Las Vegas' long weekend is over... But that's not the end of the line for an industry that has bright days ahead.

Perhaps never more than now, Las Vegas gaming is run by people that are extremely competent and can weather the storm. These companies are mostly well capitalized with good banking relationships, even if they may have to adjust projections that were made in better times.

They are often diversified - granted some more than others - but even if we were to see something like a major Chapter 11 bankruptcy, the great midway that is the Las Vegas Strip is going nowhere.

People always need a place to forget their troubles and relax, in good times and bad. No one is better at that than Las Vegas. The electricity that draws me and so many others to come again and again cannot be shut off - it's part of the American psyche. Yes, we'll see a 'correction'. The seemingly endless acceleration of quality, luxury and prices will slow even more or even be put on pause. That's okay and consumers will welcome the chance at a bargain. They'll see rates and rooms that could have been priced much higher only months before and when things swing back the other way, they'll have tasted the best Vegas has to offer and want more.

Those that believe in Las Vegas will not stop investing in it. That investment might not be a new multi-billion dollar golf course redevelopment project in the near term but you better believe all that remaining Strip land will be built out in the future - it's inevitable.

Right now, you can get some of the best deals we've ever seen on casino industry equity - yes, the companies are not all in the same spot financially and some are probably better investments than others but I think you can count on nearly all of them to head north of their current trading prices.

Personally, I'm sick of the doom and gloom stories. Let's work on fixing the problems and move on instead of harping on disaster.

I'm betting on Las Vegas.

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My good friend and fellow Vegas Gang-banger Chuck Monster from VegasTripping has been doing a bang up job covering what MGM Mirage has in store for us at City Center.

If you haven't seen these already, be sure to check out the following links:

ARIA:
http://www.vegastripping.com/features/feature.php?feature_id=152&page=1

City Center Tram:
http://www.vegastripping.com/news/news.php?news_id=2326

ARIA Pool:
http://www.vegastripping.com/news/news.php?news_id=2323

VDara Pool Deck:
http://www.vegastripping.com/news/news.php?news_id=2322

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My friend and fellow Vegas Gang member David McKee put up an interesting post yesterday with a few updates on the status of the forced sale of the Tropicana property in Atlantic City.

http://www.lasvegasadvisor.com/blogs/dmckee/index.cfm/2008/10/9/Trop-this

We've talked about Tropicana Resorts several times on the Vegas Gang Podcast but it seems the news never stops... and for those not reading McKee on a regular basis, you're missing out.

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Check out this YouTube video that combines Wynn's Encore renderings with construction photos:

http://www.youtube.com/watch?v=PGpO1Zlchis

Huge thanks to Mike E for tracking this down.

Also, this piece in the Sun on Encore:
http://www.lasvegassun.com/blogs/gaming/2008/oct/09/wynn-encore-will-take-hit-despite-position-strengt/

Wynn talks about hoping to open on December 22nd if he can get temporary occupancy before that. In the past they haven't seemed as worried about getting that occupancy certificate so why this time?

The piece also talks about opening a couple of hundred rooms per day so I guess we have confirmation of the first Wynn soft opening, at least when it comes to planning.

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The LVRJ is reporting that the Wynn Las Vegas dealers that sued to remove the tip sharing program have lost their appeal:

http://www.lvrj.com/news/breaking_news/30691889.html

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My friend Steve Friess has a note on his blog about the outcome of the Elad vs. Tamares case over naming use rights for "The Plaza" for a future resort on the Las Vegas Strip.

http://thestrippodcast.blogspot.com/2008/10/breaking-ny-plaza-wins-can-use-plaza.html

Give it a look. Also, Vegas Gang member Dave Schwartz was an expert witness in the case - expect us to touch on this in the next 'Gang episode.

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Two quick unrelated items:

* EatingLV.com has a tidbit about "Switch", one of the new restaurants at Encore. Supposedly it will feature an internal environment that does just that - switches mid-way through the evening.

* Looks like Cher is having some health issues that will force her to cancel shows this year, which will no doubt hurt Caesars Palace.

