Wynn Resorts Q2 Earnings - Wynn Macau Helps Bring in Record Revenues
Posted by Hunter on July 24, 2008
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.
Trump Tower LV Laying Off 20% of Workers
Posted by Hunter on July 24, 2008
KVBC is reporting that Trump Tower in Las Vegas, the condo project from The Donald, is laying off 20% of its workforce.
This comes shortly after an article from Steve Friess where he predicted doom and gloom for the golden clad property.
I stayed there this Spring and while I'm not interested in going back, we had a nice time.
Thanks to Mike for shooting me the story this AM.
Wynn Talks City Center, Encore, Golf Course and More...
Posted by Hunter on July 22, 2008
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.
Palazzo Restaurants Reviewed (Part One)
Posted by Hunter on July 18, 2008
This link made the rounds last week and I didn't post it but I've been enjoying this blog so much, I now feel like I need to share.
If you love Vegas food, this is a site to visit regularly (or subscribe via RSS).
http://www.eatinglv.com/2008/07/the-palazzo-restaurants-part-one
Nazarian Has Big Plans for The Sahara
Posted by Hunter on July 18, 2008
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.
Vegas Gang #12 - July 11th, 2008
Posted by Hunter on July 12, 2008
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/
Will Winslow's Guide to Las Vegas
Posted by Hunter on July 12, 2008
Dave Schwartz, fellow Gang member and Die is Cast blogger has released the latest 'Winslow's Guide'.
If you love Las Vegas, you'll love this guide.
http://www.dieiscast.com/2008/07/11/winslows-11-2008-is-out/
Wynn Resorts Announces Preliminary Second Quarter Results - Yikes?
Posted by Hunter on July 10, 2008
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.
StripWalk July 2008 - Echelon, Encore, City Center, Luxor and More...
Posted by Hunter on July 8, 2008
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
Treasure Island 2008 Review at VegasTripping.com
Posted by Hunter on July 8, 2008
My good friend and fellow Vegas Gang member, Chuck at VegasTripping.com has posted an updated review of Treasure Island.
I used to stay at TI all the time and I used to recommend it as a great value. That was before the hotel went through massive transformations a few years back... The rates have gone up so it's less affordable than it was but there are still some good things about TI. I really like Isla and I am interested to try Social House. Mystere is still a show I recommend all the time.
Anyway, check out Chuck's review:
http://www.vegastripping.com/features/feature.php?feature_id=149&page=1
VegasGang #11 Posted
Posted by Hunter on June 27, 2008
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...
VegasTripping Posts Encore Photo Update
Posted by Hunter on June 25, 2008
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!
The New Yorker Profiles Sheldon Adelson
Posted by Hunter on June 23, 2008
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
A Tiny Bit More on Wynn's Encore...
Posted by Hunter on June 18, 2008
Wynn Resorts started booking rooms at Encore today, for dates from February 6th, 2009 onward. They *may* accept guests before that date but for now, you cannot confirm anything earlier.
A little bit more info on the property:
* Encore will also feature a segmented hotel tower between suites and standard 'resort' rooms. As at Wynn Las Vegas, Encore's 'Tower Suites' will have their own valet, check-in and elevators.
* Encore will feature 5 new fine dining restaurants.
* As we already know, the casino will be bathed in natural light with pool and garden views.
* Encore will feature a new nightclub.
* All suites include wireless Internet access, 42" plasma TVs, and large bathroom TVs.
* The standard Encore room will feature L shaped couches in the sitting area. The standard room size is 700 square feet.
* They are also offering Parlor and Salon suites.
As we have previously heard, while Encore is described as an all-suite hotel, the standard room offering will be a segmented single room, featuring an innovative partition system.
I thought it was interesting to hear them describe Encore as a "new signature resort from the Wynn Collection". This is clearly in their script as two different reservationists gave me that line.
UPDATED: A Soft Opening for 'Encore at Wynn Las Vegas'?
Posted by Hunter on June 16, 2008
I had heard from several sources that while reservations for Encore at Wynn Las Vegas open up this Wednesday, they would not be taking bookings for arrivals before February 6th, 2009 (Super Bowl weekend).
Well, this seemed a bit strange... I checked into it myself and it is true that you cannot reserve rooms before early February. I guess it's possible the first two months are for invite only players but I find this hard to believe.
