Real quick as I am jumping on an airplane (not to Vegas), but today's RJ has a story on MGM MIRAGE starting to get approvals for a condo-tel complex on Luxor property that will look like Mandalay Bay style architecture:
Technorati Tags: condos, gaming industry, las vegas, mandalay bay, mgm mirage
Categories: Business of Gaming, Las Vegas Strip, MGM Resorts International
Dumbest name ever...
All of MGM's changes to the Luxor, Hairspray aside, have been helpful to the place. So far it's mostly just image, we'll see what happens when the stuff that replaces RA opens to make final judgment. Excalibur has been seeing a little but not much change (mostly in it's marketing) and if rates at these hotels don't go up in response to these changes, the properties will come out better for it.
But golly, they just don't know what to do with Mandalay Bay, do they? Remodeling the Rumjungle was a good start, but everything else not so much. They seem to see the place as a clone of MGM Grand and applying the same formula at both places. There's a lot of subtle changes going around, from uniforms and staffing, and now this not-so-subtle change, that seems to imply they'll just treat the place as MGM 2. One could say that the only nice thing they've done is get rid of the security guard at the tram desk and let people ride all the way out to the Tropicana hub.
Shame, because MBay was one of my favorite hotels five years ago. I know this blog trashed it for not being Bellagio, but Bellagio always seemed more concerned with being pretentious/exclusive than sexy.
Good, more people that have a place to stay, but no place to play. They can drop money in our casinos, and we'll reep the benifits! I love it!!!
First, word is that Luxor is getting a complete revamp. The name will stay, but all Egyptian themes will be gone.
Second, word is that MGM has filed property development plans with the county to bring down Excalibur sometime in the future.
MB has always had potential, just needed some big $$ to reach it. Start with rooms and the main casino space...tone down the south seas theme just a bit.
I hope Excalibar doesnt become another bland modern resort, if it actually gets torn down.I never liked Excalibar or Luxor but they were symbols of Las Vegas, they showed the uniqueness of LV.
I guess I'm starting to real dislike what MGM is doing to their resorts...I wonder what they will replace the Egyptian theme with...hope they dont go modern again.
Modern is almost a guarantee with MGM, I mean, look what they have done to Mirage, TI, and, to a lesser extent, Bellagio. You can probably expect more of the same. Excalibur will most likely be replaced with MGM Grand Resorts equivelant to Mirage Resorts' City Center hotel. So, expect, something a hotel that will be a little more expensive than MGM, but less than Bellagio. I would expect something like THE Hotel, but on a larger scale (and not quite as dark), but that is just what I expect MGM to do to all of their properties. I've come to realize that MGM cares about the numbers, not the resort. Although, I wouldn't expect to say goodbye to Excalibur for, maybe, two or three years.
That is just my .02 cents, though.
Charlie, thanks for the news about the Luxor, where did you hear it was being dethemed? The Luxor needs an upgrade, but I really dont like the way MGM completely change these places, Luxor is an icon of Las Vegas.
Does anyone else feel that soon all MGM properties will be clones, ie Bland and modern, no need to go and visit them, because they will have nothing that stands out?
Would they not be more likely to replace Circus Circus before Excalibar?
"Does anyone else feel that soon all MGM properties will be clones, ie Bland and modern, no need to go and visit them, because they will have nothing that stands out?"
Yes & yes... MGM buying the properties from Wynn and setting there "design team" (??) free is the worse thing that has happened to the town in a long time..IMO.
Yes, MGM properties are becoming clones, but MGM Mirage is an excellent operator. On the Conference Call, Lanni said MGM had the three highest EBITDA properties on the Strip in Q2: Bellagio, MGM Grand and Mandalay Bay with a combined total of $280 million.
Mandalay Bay room occupancy has gone up from 90.9% to 95.7%, and slot win had double digit growth. Luxor's occupancy is up to 98.3%.
I used to get one promotional mailing about shows or concerts, from Bellagio. I now get offers for the same events from Bellagio, The Mirage, TI, MGM Grand and Mandalay Bay. Strangely, I never receive any mail from Luxor.
Regarding Circus, I bet they'll leave it alone until the north Strip has more new properties like Echelon and the Riviera is sold or rebuilt.
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