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Interesting article in the LV Weekly talking about the economic situation and it's impact on Las Vegas nightlife - we may see a swing to a more customer hospitable Saturday night.

http://www.lvweekly.com/news/2008/oct/02/carousing-crisis-clubbing-buyers-or-sellers-market/

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Thanks to donnymac for pointing this out - a site with a bunch of renderings that I haven't seen, at least not all of them:

http://activerain.com/blogsview/702919/34-brand-new-renderings

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Once again, another StripWalk from MikeCh, this time covering South Strip properties (and a trip to the Hard Rock).

Continue after the jump to read the details, photos are here:
http://www.ratevegas.com/photo/gallery/september2008

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First seen on Twitter, the Las Vegas Sun now has a story about a robbery today at the Las Vegas Hilton.

http://www.lasvegassun.com/news/2008/sep/26/las-vegas-hilton-sports-book-robbed/?latest

Don't know about Twitter? You can follow us: Twitter.com / RateVegas or me: Twitter.com / Hunter

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George (Drambuieman) is back with another great report on Macau. Some info on CotaiJet, Ponte 16 and more.

Click through to read and be sure to check out the photos:

http://www.ratevegas.com/photo/gallery/drambuieman

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Vegas Gang #17 is online here: http://www.vegasgangpodcast.com

This time around we cover:

* Economic Update
* Kansas Update
* Strip Clubs in Strip Resorts?
* Mega-Resort Designs of the Future?
* ARIA Update

Feel free to leave your comments below.

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MGM Mirage has started to leak the info on the restaurants that will be built inside ARIA, the main resort at City Center.

Two takes on the line-up, which is heavy on big names and maybe a couple of great restaurants:

http://thestrippodcast.blogspot.com/2008/09/aria-sings-food-glorious-food.html

http://www.eatinglv.com/2008/09/aria-announces-celebrity-chef-lineup/

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Thanks to our friend George (Drambuie-man), we have a report on the construction of the Marina Bay Sands, the Las Vegas Sands project in Singapore.

Photos are here:
http://www.ratevegas.com/photo/gallery/marinabaysands

Continue after the jump to read more...

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Thanks to reader Josh for pointing this out.

The LA Times has an article about tech at City Center's main hotel, Aria. The article includes a room mockup photo:

http://farm4.static.flickr.com/3029/2848186661_9c330d983f_m.jpg

The full article:
http://travel.latimes.com/daily-deal-blog/index.php/tech-leads-the-way-a-2733/

Update: This MGM Mirage press release has more info on all the tech going into the room. Some of it sounds pretty cool, though I hope the Internet speed is a bit higher than 128kb that they indicate in the release.

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A nice piece in the Sun about the guys that developed the Eastside Cannery and Cannery Resorts.

http://www.lasvegassun.com/news/2008/sep/13/cannery-partners-did-it-their-way/

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The Mirage Volcano, a fixture on the Las Vegas Strip for almost 20 years, is being re-launched.

MGM Mirage teamed with WET Design (Fountains of Bellagio) to re-create the iconic front-feature.

http://www.prnewswire.com/mnr/mgm/34865/

WET brought in Grateful Dead drummer Mickey Hart and Indian tabla sensation Zakir Hussain to create the audio for the new volcano.

More info here:
http://www.mirage.com/attractions/volcano.aspx

Scheduled to be unveiled later this year, we have a bunch of photos of the construction progress here:
http://www.ratevegas.com/photo/gallery/mirage

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It seems that the embattled Cosmopolitan Hotel project on the Strip has found a buyer after the bank foreclosed on the original developer.

http://www.lasvegassun.com/news/2008/sep/04/buyout-keeps-cosmopolitan-play/

Thanks to Mark D for pointing this out.

Also, some coverage in the RJ:

http://www.lvrj.com/business/27848684.html

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My friend Steve Friess wrote the other day about the closing of the 40/40 Club at Palazzo. Steve is a curious and thoughtful guy who isn't scared about political correctness when he writes - that's part of what makes him a great reporter.

Well, it seems some people took what he wrote the wrong way:

http://www.lasvegassun.com/blogs/gaming/2008/aug/29/nevada-black-leaders-upset-blog/

As someone that knows Steve a little bit, I can say with certainty that he was just positing a question - something for discussion (I suggest you read the comments on his story). That's what he does - he fosters discussion. If we can't talk about this stuff, we'll never make any progress.

