! Viva Retirement!!!
  13. ken2v

    ken2v Wish I was in Bend

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    "Preying" on gamblers? That's rich. "Positive attributes"? Where's a warm-fuzzy Ace Rothstein when we need him? lol
     
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  14. Viva Las Vegas

    Viva Las Vegas Ramblin' Gamblin' Man

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    An Indiana cornfield is a good resting place for the lot of them.

     
    First Ever Leap Year Day Vegas Trip! Viva Retirement!!!
  15. GlobalRoamer333

    GlobalRoamer333 Tourist

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    What Vegas investors/companies/developers will do will obviously be whatever they think they can make money from, and get approval for.

    In terms of what I'd personally like to see though, the most important thing (to me) is:

    * staying with themed resorts and introducing new ones. There are actually certain themed resorts buildings that I believe should actually receive heritage protection externally. Of course renovate them internally, but don't demolish them externally. Luxor and Excalibur and New York New York and Caesars and Paris and Venetian (to name a few) are example of these on the strip in my view. I believe that these should be maintained externally forever, rather than being demolished. Bellagio fountains should probably also be preserved. I also believe that some of the casinos downtown should receive (external facade) heritage protection. I am not saying all of these are great resorts. What I am saying is (in my humble opinion) they are iconic Vegas strip or downtown buildings externally. Some of the downtown casinos should probably be protected / restored internally as well, and some of that is starting to happen. e.g. Binions rooms. I believe that the age/history of downtown is their edge/advantage if handled/marketed correctly.

    I'd also of course like to see better odds returned to the strip (as many other have expressed), and a reduction or control of food costs and nickel and diming fees. However to me, these other things look very unlikely, and are less important in maintaining Vegas as an iconic/unique destination. Also, when strip costs are expensive then this gives an advantage to off-strip/downtown venues, and I also really want to see these venues continue in a healthy way.

    Just my views anyway, and obviously everyone has their own view.
    All the best.
     
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  16. topcard

    topcard Older than the Stardust!

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    You may be onto something here... I've definitely noticed that, any commercial airing these days which features a "Vegas" backdrop almost always includes at least a partial shot of the 4-Queens. It really is "iconic"... the same could be said of the Bellagio fountains, the Flamingo neon sign and the Plaza exterior (prior to slotzilla).
    Some of it appeals to the nostalgia of those of us old enough to glorify and magnify the significance of these icons - usually exaggerating the "good" and conveniently forgetting the not-so-good of the 70s through 90s.
    Nevertheless, there is also an appeal to those who never had the chance to "experience" Vegas from those earlier decades.

    I see clips of Vegas from the 50s & 60s and think to myself, "I wish I could have experienced Vegas back then."
    I'm pretty certain that the younger demographic (whom Vegas wants to snag) has similar feelings about much of the 70s through 90s version of Vegas.

    The only puzzle is on how best to tap into that.
    If I think of how, I'll be sure to let y'all know!
    :beer:
     
    Unscheduled Spring Trip!! (...& I have my required bankroll now!!)
  17. jr7110

    jr7110 VIP Whale

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    Vegas has zero loyalty to its history. None. Iconic places like the Stardust, The Dunes, The Sands etc have all been imploded with hardly a sniffle, and if it weren't for the efforts of people behind the Neon Boneyard, all of those great vintage signs from yesteryear would be resting deep in some landfill right about now.

    There won't be any more themed resorts as far as I can see - in fact, ten years ago, Vegas made a huge effort to de-theme as much of the resorts as possible. I am not sure how long you have been going to Vegas, but the inside of Luxor used to very heavily Egyptian-themed and all of that was removed for a generic look. They can't de-theme the outside without great expense, so they left it as it, but believe me, if they could have, they would have. The same with NYNY's facade. NYNY still has what are supposedly NYC streets in one section (I am a native New Yorker and trust me, no streets look like that) but that is also probably because it would cost too much to redo. The casino used to be a representation of Central Park, complete with a lake and trees. All gone.

    Another reason I believe the era of the themed casinos - and the Mega Resorts, for that matter - is over, is because of the recent sale of Bellagio and Circus Circus. The writing has been on the wall for a long time. Slowly, MGM has been divesting itself of certain things - I first noticed it in 2011 when they sold the rights to use Bellagio's Fontana Bar space (which MGM ran) to Hyde, because it was easier to let someone else manage that space and just collect a check. The same thing with Cafe Bellagio. MGM ran it, but now as Sadelle's they just collect their rent and they can wash their hands of the day-to-day management. The major players on The Strip no longer seem interested in building Mega Resorts, and now they no longer own the land under some of them. They just want to run the properties as if they are leasing a storefront.

    MGM admitted in the press release regarding the sale of Bellagio and CIrcus Circus that they are focusing on sporting and concert events. They have seen how much revenue something like the T-Mobile arena has generated, and what a cash cow the Vegas Golden Knights have become, especially since Vegas is a major sports betting destination. Much in the way they jumped on the whole nightclub/ultralounge/day club bandwagon several years ago when that was the hot moneymaker, they see a Golden Goose in the fact that Vegas is suddenly becoming known as a destination for major sporting events and major headliner concerts. In the off season when the teams aren't playing, having megastars perform in those arenas still generates plenty of revenue. People who would never gamble a dime are now flocking to Vegas to take part in these sporting and concert events, and spending tons of money on tickets, hotel, dining and parking. That is why so many arenas are being built (I think it's up to three now, if I'm not mistaken) and why MGM is turning the site of the Oct 1, 2017 massacre into a parking lot (!) for these events.

    MGM has frankly shown its cards (bad pun intended) to its loyal gaming customers by slapping the faces of its premium Players Club members. Can you imagine spending as much money as it takes to get invited to Noir Status and then end up having your 30% room discount lowered to the same 10% that someone who barely gambled a dime at MGM would get? I am certainly not Noir, but if I were it would be enough to get me to head right on over to CET and spend all my money there from now on!!! Complete with the new "earning rate" of tier credits and Express Comps as of October 1st, and the decreasing of comps in general across the board, I don't think that any of these gaming companies are as invested in their gaming customers anymore. They know that people will always come to Vegas as a destination no matter what, and they can attract even more people by offering major sporting, concert, shopping and dining establishments that will continue to rake in the revenue.

    Always remember that the main priority of these corporations are not the customers who frequent their establishments, but the investors and Board Members that they have to answer to in terms of profitability.
     
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