I'm still told Encore's casino should open in December - what does this mean? A soft opening for Steve Wynn, the king of the hardest of hard openings who is on record disparaging the soft opening at The Venetian and Palazzo? I'm personally pretty shocked if this is the case.
I've heard some rumors as to why - leading me to believe they may have had no choice - but nothing I've been able to confirm.
This is developing... Still plenty of time for things to change.
Update: Fellow Vegas Gang Podcast contributor Jeff Simpson contacted Wynn Resorts for comment and, unlike myself, was actually able to get a response. Wynn and Co. are saying they plan to open in December as originally planned and they're just being super-extra-cautious by not allowing normal reservations until February. Maybe that's all there is to it. Wynn Resorts - I'm happy to be a 'witness' at the official opening. :-)
The Mirage, June 8-11.
Posted by Mike E on June 15, 2008
I took my parents for a three-night getaway at The Mirage as a combined Mother's and Father's Day gift. This trip was ultra-mellow by my standards but just as memorable as any other. Rather than the usual play-by-play, I've broken the report down in sections. Feel free to skip around to parts that interest you.
(More after the jump)
MGM Mirage Using Social Nets Twitter and Facebook
Posted by Hunter on June 13, 2008
Well, it was just a matter of when and who - Las Vegas casino operators using social networking technologies to promote their wares.
Actually, some of their affiliates, such as the Light Group, have been using these tools for some time... but now the big kahuna, MGM Mirage, is getting into the act through a new site called the Vegas Concierge.
The new Web presence uses Facebook and Twitter to push short bursts of info to users. I expect every other operator to follow at some point.
For those not already aware, we have a Twitter account for this site and I also have one of my own.
Vegas Gang #10 - Economic Woes to Bankrupt LVS?
Posted by Hunter on June 13, 2008
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
UPDATED: Workers Strike at City Center, MGM Mirage Shares Fall
Posted by Hunter on June 3, 2008
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.
Tao Nightclub Attempts Ballot Box Stuffing
Posted by Hunter on June 1, 2008
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.
Vegas Gang #9 - "Wynn + Harrah's = Good Times?"
Posted by Hunter on May 30, 2008
The latest episode is live - check out our discussions here:
http://www.vegasgangpodcast.com
Comments welcome below...
Cosmopolitan Las Vegas to Become 'W Las Vegas'?
Posted by Hunter on May 29, 2008
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
Details on "ARIA" - City Center's Anchor Hotel
Posted by Hunter on May 19, 2008
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.
Vegas Gang #8 Posted - "Gay Vegas" + Marketing to Specific Communities
Posted by Hunter on May 16, 2008
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.
LV Sun: City Center Will Open in Stages
Posted by Hunter on May 16, 2008
Despite the original plan to open everything in November of 2009, it seems MGM Mirage is now planning to open the complex in stages, starting August 2009 with the first condo tower and going through December 15, 2009 when the main hotel opens.
http://www.lasvegassun.com/blogs/gaming/2008/may/16/citycenter-will-not-all-open-once-after-all
NOTE: They refer to the main hotel as 'Aria'. It's my understanding this name was scrapped. Also, unrelated - new Vegas Gang going up tonight.
Update: People on the Internets seem to think this name is correct. We'll see I guess. I don't really like the name, FWIW.
Luxor : Lost In Transition - VegasTripping.com
Posted by Hunter on May 14, 2008
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
Vegas Gang #7 Published - Tropicana, WYNN, LVS and More...
Posted by Hunter on May 7, 2008
Yes, we're back (and better than ever?).
Anyway, the episode is posted here: http://www.vegasgangpodcast.com
Comment away!
Tropicana Entertainment to File for Chapter 11
Posted by Hunter on May 5, 2008
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
Restaurants: Cut (Palazzo), Nove (The Palms), Table 10 (Palazzo)
Posted by Hunter on May 2, 2008
This past week I was able to try a few new restaurants and so I have some brief comments on what I thought. To give some background on my tastes, I'm a pretty simple eater into traditional restaurants and while I do like to splurge when I can, my day-to-day tastes are basic.
Cut (Steakhouse) at The Palazzo - Cut is a new restaurant from Wolfgang Puck, located at The Palazzo in the atrium that connects to The Venetian. We were seated right on time for our reservation and overall service throughout the meal was excellent. They offer quite a few variations on the beef - both American and Japanese and many sub-variants. They're good at explaining the relative merits, as well as suggesting sauce pairings and other dishes. My New York from Nebraska was basically prepared perfectly. I also had some mashed potatoes that were addictive as hell and finished with a killer take on banana cream pie. I easily recommend Cut to anyone looking for a good steak, though Delmonico down the hall still has an edge IMHO.
