Two Way Hard Three | Las Vegas Casino & Design Blog

Yes, Strip Walk is back - July 2009 edition. This time, Mike added a little food critique as well.

The photos are here: http://photo.ratevegas.com/gallery/8741533_RQdWc

Enjoy!

Fascinating article today in the Sun about the fast-paced world of design and construction on the Las Vegas Strip.

Cost overruns and safety issues at projects like Fontainebleau and City Center have highlighted the massively iterative nature of the design process, sometimes at the cost of millions.

http://www.lasvegassun.com/news/2009/jun/28/practice-building-designs-are-done-hits-wall-fonta/

A story today in the RJ about how MGM Mirage saved City Center.

Despite painting a rosy outlook at the time, things were very close to catastrophe.

http://www.lvrj.com/business/48721837.html

This is a topic we touched on during a Vegas Gang show - I speculated that Murren and Co really pulled off a near-miracle in keeping the project intact. Knowing now that they did it without having to sell any additional Strip properties is even more amazing.

Happy to be back after a little bit of a break. Lots to talk about, as always.

We discuss:

* MGM Mirage Expands to Egypt
* Tropicana Atlantic City Sells to Ichan
* Fontainebleau Files Chapter 11
* City of Dreams Opens on Cotai

Also, check out WinoTripping.com and Vegas Mate 2.

Feel free to leave your comments below. If it's a question that you want asked on the show, please make that clear in your post. You can also send those to editor@ratevegas.com.

We know that all casino operators take their player databases and deliver offers based on the customer's profile - better customers get better offers, though sometimes it can be far more complex than that - bringing in a long lost customer, enticing some specific block. They use high-end relationship management software to pull these things together.

It becomes more interesting when an operator makes a mistake and the customer gets to see how they are classified in the database.

Over the past day or so, MGM Mirage sent out email marketing information for the Michael Buble concert on July 4th weekend. At the bottom of the offer, where it has the players name, it appears they accidentally included the account classification.

Here's what mine looked like:

I'm not sure what 'Mature Wealth' actually means - I'm 29 years old and haven't been staying or playing with MGM Mirage as much as I did a few years ago. Even when I had, I never dropped any large coin at their properties - it did make me chuckle though.

What's more interesting is that other readers reported tags such as 'Modest Means' - not sure if calling customers poor is the hook MGM was looking for to get people back on property.

Did you get this email? Any other interesting tags you're willing to share in the comments?

Mike is back with a Strip Walk for June 2009 including Encore, Palazzo, Treasure Island, City Center and more.

As always, the photo gallery is here: http://photo.ratevegas.com/gallery/8511233_PnJR7

Click through to read more.

The first version of Vegas Mate was released in August of last year. It was my first effort for the iPhone, which at that time had just started allowing developers like me to create applications to be sold on the iTunes App Store. I'm very happy with how Vegas Mate has done since then. I don't disclose sales figures but there are thousands upon thousands of happy users and it seems to be going strong. So what's coming next? Lots.

In March, Apple gave us developers insight into new features they were adding in iPhone OS 3.0. This free iPhone system upgrade ($10 bucks on iPod Touch) includes stuff like copy and paste, MMS, integrated searching and a lot more. Under the covers, there are a ton of new hooks and tools that developers can use to make their software better. With this in mind, I began working on Vegas Mate 2.0 to incorporate the new stuff.

iPhone OS 3.0 will be released next Wednesday the 17th and I'm hoping that Vegas Mate 2 will follow about a month later. It's basically a complete re-write, taking advantage of many of the new features that Apple provided. The revised plumbing allowed me to add a few things I've wanted in there for quite awhile.

Vegas Mate 2.0 will be a free update for all existing users and yes, it will run on the upcoming iPhone 3GS announced this week.

Here's some of what's new in Vegas Mate 2.0:

* Over-the-Air Content Updates - existing versions of Vegas Mate required a full update via the App Store to get content changes in there. I've done 9 updates since last August but with how quickly Vegas is changing, I wanted something far closer to real-time. Now all content updates will occur wirelessly from our server.

* News, Promos and Events - I'm integrating some popular RSS feeds as well as info on current promotions and events. This isn't designed to take the place of a regular news tool, just a quick hit of info for travelers that's Vegas specific. More about how this works as we get closer to the release.