Update: Steve has posted an update here: http://thestrippodcast.blogspot.com/2008/08/of-chicken-wings-and-irresponsibility.html

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The next step for Las Vegas Sands' 'Cotai Strip' is the Four Seaons, opening next to the Venetian Macao (or Macau for any non LVS folks). Well, the opening has arrived:

http://cotaicasinonews.com/2008/08/28/four-seasons-hotel-macao-2/

This also includes the Cirque show, 'Zaia', opening at The Venetian Macau. Cotai Strip development may slow as credit markets tighten but things are now rolling with the inventory of rooms starting to build.

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As Chuck at VegasTripping.com notes, the Eastside Cannery opens tonight.

I don't have this hotel in the RV or Vegas Mate databases yet and it brings me back to a question I've been asking myself for some time - should I remove a lot of the 'locals' joints from RateVegas and Vegas Mate?

Those pages get far less traffic than Strip and even Downtown properties and having them there means more upkeep and more data to clutter navigation. Is it worth it?

I'm sure I'd keep places like GVR and Red Rock and of course The Palms, Rio and other near-Strip joints. I'm talking about nixing the Fiesta, Texas Station, etc... If I'm going to do it, now is the time, especially for the iPhone app. Thoughts?

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Mike Ch is back yet again - this time with a boots on the ground report from Planet Hollywood.

Our man on the scene braved the Palace of Earl to bring back some first hand intel.

As always, photos are here:
http://www.ratevegas.com/photo/gallery/august2008

Also, he linked up some photos in his post as well. Enjoy after the jump.

As an aside, I'm well aware of how bad the photo gallery sucks. I've not had the time to do much about it but I actually think that might change in the near future. Stay tuned.

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Word comes this morning that the 40/40 Club at The Palazzo is closing. This has been long rumored and many have doubted the place was doing very well.

In other Palazzo news, Lavo, the club from the creators of Tao, has opened. Lavo is notable because it is the center of ongoing litigation between the operators and Las Vegas Sands.

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Fellow podcaster David McKee keeps us updated on the Kansas gaming process here at Stiffs and Georges:

http://www.lasvegasadvisor.com/blogs/dmckee/index.cfm/2008/8/22/Kansas-Round-1-Its-Harrahs-Penn

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Mike Ch is back with another Strip Walk.

This time he hits both ends of the Strip with Luxor, Echelon, Encore, City Center and more.

Photos are here: http://www.ratevegas.com/photo/gallery/august2008

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A very interesting story from the LV Sun that covers how the timing of reporting can skew gaming win figures:

http://www.lasvegassun.com/blogs/gaming/2008/aug/11/timing-gaming-earnings-can-skew-numbers/

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Regular reader Jeff from OKC wrote in to describe what seems to be a dwindling number of hotel and airfare packages available from the mid-west to Las Vegas.

Is this happening in other areas and how severe is it? As smaller carriers shut down or cut back on flights, how is that impacting the flow of people into Las Vegas in a time when it needs more visitors, not less? These are often subsidized, at least in part, by gaming companies - are these subsidies drying up?

As Jeff said, it seems like the worst time for it to be harder to get to town.

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The RJ posted a story in which they confirmed tips they had been sent regarding City Center construction workers having alcohol before they entered the job site.

http://www.lvrj.com/news/26371359.html

Perini, the site's main contractor, has a zero tolerance policy regarding alcohol and drugs.

Construction safety has been highlighted at City Center due to the number of construction deaths since the project began.

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Another development in the saga of the Tropicana and Columbia Sussex. This time, the Nevada Gaming Control Board has recommended that the Las Vegas Strip casino be taken over by an unlicensed group of trustees as it progresses through bankruptcy.

http://www.lasvegassun.com/news/2008/aug/06/unlicensed-board-clears-hurdle-control-tropicana/

What's interesting is that they are not licensed employees and that they say that CoSux head Bill Yung is no longer part of the decision making process.

This decision, as well as the recent stoppage at Echelon and other Las Vegas issues will be topics on tomorrow's Vegas Gang.

