Discussion in 'Casino Industry & Development' started by UTE, Mar 18, 2016.
My fish is fresh
The 2 hotels aren't associated in anyway.
Stayed at Encore last week and you can tell progress is being made. Still snails pace but progress nonetheless.
175000 square foot gambling space? That's the biggest on the strip. M. Bay is biggest at 160K, Bellagio and MGM at about 156K. With interest in gambling steadily declining (let's not get into the reasons), I wonder how RW is planning to keep that room busy......
Well whatever the reason they are opening ( they did say "scale back") I do hope they open soon we need more competition on the strip...better for players.
They're probably overestimating the market, but I would imagine that they're trying to lure the Asian gamblers. Resorts World is a big name across the Pacific.
I think they are trying to create more of a market to get more Asian gamblers.
well isnt hat where echelon.suppose to be ?? cause echelon is suppose to be asian theme hotel and casino
My guess is that they can always convert casino space to retail/food/bar space. Plus, it might help in the marketing if they can boast that they have the largest casino floor in town.
I walked by the site last week, didnt look like much was done since I made the same tour last Sept. BUT, on Saturday I took the Deuce back to the strip from Fremont, while sitting on the top floor of the buss I could see over the windscreen and saw the giant foundation dug, cemented and laid out for the main building.
So they are doing something in there, just nothing all that fancy yet. Looks like some more metal skeleton has been to the old abandoned one as well.
Echelon WAS owned by Boyd but the property was sold to Genting to make Resorts World.
Me thinks Mr Leach has some bad info.
Another from last week.
I'm still not holding my breath on this one. If they were serious about a Really Truly Mega-Resort, I would expect that more than a few contractor trucks would have been sighted.
It will be interesting to see to what extent Genting may downscale the project, or, who knows, possibly go for a different theme (perhaps this was what Leach was referring to). Either way, until cranes actually do start to show up on site, its tough to get too excited about the activity at the former Stardust.
The other interesting tidbit in Leach's article was the rumor that the Alon parcel may be up for sale for $300 million. With Wynn downscaling Paradise Park from $1.5 billion to $500 million (and without the hotel tower), does he have any interest in developing across the street from his complex? If not, I wouldn't mind seeing Eric Trump acquire the parcel. Trump wouldn't build anything that would wow anyone, but probably have a high-end place that would be a nice addition to the central-north Strip, with proximity to the existing Trump hotel.
Place was a ghost town last week, in fact I've noticed next to nothing in 4 trips there, dating back to last summer
My prediction is that this stalled project will span multiple recessions!
Some more activity according to Vegas Bright
Gaming is declining as a percent of total revenue but in terms of actual dollars it's still increasing from what I can find online. It looks like it took a dive in 2008 but has back on a very mild upswing since.
You are right though that this is a big chunk of gaming floor to add. It'll be interesting to see how it pans out.
Percentage of revenue from gaming is probably declining because they charge for everything else now!
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