* Designate Hotels, Restaurants and Activities as Favorites for Quick Access - There are hundreds of items in the Vegas Mate database. Users can now mark items as 'favorites' and see them from a new screen. This should hopefully make trip planning with Vegas Mate easier.

* Restaurant Menus - Where available, I am adding the ability to view restaurant menus from the app. VM2 will launch with a number of restaurants that will quickly expand.

* Live, Google Maps Right in the App - The current version of Vegas Mate has maps but they didn't include all of the richness that the native 'Maps' application provides. That's all changed now with full maps embedded right into the app.

* Updated User Interface - The UI has received a lot of spit and polish all over the place.

* New Content - As always, the quantity and quality of in-app content has increased.

Now, it's possible I may change some of these features before launch but it's looking pretty dialed in at this point. I love working on Vegas Mate and I'm glad that so many of you enjoy it too. I've got a 'potential features' list a mile long but I always like to hear other ideas, even if I don't end up using them.

Not a big surprise given the funding problems they ran into when the banks pulled their last $800 million but it's still worth noting that this is bad news.

http://www.lasvegassun.com/news/2009/jun/09/fontainebleau-developer-files-bankruptcy/

Thanks to reader 'G' for sending this to me.

As has been reported in many corners, plans for changes at the Trop in Las Vegas are moving forward.

This RJ story has the details:
http://www.lvrj.com/business/46897947.html

Even if they pump a $100 million into this place, it will still be the Trop. Don't get me wrong, it could go a long way to clean up the casino floor - new carpets, some paint, etc... but let's not pretend that all of a sudden people are going to mistake it for a five-diamond joint.

Trop 3.0 could do just fine targeting the mid-market.

Former Mandalay Resort Group executive Glenn Schaeffer is out as the top dog at Fontainebleau Resorts. This is another *major* blow for the company that is already struggling with financing problems related to its Strip resort.

http://www.lvrj.com/news/breaking_news/46476427.html

Happy to be back after a little bit of a break. Lots to talk about, as always.

We discuss:

* MGM Mirage Pulls a Rabbit Out of its Hat
* Fontainebleau May Not Be Totally Screwed (we'll see)
* UNLV Center for Gaming Research Trends
* MGM Mirage Selling Properties

Feel free to leave your comments below. If it's a question that you want asked on the show, please make that clear in your post. You can also send those to editor@ratevegas.com.

We sent Mr. Mike_Ch over to Mandalay Bay to see the new production of Disney's The Lion King.

He came back with a mighty helpful and dare I say insightful review.

Enjoy after the jump!

The private equity takeover plan that includes former MGM Grand exec Alex Yemenidjian seems to be moving forward.

http://www.lasvegassun.com/news/2009/may/15/equity-firm-plans-take-over-tropicana/

MGM Mirage has proposed issuing some new debt and equity to raise up to $2.5 billion. Proceeds would be used to pay off other debts.

Part of the package would includes liens against Bellagio and The Mirage which translates into MGM not selling those places anytime soon.

http://www.lasvegassun.com/news/2009/may/13/mgm-mirage-issues-plan-avoids-selling-bellagio-mir/

Here we are with another Mike_Ch Strip Walk for late April / early May 2009.

You'll visit Luxor, Excalibur, Monte Carlo, Bellagio, Caesars Palace and more.

Everything is after the jump. The full photo gallery is here.

As per an email marketing campaign, Monte Carlo will be introducing 'Hotel 32' in the coming weeks or months.

Details are sparse and MGM Mirage says they're not ready to divulge more yet but the images in the email seem to show a heavily upgraded 32nd floor, the top level damaged by the January 2008 fire. There may also be a special lounge on this floor for suite guests, though that's not confirmed.

http://click.mgg01.net/t/6315812/27690704/12343953/0/

Hotel 32 is expected to start accepting guests sometime in August of 2009.

Las Vegas Sands reported their first quarter results and as many could have guessed, they lost a little money this time around - looks like $87 million.

Details here:

http://phx.corporate-ir.net/phoenix.zhtml?c=185629&p=irol-newsArticle&ID=1284548&highlight=

Wynn Resorts posted their first quarter numbers today:

http://www.lasvegassun.com/news/2009/may/05/wynn-resorts-posts-first-quarter-loss/

Looks like Macau, sometimes the lifeboat for earnings, wasn't able to pull it off this time.

A very tough quarter for the Las Vegas based operator - 20% reduction in net revenue. To their credit, they don't sugar coat it - things are tough in gaming and these results reflect that.

