Quote:The first casinos on the Las Vegas strip will reopen June 4. As with several other tourist attractions across the country, however, these establishments will only be partially reopening and offering limited amenities.
According to MGM Resorts International, three of the company’s Las Vegas casinos will reopen for the beginning of June: the Bellagio, New York-New York and MGM Grand Las Vegas.
The casinos will utilize a seven-point safety plan to maintain guest health and safety. This will include health screenings for employees, requiring workers to wear masks (guests will be encouraged to wear them but not required), using floor guides to promote physical distancing, providing additional hand-washing stations, providing guests with contactless check-in at resorts and digital menus at restaurants. Valet parking will not be available to guests upon reopening.
While the casinos and resorts will have limited amenities, the fountains at the Bellagio will be up and running.
Also on June 4th, Caesars Palace and The Flamingo will also reopen, Fox 5 Vegas reports. The casinos will reportedly offer games, lodging and restaurants and retail and dining outlets along the LINQ Promenade will also reopen.
Went to two casinos on the Coast Sunday. No big deal. They just put slots back to back. Tables and bars were packed. I saw no big difference. Carry on.
(05-27-2020 06:34 PM)GoodOwl Wrote: [ -> ]the golden years...when steaks were 99 cents, traffic was manageable and the mob kept people in line...
That's why I like Fremont Street, it still had that old school feel to it. I wonder how they will fare with these adjustments. I hope it doesn't kill it.
(05-27-2020 06:34 PM)GoodOwl Wrote: [ -> ]the golden years...when steaks were 99 cents, traffic was manageable and the mob kept people in line...
That's why I like Fremont Street, it still had that old school feel to it. I wonder how they will fare with these adjustments. I hope it doesn't kill it.
I remember going with my parents back in the 70s. Food and drinks were dirt cheap. It was a loss leader to keep people in the casino. Now they are a profit center. Went there last summer. Prices weren't New York or LA level, but they were definitely higher on the strip than Atlanta
Quote:The real estate unit of Koch Industries is buying a long-stalled resort and casino on the Las Vegas Strip, betting on a rebound in a city hit hard by a plunge in tourism during the Covid-19 pandemic.
The company is partnering with Fontainebleau Development, an early developer of the property before the project went bankrupt during the financial crisis. Financial terms weren’t disclosed.
The company didn’t give further plans for the property, which is 75% complete, according to the statement. The site at 2777 S. Las Vegas Blvd. was most recently part of a $3.1 billion three-hotel project called the Drew, led by real estate mogul Steven Witkoff. He bought the property in 2017 for $600 million from Carl Icahn, who had acquired it out of bankruptcy.
Quote:The real estate unit of Koch Industries is buying a long-stalled resort and casino on the Las Vegas Strip, betting on a rebound in a city hit hard by a plunge in tourism during the Covid-19 pandemic.
The company is partnering with Fontainebleau Development, an early developer of the property before the project went bankrupt during the financial crisis. Financial terms weren’t disclosed.
The company didn’t give further plans for the property, which is 75% complete, according to the statement. The site at 2777 S. Las Vegas Blvd. was most recently part of a $3.1 billion three-hotel project called the Drew, led by real estate mogul Steven Witkoff. He bought the property in 2017 for $600 million from Carl Icahn, who had acquired it out of bankruptcy.
Big gamble imo. I was a part of group of 20 that made an annual trip around this time for years. We stopped a couple of years ago because of the "lack of fun". We used to go and drop a $1500 or so apiece over a 3 day trip. Drinks were free and there were 5 and10 dollar tables everywhere. Not any more. $1000 of fun goes very fast now and they lean on you for everything including the drinks. Comps are not as easy to get as in the past and rewards have been clipped. Basically... Vegas built all these fancy casinos messed it up for the casual gambler in order to pay for the infrastructure. Im wondering who is going to fill those 3000+ rooms.
I spent five years there working in the gaming industry.
I still have friends there working on gaming computer systems. They are in COVID fear mode still. Most of the staff works from home with a rotation to bring people in a week at a time or so. They started bringing people into the office and then all the upper management tested positive. It's a company paralyzed with COVID fear. From what I gather, much of the town is like that.
Compared to rural Tennessee it is a different planet.
The change in business models is real. Everything is corporate now. When you have shareholders watching, everything becomes a profit center.
The Food Network and other cooking shows has created a cash cow of restaurants with celebrity chef banners. The trends toward upscale bourbons and liquors have created a new market there. Slot players are mostly all older women, but slots still bring in more money than low minimum tables. Men able to afford high minimum tables don't care about the low end comps that used to be everyday offers. The girls are outside the casinos revenue stream.
Yeah. It's changed. That's why you have NHL and NFL coming in. In the past those were things that would take people away from the casino floor. Now they are a way to fill hotel rooms and restaurants. The casino take from those visitors will be minimal on a dollar-per-guest evaluation. But, the money made bringing in the junket players for those events will be considerable. Again, those kind of comps are not going to reach down to the average tourists.