This is not a good place for vegetarians. Very few alternatives.
One strange thing, common to both Cut and Table 10 - the decor of the restaurant seems several degrees cheaper than what you'd expect based on food, prices and service. Both places felt more like 'mall restaurants' than other high end joints like Delmonico, Carnevino, Prime, etc...
Nove (Italian) at The Palms - I don't make it over to The Palms that often and when I do, it's almost always just to eat. I love Italian food and was looking to try something new so we ended up here.
The restaurant is located near the top of the Fantasy Tower which guarantees a great view of The Strip. We weren't next to the window but you can still easily get a nice look.
The menu has a lot of simple, traditional Italian dishes. We had a pizza and salads to start and I followed with chicken parmigiana. All of the food was really, really good. Incredible mouth watering and addictive.
Service was present but not overbearing and the overall decor and vibe was comfortable and casual. I would come back to Nove pretty much anytime.
I did have a slight altercation with an employee as we were leaving. I may or may not write that up later but he didn't work for the restaurant so no points off for them.
Table 10 (American) at The Palazzo - I've eaten at quite a few of Emeril's restaurants in both Vegas and New Orleans and I've never been disappointed.
Table 10 was another winner - great food. I had jambalaya which was full of chicken and shrimp - tasted great. Also, the 'cheddar beer' soup was awesome. I finished with sorbet that was good but was nothing special.
Service was strong. I spilled water all over the table and they were in there faster than I could snap my fingers cleaning things up.
Regarding decor, see my note above. Sorta a strange trend but unmistakable. The kitchen is open to the dining area so you can watch them work, plus you can see across to Wynn Las Vegas and Encore.
For any of the above restaurants, please feel free to leave questions in the comments and I will try to answer.
Strip Walk April 2008 - Encore, Caesars Palace, NYNY, Luxor
Posted by Hunter on April 22, 2008
Mike_ch is back with the latest Strip Walk. This time we have a look at Encore at Wynn Las Vegas, Caesars Palace, New York New York and Luxor.
Notes after the jump, photos here:
http://www.ratevegas.com/photo/gallery/stripwalk
Wynn Resorts Puts Las Vegas Sands In Cross Hairs
Posted by Hunter on April 22, 2008
On the most recent episode of The Strip Podcast, Steve Wynn talks about his ultimate plans for the golf course - two new hotels for a total of 10,000 rooms (including WLV and Encore) and a 1.5 million square foot convention facility.
Clearly, this would put Wynn Resorts in direct competition with the various other convention centers in town, most specifically Las Vegas Sands and their Sands Expo. No specific timeline was given for the development.
A Stay at Trump International Tower - Las Vegas, NV
Posted by Hunter on April 21, 2008
For my first stay in a condo-hotel, I picked the Trump International Tower, right off the Strip in Las Vegas. This is a short write up of our experience this past weekend.
Continue after the jump for more...
Photos: http://www.ratevegas.com/photo/gallery/trump
Sands on Trial Over Macau Deal
Posted by Hunter on April 17, 2008
I really should have posted this earlier as it is a fascinating story.
It seems a gentleman that allegedly helped Adelson's company get into the Macau market believes he was promised more compensation than he has received (nothing so far).
Well, now he's suing the company in a Nevada court. Should prove a very interesting exercise.
http://www.lasvegassun.com/news/2008/apr/17/trial-outs-sands-dealings-macau/
Danny Gans to Move Show to Encore at Wynn Las Vegas - Spamalot to Close in July
Posted by Hunter on April 17, 2008
The rumors are true! Gans will move to Encore when it opens, leaving The Mirage.
What's funny is that Wynn denied this point blank to Steve Friess in the last interview.
http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1131831&highlight=
Harrah's Changes Name - Back to 'Caesars Entertainment'
Posted by Hunter on April 9, 2008
Harrah's Entertainment, the recently gone-private casino behemoth, has decided to change its name - to Caesars Entertainment. Fun.
http://investor.harrahs.com/phoenix.zhtml?c=84772&p=irol-newsArticle&ID=1127757&highlight=
Wynn Las Vegas, Alex, Okada, Le Reve VIP, ATVs, and much, much more (March 27-30)
Posted by Mike E on April 9, 2008
It may have been a whole year in the works, but it felt like only yesterday that I had booked my flight as I was sitting impatiently at the airport. This was to be my last hoorah with Vegas until Encore's opening in December. Who knows if I'll hold true to that promise, but I planned this trip to the fullest knowing all too well that these rare opportunities don't come around very often.