If they hadn't had some of the TI sale figures in this quarter, things would have looked even worse.

REVPAR took a big hit - looks like they had to significantly drop rates to stabilize occupancy.

http://phx.corporate-ir.net/phoenix.zhtml?c=101502&p=IROL-NewsText&t=Regular&id=1283960&

CSM at VegasTripping.com has posted some still images of Fontainebleau Las Vegas interiors that were captured from a video rendering. Chuck's post and stills are here:

http://www.vegastripping.com/news/news.php?news_id=2655

The original video is here:

http://www.spine3d.com/portfolio/animations.html

Chuck mentions in his post that it amps up his interest in the property a good margin. While I think some of it looks interesting, that overhead casino shot reminds me of a nicer version of Planet Hollywood. Of course, I may change my mind when I see it in person.

Still, very interesting. Hopefully this place is completed sooner rather than later.

Sad news this morning - long time Las Vegas headliner Danny Gans, who recently opened a new show at Encore Las Vegas, has apparently died in his sleep. He was 52 years old.

Gans previous show at The Mirage had a long successful run, as did his previous off-Strip engagement at The Rio.

While perhaps not known outside of Las Vegas, Danny Gans' show was one of the town's most popular.

I know Gans was married and had children. Very sad.

Review-Journal: http://www.lvrj.com/news/breaking_news/44137092.html

Las Vegas Sun: http://www.lasvegassun.com/news/2009/may/01/reports-las-vegas-headliner-danny-gans-dies/

Update: Richard Abowitz has the Wynn statement: http://vegasblog.latimes.com/vegas/2009/05/breaking-vegas-headliner-dead-at-52.html

Update: Steve Friess spoke with Gans manager Chip Lightman: http://thestrippodcast.blogspot.com/2009/05/danny-gans-dead-at-52.html

After a very anti-climatic afternoon which saw MGM Mirage shares stop trading ahead of the closing bell, we see this news that MGM and partner Dubai World have hammered out an agreement, along with the lenders, to make sure CityCenter is completed and opens later this year.

http://phx.corporate-ir.net/phoenix.zhtml?c=101502&p=irol-newsArticle&t=Regular&id=1282241&

It appears that MGM Mirage had to put Circus Circus and its land up as a lien as part of this deal, if construction costs go over.

We're back with another episode! It can be downloaded here.

Our special guest is casino expert Bill Zender, author of Casino-ology, a collection of his writings over the past several years. Zender was also a guest on Dr. Dave's excellent UNLV podcast.

We discuss:

* Game Protection and the Future
* Casino Consolidation on The Strip
* MGM Mirage Selling Properties

Feel free to leave your comments below. If it's a question that you want asked on the show, please make that clear in your post. You can also send those to editor@ratevegas.com.

According to the award winning Las Vegas Sun, Fontainebleau is suing some banks that apparently don't want to loan about $800MM that was promised to complete the project.

http://www.lasvegassun.com/news/2009/apr/23/fontainebleau-files-lawsuit-over-funding/

Funny, we were just talking about FBleau on the VegasGang today. Episode to be posted soon.

According to the WSJ, investor Carl Icahn and Oaktree Capital, a private equity firm, have been buying up MGM Mirage bonds and are pushing for the company to file bankruptcy.

More as it develops.

Update: WSJ link.

It seems Dubai World has floated a proposal in the drama that is CityCenter.

http://online.wsj.com/article/SB123939646828409297.html

Hopefully you can read that (I will post a free link when/if I can) but it basically sounds like they're saying that all the parties should agree to fund the rest of the project - you know, kinda like the original plan they had when they struck their deal in the first place.

Under this plan, MGM Mirage, Dubai and the banks would remove some of the contingencies surrounding the final $3 billion (every time, this number seems different) in funding required to finish the project.

Also, a different story from the RJ about MGM Mirage about the banks letting them continue to go along alone, without DW:
http://www.lvrj.com/news/breaking_news/42822312.html

Many of you have already seen the two part interview with Steve Wynn that Jon Ralston did. If not, watch here:

Part One (LV Sun)

Part Two (LV Sun)

Now, along with giving insight into his political beliefs, one of the more interesting bits is the talk about Wynn shopping for assets on The Strip. We also discussed this on yesterday's Vegas Gang. Would Wynn buy Bellagio? I think the consensus is that he meant what he said - if the price is right, Wynn Resorts may be game. This should not surprise anyone.