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Here's a story from the Sun on today's reporting from MGM Mirage on their second quarter:

http://www.lasvegassun.com/news/2008/aug/05/mgm-2q-profit-drops-69-percent/

Some properties, such as Bellagio, didn't do as poorly as some might have guessed. Executives seemed bullish on the future.

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The New York Times has a long story on Steve Wynn, Las Vegas and gaming in Sunday's paper. It doesn't break new ground for anyone familiar with Wynn or the industry, but it's interesting. The highlight for me was reading that Steve is irritated by the sound of rushing wind in the elevator shafts. The writer must not be familiar with the old DI. She makes it sound like Steve Wynn bought the homes around the property in order to build a golf course. Yes, he did, but the DI always had a golf course.
Read the story here:
The Chips Are Down in Vegas, but Steve Wynn Is Betting Big

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This was rumored the past few days. It's too bad for Las Vegas and the North Strip. I hope they can resume construction in a year or so. BYD's Conference Call is at Noon today, so we'll get more information then.

NEW YORK, Aug 1 (Reuters) - Casino operator Boyd Gaming Corp (BYD.N: Quote, Profile, Research, Stock Buzz) said on Friday it has decided to delay construction of its new Las Vegas Strip casino called Echelon and suspended quarterly dividends.

The company also posted lower second-quarter profit as the U.S. economic slowdown reduced gambling revenue.

The company also said it has decided to delay the construction of Echelon due to the challenging economic environment. It plans to resume construction in three or four quarters, assuming credit market conditions and economic outlook improves.
Boyd Delays Echelon

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Despite a softening Las Vegas market, Wynn Resorts pulled through with some strong company-wide numbers.

According to the Company: "Net revenues for the second quarter of 2008 were $825.2 million, compared to $687.5 million in the second quarter of 2007. The revenue increase was driven primarily by a 50.3% increase in revenues at Wynn Macau."

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1179096&highlight=

I'll have to listen to the conference call later - if there's anything good in there, I'll update the post.

Update: Listening to the call now - as Jeff indicates below, classic Wynn on display in the call. Lots of fun to listen to as he takes jabs at various parties - and he has the numbers to back him.

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Here's a KLAS interview with Steve Wynn covering the Encore hiring, his take on City Center, Encore itself and more...

http://www.lasvegasnow.com/global/video/popup/pop_playerLaunch.asp?vt1=v&clipFormat=flv&clipId1=2719390&at1=News&h1=WEB%20EXTRA:%20Steve%20Wynn%20on%20Hotels,%20Jobs

Thanks to Chuck at VT for pointing this out.

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Today's Wall Street Journal (subscription required) has a great article on Sam Nazarian, new owner of The Sahara.

He wants to provide a superior experience, even for guests priced out of the market by the swing to luxury offerings - he plans rooms at about $200 a night. That doesn't mean implosion - he wants to work with the canvas he has, while adding to it and improving it.

It's a great read, check it out.

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This week's Zoning meetings:

LVS is asking for a time extension on its approval to build a new Convention Center. The Agenda item says LVS is in the process of obtaining permits, but could the economy be a reason?
Las Vegas Sands Convention Center

Wynn has requested a deviation for Encore's signage:
Encore's Signage

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The show is up:
http://www.vegasgangpodcast.com

This time we feature:

* Wynn Hires Tim and Tim / Wynn Early Financials
* Nevada and Illinois Post Bad Numbers
* Tropicana E.Coli Outbreak
* Don Barden / Pittsburgh
* MGM Mirage / Wynn Resorts Market Cap

Comments welcome below.

Don't forget the Podcast-a-palooza:
http://www.vegasgangpodcast.com/2008/07/vegas-gang-podcast-live-august-16th-vegas-podcast-a-palooza/

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My friend Steve Friess posted a story on his blog about a supposed "hack" at MGMGrand.com that supposedly offered illegitimate low rates to customers.

Based on the email that went out afterwords, MGM Grand handed this poorly.