(More after the jump...)
Vegas Doom and Gloom From The UK
Posted by Hunter on April 8, 2008
A Las Vegas-is-gonna-go-bust doom and gloom article from the Times Online in the UK.
http://www.timesonline.co.uk/tol/comment/columnists/chris_ayres/article3701686.ece
Open Topic Discussion - April 5, 2008
Posted by detroit1051 on April 5, 2008
The Wall Street Journal follows up on the condo-hotel bubble, and focuses much of the story on Residences at MGM Grand and Trump's new tower. The story should be available without a subscription:
"It's been a very bad investment," said Moji Adekunbi, a 47-year-old engineer, who bought a $550,000 condo-hotel unit in the Signature at the MGM Grand in 2005 in Las Vegas, where one of every four hotel rooms being developed is a condo-hotel unit. Mr. Adekunbi counted on the cash flow from renting out his unit more than covering his $3,000-a-month mortgage payment, leaving him with a tidy profit.
He said the developer's sales staff led him to believe that the hotel would have 94% occupancy and $350-a-night rates, Turns out, he said he is netting only between $400 and $1,800 a month before his mortgage payment."
Condo-Hotel Buyers See Investments Sour As the Market Weakens
'The Guy's Got To Be Off His Meds' - Wynn on Adelson's Claim of Offering Him a Job
Posted by Hunter on April 3, 2008
Steve Friess chats up Steve Wynn for this weeks The Strip Podcast and there is no shortage of great quotes, particularly near the end when he gets into Adelson's claim that at one point he had offered Wynn a job.
I assume the show will be posted sometime Thursday. It's certainly worth a listen, along with a few bits on Encore and the Binkley book, "Winner Takes All".
RJ - Planet Hollywood Continues Financial Recovery, Signs Look Good
Posted by Hunter on April 2, 2008
Some may recall that before the 're-opening' of the Aladdin as Planet Hollywood, I was quoted in a London paper by writer Steve Friess and gave a less than stellar prognosis for the troubled property. That subsequently lead to an exchange between Friess and Hollywood principal Robert Earl.
Anyway, as I said all along, I have nothing against the property or its operator and here's a story that indicates their strategy is indeed working, pulling PHo back from the abyss that was the Aladdin. For the sake of healthy competition, I hope we see this continue. Congrats to them for hard working paying off it seems.
http://www.lvrj.com/business/17216192.html
Crown Las Vegas Looks Dead
Posted by Hunter on March 27, 2008
It looks like the Crown Las Vegas project, which was to be a super tall hotel tower at one point, is dead - at least in its current incarnation. Something will be built there someday, the question is what.
http://www.lvrj.com/business/17044791.html
Open Topic Discussion - March 23rd, 2008
Posted by Hunter on March 23, 2008
Another open topic for discussion.
One thing of note - I got some photos from Mike_Ch which I published:
http://www.ratevegas.com/photo/most_recent
Thanks Mike!
Walk On The Left! Stand On The Right!
Posted by Hunter on March 23, 2008
VegasRex is covering one of my biggest pet peeves in Las Vegas - people that don't know how to WALK. You'd think that walking would have been mastered at a young age - certainly by college... But no... It seems it is still a mystery here in 2008. People don't realize that not everyone wants to walk/stand at their speed and they make it impossible to get around them. How about a little courtesy for your neighbors?
Sometimes I think walking should require a license - something I can revoke for the idiots that don't get it.
http://www.vegasrex.com/2008/03/23/vegasrex-vindicated-again
Whew. I feel better now.
Related Joins Bidding on Cosmopolitan
Posted by Hunter on March 23, 2008
According to the WSJ (sorry, registration required), the Related Companies, no stranger to distressed Vegas developments, is looking at the Cosmopolitan project.
http://online.wsj.com/article/SB120613069739055703.html?mod=hpp_us_whats_news
Thanks to Brian for the tip! Happy Easter!
Updated: Plaza Las Vegas Project On Hold Due to Lending Woes [Or Maybe Not?]