Wynn says Las Vegas is better off with multiple operators duking it out. I totally agree and hope that one of the positive outcomes of this downturn is that we have better, more vibrant bare-knuckled competition on The Strip. That would certainly make my job more interesting.

Can't get enough of The Steve? He'll be on 60 Minutes this Sunday with a piece by my favorite interviewer, Charlie Rose.

We will touch on this on the next Vegas Gang show but I wanted to post this for comments.

As is typical, the gaming figures have been released. They are of course, down.

Dr. Dave thinks the RJ is downplaying the bad news.

In related news, word comes that the Gaming Control Board is forming an internal crisis team to deal with bankrupt casinos.

Harrah's was able to pull off a debt swap that looks to have improved their position a bit.

Here's a short review from my most recent trip including tours of both the Duplex Apartments and Sky Casino at Encore. Enjoy and feel free to skip to sections that interest you.

Sources are telling the Las Vegas Sun that City Center may be forced to file Chapter 11 bankruptcy tomorrow, if they miss an important financial payment.

http://www.lasvegassun.com/news/2009/mar/26/reports-citycenter-hires-law-firm-preps-bankruptcy/

This is also being covered by the WSJ: http://online.wsj.com/article/SB123811086468552891.html#mod=testMod

NOTE: This isn't a filing for MGM Mirage, just City Center LLC.

We'll see what happens here. It is unclear if MGM Mirage would be allowed to make the Dubai World part of the payment if they wanted to and if they did, it might not be in their interest to do so, even if they had the cash.

At this point, both companies are positioning themselves in a legal pissing contest for control of the project.

We're back with another episode! It can be downloaded here.

This time around we discuss:

* Casino Photography Rules
* MGM Mirage vs. Dubai World
* Tropicana / Chapter 11
* Las Vegas Sands in Macau

Feel free to leave your comments below.

We haven't had an open topic for some time so here goes...

One thing to kick it off: Dubai is suing MGM Mirage over City Center:

http://www.lvrj.com/news/41688037.html

And the LVSUN:

http://www.lasvegassun.com/news/2009/mar/23/lawsuit-clouds-future-citycenter/

MGM Mirage has posted their late filing of their results from the fourth quarter of 2008.

Summary from the company here:
http://phx.corporate-ir.net/phoenix.zhtml?c=101502&p=IROL-NewsText&t=Regular&id=1267058&

Unless I'm missing something, seems like they intentionally left out some of the worse looking numbers, leaving analysts and readers to compute them for themselves. Loss per share of $4.15? Not good. Occupancy hovering in the 85% range - I was actually expecting a bit worse.

The language in the filing , likely required by auditors, is pretty stark - it spells out the trouble that MGM Mirage is in regarding financing the completion of their projects.

A conference call is scheduled for this evening and this post will be updated once I have time to read the whole filing.

Update: More from the WSJ: http://online.wsj.com/article/SB123732708930762149.html?mod=rss_whats_news_us

An article in the Wall Street Journal today discusses the possibility of more asset sales at MGM Mirage - perhaps enough that it may look more like a breakup of the company than just shedding a few hotel rooms.

http://online.wsj.com/article/SB123699441708227489.html

(if that doesn't work, you can probably access through Google here)

While MGM Mirage shareholders might not love the idea of the best assets being sold off at potential fire-sale prices, maybe this would be good for The Strip and Las Vegas.

As others have said, when ARIA opens, will Bellagio suffer? If it had a different set of owners, they could compete head-on, full bore.

One thing is for sure - MGM Mirage has bet the farm on City Center.

They are writing down massive amounts of goodwill... plus, the properties aren't throwing off nearly as much cash as they used to.

http://www.lasvegassun.com/news/2009/mar/13/harrahs-reports-loss-says-lv-properties-hit-hard/

Another week, another report of building problems left undiscovered by officials. Instead of City Center, now we have the neighboring Cosmopolitan, the property that can't seem to find a permanent owner having been taken over by its financiers after the developer defaulted last year.