Summary - The average Joe will pay enough for everything but stock liquor that the casino turns a profit on everything sold. The oversupply of hotel rooms should make free lodging offers fairly widespread. If air travel continues to suffer, there will be more offers with airfare included. Everything else will be pay as you go either by pocket or gambling time.
Quote:The real estate unit of Koch Industries is buying a long-stalled resort and casino on the Las Vegas Strip, betting on a rebound in a city hit hard by a plunge in tourism during the Covid-19 pandemic.
The company is partnering with Fontainebleau Development, an early developer of the property before the project went bankrupt during the financial crisis. Financial terms weren’t disclosed.
The company didn’t give further plans for the property, which is 75% complete, according to the statement. The site at 2777 S. Las Vegas Blvd. was most recently part of a $3.1 billion three-hotel project called the Drew, led by real estate mogul Steven Witkoff. He bought the property in 2017 for $600 million from Carl Icahn, who had acquired it out of bankruptcy.
Big gamble imo. I was a part of group of 20 that made an annual trip around this time for years. We stopped a couple of years ago because of the "lack of fun". We used to go and drop a $1500 or so apiece over a 3 day trip. Drinks were free and there were 5 and10 dollar tables everywhere. Not any more. $1000 of fun goes very fast now and they lean on you for everything including the drinks. Comps are not as easy to get as in the past and rewards have been clipped. Basically... Vegas built all these fancy casinos messed it up for the casual gambler in order to pay for the infrastructure. Im wondering who is going to fill those 3000+ rooms.
We spent a night in the summer of 2019 as a stop on a Utah trip. I hadn't been there in nearly 30 years. It used to be that drinks were cheap and food was cheaper. Now, its almost LA prices. Way higher than the prices you have in the middle of the country. Every restaurant is now a profit center instead of a loss leader. They no longer try to make it all on the games. Also had to reserve shows months in advance. At least anything decent.
Quote:The real estate unit of Koch Industries is buying a long-stalled resort and casino on the Las Vegas Strip, betting on a rebound in a city hit hard by a plunge in tourism during the Covid-19 pandemic.
The company is partnering with Fontainebleau Development, an early developer of the property before the project went bankrupt during the financial crisis. Financial terms weren’t disclosed.
The company didn’t give further plans for the property, which is 75% complete, according to the statement. The site at 2777 S. Las Vegas Blvd. was most recently part of a $3.1 billion three-hotel project called the Drew, led by real estate mogul Steven Witkoff. He bought the property in 2017 for $600 million from Carl Icahn, who had acquired it out of bankruptcy.
Big gamble imo. I was a part of group of 20 that made an annual trip around this time for years. We stopped a couple of years ago because of the "lack of fun". We used to go and drop a $1500 or so apiece over a 3 day trip. Drinks were free and there were 5 and10 dollar tables everywhere. Not any more. $1000 of fun goes very fast now and they lean on you for everything including the drinks. Comps are not as easy to get as in the past and rewards have been clipped. Basically... Vegas built all these fancy casinos messed it up for the casual gambler in order to pay for the infrastructure. Im wondering who is going to fill those 3000+ rooms.
Will be interesting to see how demand picks back up? The last time I checked room rates, a few years ago, you could get cheap rooms Sun-Thursday at the B hotels like Treasure Island stuff like that.
Quote:The real estate unit of Koch Industries is buying a long-stalled resort and casino on the Las Vegas Strip, betting on a rebound in a city hit hard by a plunge in tourism during the Covid-19 pandemic.
The company is partnering with Fontainebleau Development, an early developer of the property before the project went bankrupt during the financial crisis. Financial terms weren’t disclosed.
The company didn’t give further plans for the property, which is 75% complete, according to the statement. The site at 2777 S. Las Vegas Blvd. was most recently part of a $3.1 billion three-hotel project called the Drew, led by real estate mogul Steven Witkoff. He bought the property in 2017 for $600 million from Carl Icahn, who had acquired it out of bankruptcy.
Big gamble imo. I was a part of group of 20 that made an annual trip around this time for years. We stopped a couple of years ago because of the "lack of fun". We used to go and drop a $1500 or so apiece over a 3 day trip. Drinks were free and there were 5 and10 dollar tables everywhere. Not any more. $1000 of fun goes very fast now and they lean on you for everything including the drinks. Comps are not as easy to get as in the past and rewards have been clipped. Basically... Vegas built all these fancy casinos messed it up for the casual gambler in order to pay for the infrastructure. Im wondering who is going to fill those 3000+ rooms.
Will be interesting to see how demand picks back up? The last time I checked room rates, a few years ago, you could get cheap rooms Sun-Thursday at the B hotels like Treasure Island stuff like that.
There are still cheap rooms during the week. I never paid a dime for a room at Harrahs when we used to go annually. The amount you have to gamble has jumped up too high for me now to get those comps at anything on the strip now. Im planning on making another trip when the Vid is over as a retirement gift to myself. I expect Im going to have to double my budget for that.
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