Also, I agree with Steve - based on all I know from years of building Web applications for e-commerce, this sounds like BS to me... If it is true, they were likely penetrated extremely deeply, which would be even worse. Just own the mistake and honor the rates already!

http://thestrippodcast.blogspot.com/2008/07/was-mgmgrandcom-hacked.html

Updated: Steve has more details - not a 'hack' - just a promotion that was used by those it was not intended to be offered to. Still, maybe not the best handling?
http://thestrippodcast.blogspot.com/2008/07/mgmgrandcom-not-hacked-but.html

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Just saw this fly across the wire - Wynn Resorts has announced preliminary 2nd Quarter results:

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1173860&highlight=

Operating income at Wynn Las Vegas is expected to be $18-22 million, down from $63.4 million last year. Wow, big drop. Looks like they are blaming it on lower hold percentages, lower ADR, and lower occupancy.

On the other end, Wynn Macau did much better than last year it seems with operating income almost doubling to $100 million or so.

The company also announced they will be buying back more shares.

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Mike's returning with a new Strip Walk. This time we see Fontainebleau, Encore, Echelon, City Center, Luxor and more.

Keep reading after the jump and check out his photos:
http://www.ratevegas.com/photo/gallery/stripwalk

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A surprising bit of news this morning.

"LAS VEGAS, July 2 /PRNewswire-FirstCall/ -- Tim Poster and Tom Breitling will be joining Wynn Resorts (Nasdaq: WYNN - News) subsidiary Wynn Las Vegas as Sr. Vice Presidents of Strategy and Development."

http://biz.yahoo.com/prnews/080702/law516.html?.v=14

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Vegas Gang #11 is online here: http://www.vegasgangpodcast.com

This time we feature:

* Encore at Wynn Las Vegas Opening
* Cosmopolitan Sued Over Its Name
* MGM Mirage Using Social Networking
* Harrah's Pays Debt With Debt
* Adelson Profiled in New Yorker

Feel free to add comments below...

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My good friend and fellow 'Gang Member', ("yeah, I'm in a gang") Chuck has posted a bunch of new Encore construction photos:

http://www.vegastripping.com/news/news.php?news_id=2144

Enjoy!

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Thanks to fellow Vegas Gang member Jeff Simpson for this link... Looks like the New Yorker has done a profile on everyone's favorite casino overlord, Sheldon Adelson of Las Vegas Sands. Check it out below. Also, props to Jeff for the mention!

http://www.newyorker.com/reporting/2008/06/30/080630fa_fact_bruck

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Well, it looks like things have gotten just a little bit worse for the Cosmopolitan:

http://www.lvrj.com/business/20625604.html

Hearst says they own the name. Ouch.

How about a little due diligence when you start a project, huh?

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I just read this article from fellow VegasGang podcast member Dave Schwartz and I really enjoyed it. I think he's 100% correct.

The economics of Las Vegas have fundamentally changed (for the better) and a new 'cheapo-era' is NOT the answer to dealing with a (hopefully) short term problem.

http://www.lvbusinesspress.com/articles/2008/06/18/opinion/columnists/schwartz/iq_22082752.txt

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Vegas Gang #10 is up - http://www.vegasgangpodcast.com

This episode focuses on the CityCenter walkout and the economy vs. Las Vegas. We cover a few stories on the specifics, including an entry suggesting that LVS is heading for Chapter 11. That may be an extreme outcome but its an interesting discussion point.

Also, a little bit on the iPhone and its impact on Las Vegas.

Enjoy the show and feel free to post your comments here.

UPDATE: Stiffs and George's has a story about Palazzo's underwhelming performance: http://www.lasvegasadvisor.com/blogs/dmckee/index.cfm/2008/6/13/Oops-he-did-it-again

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The Las Vegas Sun is reporting on a workers strike at City Center, MGM Mirage's large development on the Las Vegas Strip.

Due to a rash of construction deaths, the workers are demanding increased safety provisions be made before work will start again.

http://www.lasvegassun.com/news/2008/jun/03/workers-walk-citycenter-site-protest/

Update: It's possible that work will re-start again soon - it appears Perini and the trades had a positive meeting.

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All you readers probably realize that the 'parent' of this blog is our ratings site, RateVegas.com. We allow readers to rate and review hundreds of Las Vegas hotels, restaurants, nightclubs and more. It's been running since 1999 and has a huge database of worthwhile data.