The RJ reports: http://www.lvrj.com/news/41078077.html

With all of this talk about buildings not being properly checked during construction, I can't help but to recall these issues with Harrah's a few years back:

http://www.ratevegas.com/blog/2007/10/harrahs_cut_cor.html

http://www.ratevegas.com/blog/2008/04/vegas_gang_6_ap.html

Stories in the Sun and RJ today have word that Cosmo owner Deutsche Bank have decided to re-design the interiors of some floors, resulting in work stoppage.

http://www.lasvegassun.com/news/2009/mar/06/work-cosmopolitan-resort-hold/

Also, there's word that the bank may have signed a deal with Hilton to operate the hotel and/or casino portions - Deutsche does not have a Nevada gaming license and a recent deal with MGM Mirage seems to have fallen apart.

http://www.lvrj.com/business/40891687.html

Two unrelated stories from the Las Vegas Sun.

First off, it seems Moody's are saying that Fontainebleau might be in trouble if they can't sell condos (insight!):

http://www.lasvegassun.com/news/2009/mar/04/moodys-fontainebleau-could-default-debt/

Then we also have Harrah's, a company struggling to avoid bankruptcy. They're attempting to re-structure their debt to avoid that scenario.

http://www.lasvegassun.com/news/2009/mar/04/harrahs-could-be-short-cash-pay-debts/

Let the good times roll!

MGM Mirage was due to file it's 10K quarterly report information with the SEC but instead, filed for an extension:

RJ: http://www.lvrj.com/business/40703237.html

Sun: http://www.lasvegassun.com/news/2009/mar/03/mgm-mirage-says-it-needs-more-time-file-annual-rep/

MGM Mirage is in an incredibly precarious position. If it cannot re-work its capital structure or sell off some additional properties, there may be no option other than Chapter 11 - almost unthinkable for a company that just a few years ago was the king of The Strip.

Principal shareholder Kirk Kerkorian has seen his stake shrink from almost $10 billion to somewhere just shy of $400 million.

Update: MGM Mirage's Jim Murren has sent a letter to employees about the company's financial condition: http://www.lasvegassun.com/news/2009/mar/03/mgm-mirage-chairmans-letter-employees-about-compan/

We're back with another episode! It can be downloaded here.

This time around we discuss:

* Boyd Offers to Buy Station Assets
* Wynn Resorts Q4 2008
* iPhone Card Counting Software Makes the Rounds
* 2008 Gaming Abstract Figures
* M Resort Opens Sunday

Feel free to leave your comments below.

Wynn Resorts has released their financials for Q4 2008:

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1259580&highlight=

Not great, as expected. Still, not terrible. For the quarter, adjusted net income was $7.6 million, down from $82 million a year ago. Most of this decline is due to Las Vegas as Wynn Macau saw an uptick. They also took a tax charge, bringing the GAAP earnings for Q4 to a loss of $159.9 million.

While only online for a little more than a week in 2008, we get our first peek at how the company will be reporting Encore. It seems that they will not be breaking the WLV/Encore numbers apart. For the Las Vegas complex ADR was $281 and REVPAR was $224. Occupancy was down to 79.7% for the quarter - incredibly low.

Wynn Macau seems to be humming along nicely with a 35.6% revenue bump over 2007.

All the details are in the press release linked above.

Thanks to reader Anthony who pointed out this breaking story... It appears that the rumors may have some truth to them - this has been floating around for a few weeks without any substantiation.

It seems that Deutsche Bank may be looking to extricate themselves from the situation they find themselves in with Cosmopolitan by offering to help finance the rest of MGM's City Center project.

http://www.lvrj.com/news/breaking_news/40126262.html

ARIA, the main hotel component at City Center, is taking reservations starting today. The first night for regular guests is December 17.

The Web site for bookings, which also contains some new renderings of the property and rooms is here:

http://www.arialasvegas.com

Rates for opening night are currently at $299 (ouch) for what is normally a very very slow week in town. We'll see if those come down.

Reservations for Vdara, the condo hotel next to ARIA, are expected to open today as well [online here - thanks Mike P!] for dates starting in October. Not sure what it will be like to stay in what will still be a construction site in the delta between those two openings.

This is the first opening of a [ed: Las Vegas] hotel for MGM Mirage since the company was combined in 2000.

Not a new story but I've been out of commission for the past 36 hours... Looks like some analysts believe that Fontainebleau may run into some cash issues post open, later this year.

http://www.lasvegassun.com/news/2009/feb/20/sp-fontainebleau-could-have-trouble-making-payment/

Of course, we here and pretty much everyone else, everywhere else has been saying this too.