Posted by Hunter on March 17, 2008
Steve Friess picked up on the news from Wachovia that Elad is putting the Plaza Las Vegas project on hold due to the challenging credit market:
http://thestrippodcast.blogspot.com/2008/03/plaza-put-on-hold-as-wynn-predicted.html
Very interesting, especially coupled with the Cosmopolitan news. Friess apparently just did an interview with Steve Wynn where the casino mogul predicted this.
Update: Elad, the developer, is denying the report so at this point this is in question.
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/03/17/financial/f175003D71.DTL
Thanks Hail2Skins!
Vegas Roundtable #3: Encore, Casinos and 'Free', Majestic's Numbers and More...
Posted by Hunter on March 6, 2008
We talk the concept of 'free' and casinos, lots of fresh details on Encore at Wynn Las Vegas, Majestic's Vegas numbers, and more. This is a don't miss for Wynn fans.
The participants include:
Jeff Simpson - http://www.lasvegassun.com and http://www.inbusinesslasvegas.com
David McKee - http://www.lasvegasadvisor.com/blogs/dmckee/
Dave Schwartz - http://www.dieiscast.com
Chuck Monster - http://www.vegastripping.com
Direct Download: http://media.ratevegas.com/37-VegasGang03062008.mp3
Dave Schwartz: Free - The Future of Business and Casinos?
Posted by Hunter on February 26, 2008
Dave Schwartz has an interesting article where the talks about a piece from Wired that is discussing the proliferation of free services in business, especially on the Internet. Dave spins that into a gaming business narrative and breaks it down for us.
http://www.dieiscast.com/2008/02/26/could-casinos-become-free
Encore Suites at Wynn Las Vegas - Coming December 2008
Posted by Hunter on February 26, 2008
Wynn Resorts have settled on December 2008 as the unveiling for Encore Suites, the sister resort going up next to Wynn Las Vegas.
Few new details besides the opening timeframe are in the press release, though it does allude to many of the features we've already covered here in the past.
http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1112568&highlight=
Podcast: Vegas Roundtable #2 w/ Simpson, McKee, Schwartz, Monster and Me!
Posted by Hunter on February 21, 2008
We're back with roundtable #2 - this time around the topics include Crown investing in Harrah's/Station, MGM Grand Detroit, Pure being raided by the IRS, Cuba as the next Macau and more.
The participants include:
Jeff Simpson - http://www.lasvegassun.com and http://www.inbusinesslasvegas.com
David McKee - http://www.lasvegasadvisor.com/blogs/dmckee/
Dave Schwartz - http://www.dieiscast.com
Chuck Monster - http://www.vegastripping.com
Direct Download: http://media.ratevegas.com/36-podcast_02212008.mp3
Tax Evasion at Pure? IRS On the Scene
Posted by Hunter on February 20, 2008
This is still breaking but it seems like the Feds raided Pure, the nightclub at Caesars, today.
Pure is not run by Harrah's, it is a separate entity.
http://www.lasvegasnow.com/Global/story.asp?S=7901495&Call=Email&Format=Text
Wynn Resorts Reports Q4 Results
Posted by Hunter on February 12, 2008
Wynn Resorts just reported their results.
http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1107473&highlight=
That's the press release. I'll update this with some thoughts as soon as I have a chance.
Las Vegas Sands To Replace Sands Expo Center
Posted by detroit1051 on February 12, 2008
Las Vegas Sands hosted an Investors Day on February 11 in Las Vegas. Management presented detailed information on the company's operations in Las Vegas and Macau as well as on other projects being built or planned both in this country and overseas.
One important announcement was the plan to build a New Sands Expo at the corner of Koval and Sands. Once the facility opens at the end of 2010, the land that the existing Sands Expo Center sits on could be used for another resort or other purposes. The site is 20 acres and is part of the Venetian/Palazzo complex.
The Investors Presentation is available as a webcast and as a slide presentation. The slides of the New Sands Expo and of the 20 acres for future development are very interesting.
Investors Day Slides=Part I
Investors Day-Part II
Webcast Replay Links
Podcast: Vegas Roundtable w/ Simpson, McKee, Schwartz, Monster and Me!
Posted by Hunter on February 7, 2008
The first episode of what could become a new, semi-regular podcast has been posted.