Over the years, I've added several features designed to protect against malicious uses of an open system - I was getting a ton of submissions that were nothing but spam links to gambling sites. I track the IP address of each submission for the purposes of comparison (no personal info is tracked or stored unless you submit your email address).

Well, over the past few months I've noticed quite a few glowing reviews for Tao Nightclub at The Venetian. At first they looked legit but the wording from week to week was QUITE similar. I checked and of course they are all coming from the same IP - one that is registered to Cox Communications in Las Vegas, NV, the region's cable modem provider.

So, it appears that Tao, or someone working for them, is attempting to defraud the public with fake reviews posted through my service. I assume they're doing this elsewhere as well.

I mention this just because it is interesting. I'll do nothing more but delete the incoming fake reviews and continue on my day.

Any other site operators notice anything like this? Fake comments? Planted submissions? Are Vegas casinos, clubs and PR operations *finally* getting smarter about using the 'Net?

Also, a note to Vegas businesses that want to get their word out - I'm happy to listen to your pitch and I love sharing interesting stories and info with my readers. Just don't try to come in the back door.

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The rumor floating around today is that The Related Cos has purchased/taken over the Cosmopolitan project on the Las Vegas Strip and it will be an outpost of the 'W' hotel chain. Time will tell...

http://www.lasvegasadvisor.com/whatsnews.cfm

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Looks like Richard Suen, the Chinese businessman that supposedly helped Las Vegas Sands setup their contacts in Macau will get a pay day after all.

A Las Vegas jury awarded him $43 million in damages. The company will appeal.

http://www.lvrj.com/news/19245874.html

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This is good news that Tableau's Mark LoRusso will definitely move to Encore, and it looks like Tableau's space will remain a restaurant instead of becoming another club.

"Steve Wynn has lured another star chef to Wynn Las Vegas. Larry Forgione, a pioneering chef from New York, will move An American Place into the Tableau space this winter, when Mark LoRusso opens a restaurant at Encore, the new luxury suite hotel at Wynn Las Vegas. "Larry Forgione was one of the first chefs to focus exclusively on American ingredients and cuisine," Wynn said. "His vision and commitment to sustainability paved the way for many of today's chefs." ..."
Norm Column in the RJ: Norm

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As speculated, the name 'ARIA' is official.

MGM Mirage's press release had a bit more info than I've seen published elsewhere. I don't usually just publish these things but I think this is of interest so continue reading after the jump.

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Vegas Gang Podcast #8 has been posted:

http://www.vegasgangpodcast.com

Comments can be posted here on this site, below.

Our guest is Steve Friess and we cover his book, 'Gay Vegas' as well as Las Vegas marketing, MGM Mirage splitting up, casino cheating and more.

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My good friend Chuck at VegasTripping.com is just back from Las Vegas and wrote up a little report about the transition at Luxor:

http://www.vegastripping.com/features/feature.php?feature_id=139&page=1

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Yes, we're back (and better than ever?).

Anyway, the episode is posted here: http://www.vegasgangpodcast.com

Comment away!

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MGM's 1st Quarter Conference Call transcript is available:
MGM Transcript

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It looks like the 'chickens are coming home to roost' for Tropicana Entertainment - in our pre-call bater for Vegas Gang, Jeff Simpson tipped us off to this story.

Thanks to Chuck for the link.

http://ap.google.com/article/ALeqM5jCaSMpwrAzEulgNBAe6Lj0iiHrfQD90FOA480

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Shadow Creek, MGM Mirage's fabulous golf course located in North Las Vegas, will close for a few months for an extensive renovation.

The press release is after the jump but basically it says that it will close until December while original architect Tom Fazio looks over the changes.

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Thanks to globalcasinoboom.com for this interesting story that talks about Wynn Resorts potentially managing or consulting on a casino from Arusze in the Philippines.

http://globalcasinoboom.com/casinos/philippines-wynn-may-manage-aruzes-25-billion-manila-bay-casino/

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Yes, the property formerly known as 'Wynn Diamond Suites' has been renamed 'Encore at Wynn Macau'.

Thanks to VegasTripping for the tip and also a photo of construction:

Encore at Wynn Macau
Encore at Wynn Macau Construction Photo