Mike's back with another Strip Walk column. He's got some photo links in his post but if you want to see the entire gallery, click here:

http://photo.ratevegas.com/gallery/7348756_YyrfG

Continue after the jump to get your Vegas fix.

We're back with another episode! It can be downloaded here.

This time around we discuss:

* Atlantic City
* Las Vegas Economic Woes
* Tropicana Re-Brands as Value Property (!)
* City Center's Harmon is Stunted

Also, be sure to check out the new podcast from the UNLV Center for Gaming Research. You can subscribe to that here: http://gaming.unlv.edu/podcast.html

The Q4 2008 numbers are in for LVS - the first major operator to report their results.

http://finance.yahoo.com/news/Las-Vegas-Sands-Corp-Reports-prnews-14329562.html

Looks like an operating loss of $34.4 million, down from income of $133.6 million in the same quarter last year (GAAP). Adjusted, it's a $17.1 million loss vs. a previous year Q4 income of $71.1 million.

In Las Vegas, occupancy was 93.7% for the quarter - better than I expected (though not broken out by property). In Macau, occupancy was at 90%. While not providing figures, the company admits that the Four Seasons Cotai has been slower to ramp-up than they would have liked.

The company believes it can save $250 million a year through a new efficiency program (read: likely layoffs, hour reductions, etc...).

They have gotten their average borrowing rate down to around 3%, which is pretty good considering it used to be almost twice that.

We will no doubt be discussing tomorrow on our next episode of the Vegas Gang.

Updated: Management said that they don't see any market segment where they could really raise room rates other than perhaps in the group segment.

They are working to try to combat the recent national sentiment that seems to be pointing at Vegas based business trips as some sort of 'boondoggle'.

John Curtas is one of my favorite people writing about Las Vegas. His take on the Vegas food scene is always informative.

Curtas today posted a run down of some of his Encore experiences which are worth a read: http://www.eatinglv.com/2009/02/the-trouble-with-encore/

Now, I am no food critic. I have a fairly unsophisticated palette though I do enjoy food quite a bit. Having eaten at all of the restaurants in the post, while I cannot rebut any of the specifics, I will say that I would put Botero in the list of restaurants at Encore I would look forward to going back to. Both of my meals there were quite good, by my admittedly 'simple' standards.

After rebar problems at The Harmon went unnoticed, Clark County is requiring MGM Mirage to assure them and the public that the structures at City Center are sound.

This article in the Sun:

http://www.lasvegassun.com/news/2009/feb/06/just-making-sure/

and another piece in the RJ:

http://www.lvrj.com/news/39192767.html

detail the process. Perhaps the biggest issue isn't that errors were made - that happens on job sites all the time - but that they still can't figure out how it happened and passed the various, required inspections. That points to a possible systemic breakdown in the evaluation process.

Updated: A story in the LV Sun today titled 'Adaptation or 'disaster'?' discusses what the Harmon changes will mean for the project overall - a very interesting piece.

After spending a few more nights at Encore in the middle of January, I'm sharing some more of my thoughts after the jump.

Along with this, I am still working on editing some additional audio that was taken during various media tours - a substantial job given the varying quality of the source material.

Continue on for a little bit more about Encore.

Two unrelated but interesting stories:

Wynn Resorts has long prided itself on not laying off employees (though that does not seem to apply to the Wynn Design and Development sister company who recently shed several jobs). Today the company announced some measures aimed at keeping people employed, even if that means less pay, less hours and reduced benefits:

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1251586&highlight=

a little more from the LV Sun: http://www.lasvegassun.com/news/2009/feb/03/wynn-announces-salary-reductions-reduced-work-week/

In other news, the IRS followed disgraced Fry's executive Omar Siddiqui to The Venetian this week. They are investigating allegations of tax fraud. Siddiqui was a Las Vegas high roller at several properties for years.

http://www.mercurynews.com/topstories/ci_11611329?source=email

According to this article in the Sun, the Tropicana has hired a branding/marketing firm to help them re-make their image to go after the value conscious consumer.

http://www.lasvegassun.com/news/2009/feb/03/tropicana-hires-branding-firm-focus-value/

Perhaps a market that was becoming more and more under-served on The Strip but not sure if this was the lifeboat that customers were hoping for,

According to the Las Vegas Sun, the board of directors of Las Vegas Sands, owners of The Venetian and The Palazzo on the Las Vegas Strip as well as several casinos around the globe have been sued for mishandling the company.

http://www.lasvegassun.com/news/2009/jan/28/sands-lawsuit/

Apparently this is not the first time this has happened and suits like this not are uncommon when a company sees a dramatic drop in their share price.