It doesn't yet have a name but the working title is 'Vegas Roundtable'. It's a gaming industry related podcast in a discussion format. Today's participants include:
Jeff Simpson - http://www.lasvegassun.com and http://www.inbusinesslasvegas.com
David McKee - http://www.lasvegasadvisor.com/blogs/dmckee/
Dave Schwartz - http://www.dieiscast.com
Chuck Monster - http://www.vegastripping.com
Thanks to all participants. The podcast is in my normal feed for 'The Worst Las Vegas Podcast' but it will probably move to a dedicated feed. Also, if anyone can think of a good name, drop them in the comments.
If you don't subscribe to the feed and want the direct URL, here it is:
http://media.ratevegas.com/35-roundtable_1-02_07_08.mp3
Filed under
Atlantic City
,
Boyd Gaming
,
Business of Gaming
,
Fontainebleau
,
Las Vegas Strip
,
MGM MIRAGE
,
Monte Carlo Fire
,
Palazzo
,
Podcasts
,
Project CityCenter
,
Vegas Roundtable
,
Venetian/LV Sands
,
Wynn Resorts
UPDATED: Las Vegas Sands Reports Q4 2007 Results
Posted by Hunter on February 4, 2008
Las Vegas Sands reported their Q4 2007 results and the press release is here:
http://biz.yahoo.com/prnews/080204/lam127.html?.v=23
I'll update this story in a bit with some details and numbers once I have a chance to dig in.
Updated: Ok, I took a look at the numbers, which were down a bit. They cited increased development costs, which looks like it makes sense. Net income was WAY down but they had a ton of costs from opening Palazzo and post-opening stuff at Venetian Macau on Cotai. Interest expense was way up which indicates they had to fund some of those through bank loans. The Cotai property didn't perform at the level they wanted in terms of winnings but volume seems pretty strong - the property is already contributing about half of the company's gross. With Palazzo and Venetian Macau open, Sands is setup for a pretty nice story in fiscal 2008.
New Photos: Encore at Wynn Las Vegas and Monte Carlo Fire
Posted by Hunter on February 3, 2008
Some new photos posted this afternoon:
http://www.ratevegas.com/photo/gallery/encore
http://www.ratevegas.com/photo/gallery/montecarlofire
The Encore shots give a really good look at the final layouts for the big parts of the project. You can see all the skylights in the low-rise for the new spa, plus I assume that lattice roof area will be filled with glass as well. Overall, looking good - can't wait to see more.
Thanks to Brian and Mark for sharing their photos.
Regarding the podcast, I have GarageBand open now - hopefully I'll get this finished shortly.
Monte Carlo Fire and EIFS
Posted by Hunter on January 30, 2008
Last week, most TV sets were tuned in to see the facade of a Las Vegas hotel, the Monte Carlo, engulfed in flames. I'm no expert in fire safety but I know what was going through my head, watching in real time: this fire is moving FAST and whatever is on the top of that building looks to be fueling it.
In the hours and days that followed, one term was repeated over and over: EIFS.
Instead of demonizing an easy target, I'm glad that I've had the chance to speak with several folks fluent in EIFS details, including some industry representatives. Keep reading after the jump and I'll share a couple of things I've learned.
UPDATED: MAJOR Fire On Top of Monte Carlo [FIRE OUT, MAJOR DAMAGE]
Posted by Hunter on January 25, 2008
Not sure how serious this is yet. Obvious now that it was pretty serious.
http://www.lasvegasnow.com/Global/story.asp?S=7774764
Update: I'm watching the live video on lasvegasnow.com and it looks pretty bad. Lots of black smoke that actually looks like it is coming from two places.
Updated: The fire is extremely bad. Multiple floors on the South side - that side of the building at the top are basically destroyed. Major destruction. Wow, this is really bad. Clark County Firefighters are incredibly brave - they are up on the roof working to put this out. I guess guests are being moved to MGM Grand Garden Arena. Nice.
Diablo's Cantina indeed. I hope no one was hurt.
One interesting point - on the South side there, there is no low rise building at the base of the hotel tower. Hopefully that is making it easier to get crews closer from the ground.
Links:
http://www.lvrj.com/breaking_news/14369312.html
http://www.knbc.com/videostream/9476753/detail.html
http://lasvegassun.com/blogs/news/2008/jan/25/fire-monte-carlo/
Hats off to the amazing work of the Clark County Fire Department in getting this thing under control so quickly - and it does seem to be pretty much under their control now, despite the few flames still burning. Now the question is what does this mean for the property - how bad is the damage?
Update: Thanks to Mike_Ch, some more photos of the aftermath: http://www.ratevegas.com/photo/most_recent