Throwing open another open topic but I got this little nugget to kick around from reader Jeff in OKC:

"Is Bellagio cursed? I don't know of any curse, or any Indian burial grounds, etc., but, I think there's some bad mojo at the Southwest corner of Flamingo and Las Vegas Boulevard. Since the Dunes was built there in the 50's, all kinds of unusual problems have plagued the property. Design and construction problems abounded there in the 60's and 70's. But ownership seems to be the biggest victim of strange things there. From legendary mob control, to the Japanese financial collapse that led to Steve Wynn getting the land. Spectacularly, for our purposes, Steve Wynn built palatial offices for Mirage Resorts, which he had to give up when he got in a cash bind and had to sell out in 2000. I understand MGM moved their HQ to Bellagio after the buyout, and Terry Lanni took over the same office. Lanni, as well, suffered an equally amazing fall from grace in just a few days during November, 2008. If I were Jim Murren, I think I'd move HQ back to the MGM Grand. Any thoughts?"

Funny to see this story today in the Sun about the financing at Fontainebleau:

http://www.lasvegassun.com/news/2009/jan/19/fontainebleau-has-cash-keep-rising/

Just the other day as I was walking outside Encore, I was thinking to myself that it didn't look like much glass had been added to the tower at FBleau since December. Well, photographic evidence proved otherwise - my mind was just playing tricks on me and the glass is indeed rising.

When I checked out the visitors center there a few weeks back, there was a lot of construction activity in the low-rise portions. It is telling though that so far I don't think they will even sell you a condo - perhaps a chance they want to keep their options open?

The visitors area includes a large model of the complex, which does look interesting, as well as a model room. The room itself was nicely appointed - you can see Schaeffer and THEHotel written all over its style. Not quite as big as I would have expected, but then again, neither are the rooms at ARIA.

As some already know, I spent some time last week at Encore Las Vegas for what Wynn Resorts called 'Media Week'. Over the course of 5 days of events, various forms of media were invited to come stay at the hotel and participate in all sorts of events from back-of-house tours to eating in the restaurants.

After the jump for more, including a link to the audio extra...

Vegas Gang #25 is online.

This week on the show:

* Harrah's Suspends Caesars Palace Tower
* LVS v. ELAD v. WYNN
* Rumors Swirling Around The Mirage Sale
* Encore Media Week

Leave any comments below.

For the past several weeks, rumors of a potential sale of The Mirage have been making the rounds. Personally, I've heard at least two different versions and one from a credible source, though no one that has claimed direct knowledge of a deal.

Today, Howard Stutz in the RJ has a piece that made the front page 'Breaking News' section on the persistent rumors:

http://www.lvrj.com/blogs/stutz/Rumors_rife_about_possible_sale_of_The_Mirage_.html

In all the versions of the story I keep hearing, the buyer is always Penn National, with Pinnacle Entertainment a distant second chance possibility. The rumored price is typically between $1.2 and $1.5 billion.

MGM Mirage has consistently said that they evaluate all offers but they have nothing to announce.

Still, does this sale make sense for MGM Mirage? Without a dollar figure, it's hard to say but as Stutz indicated, if liquidity is enough of an issue to force this, I would have expected other assets to be divested first, such as the 50% stake in Borgata or perhaps something like Luxor. Of course, The Mirage may be the only asset that this buyer wants (and can afford - I'm sure they'd love Bellagio).

The Mirage has recently been significantly re-worked and would be a great Las Vegas starting point for a company like Penn.

And to those that keep hoping Steve Wynn would buy the hotel back - no chance (unless the price was super-low). He's looking one direction and that's forward.

UPDATE: As stated in the comments, the RJ link is dead and the home page now includes a note saying Penn Natl is not interested... At this time...

Thanks to reader Mark D., we have this bit of news from the LVRJ:

http://www.lvrj.com/news/breaking_news/37462974.html

So, along with MGM Mirage's announcement last week about The Harmon being built without its condos, we have this. I hope they at least finish the shell so it doesn't look crappy.

Updated: The LV Sun chimes in: http://www.lasvegassun.com/news/2009/jan/12/caesars-palace-delays-opening-tower/

After a few weeks of massive rumormongering, it turns out something was indeed going on with The Harmon, the hotel and condo tower planned for the north end of the City Center complex.

The condo portion of The Harmon will be cancelled and the hotel will now not open until 2010, making it the last part of the complex to come online.

http://www.marketwatch.com/news/story/citycenter-announces-scope-changes/story.aspx?guid=%7B4F71EC88-5B2A-467B-9539-DAE76305AD04%7D&dist=msr_4

more from the LV Sun:

http://www.lasvegassun.com/news/2009/jan/07/builder-error-significant/

This is sort of a bizarre story... It claims that Elad, the company that purchased the New Frontier and plans to build The Plaza there someday, is supposedly asking Las Vegas Sands for financial help.

http://www.reuters.com/article/marketsNews/idINL67500620090106?rpc=44

Does that make any sense to anyone? LVS has had more than their share of financial problems recently... what sort of help could they possibly offer?

Update: More from Bill Lerner via Steve Friess:
http://thestrippodcast.blogspot.com/2009/01/wynn-or-adelson-want-frontier-land.html

Vegas Gang #24 is online.

This week on the show:

* The Trippies are announced this weekend.
* Encore Las Vegas Opens - EncoreOpening.com
* MGM Mirage Sells Treasure Island to Phil Ruffin
* The Harmon / City Center / Light Group Parting Ways?

Leave any comments below.

Mike is back with the final Strip Walk of 2008.

Yes, there's some more Encore stuff in here but most of the column is dedicated to the rest of The Strip - do not fear, Encore haters!

Enjoy. Main text and photo links after the jump.

Thousands of pieces - furniture, hand-woven carpets, wall coverings, chandeliers and everything else that makes up a Las Vegas resort - were all custom-picked and either built or acquired for Encore at Wynn Las Vegas, the latest creation from a team that's been working with Steve Wynn for almost three decades.

Keep reading after the jump for more.

Here's my full review of Encore including four restaurants, the spa, and other notes from my December trip. Enjoy!

Many of my colleagues have also been writing about Encore and the opening festivities.

Here are some links not to miss:

http://www.vegastripping.com/features/feature.php?feature_id=154&page=1

http://www.dieiscast.com/2008/12/22/and-now-for-an-encore/

http://www.lasvegasadvisor.com/blogs/dmckee/index.cfm/2008/12/22/Deep-Red-Encore

http://thestrippodcast.blogspot.com/2008/12/encore-from-last-night.html

I'm sure there's more good stuff - feel free to add to the comments.

If you didn't catch them last night, I posted more photos on Flickr - these will also be moving to a gallery on RateVegas.com shortly.

http://www.flickr.com/photos/lasvegas/sets/72157611429036671/

This will be somewhat brief - I will write a full review of this first stay probably later in the week - but I wanted to share a few first impressions, brought to you from Encore's 61st floor.

I was lucky enough to be given a guided tour this morning by Roger Thomas, VP of Design for Wynn Design and Development. He is responsible for most of the interiors of the resort, along with previous creations like Wynn Las Vegas, Bellagio and Treasure Island. He refers to himself as an 'author' when talking about the design process. Given how much thought goes into his 'prose', I think that's appropriate.

The tour was great - I took a lot of notes that I will transcribe later.

In a word I would describe Encore as breathtaking. It's much smaller - very intimate. It is a fantastic complement to Wynn Las Vegas. The casino, as many anticipated, is very similar to Wynn Macau with smaller chambered areas. Personally, I think this design is a huge win, though it might not work with a larger space. It's more appropriate for a smaller casino floor as they have here.

There are walk up bars on all sides of the property - Thomas told me this was in direct response to customers wanting more bars on the WLV side. One of the bars on the east end of the casino is a huge glass wall overlooking the pool, flooding the gaming areas with natural light.

For restaurants, we saw Sinatra (retro, 60s Palm Springs kinda vibe, but not in an old sorta way). Later in the afternoon, I watched them install the 1953 Best Supporting Actor Award in its display. It's gorgeous.

Had a quick lunch at Society Cafe Encore and it was really fantastic. Simple dishes but my chicken sandwich was perfectly done.

The Esplanade includes several high end boutiques, including a new home store featuring Roger Thomas' furniture. The Wynn and Company Jewelers on this side are displaying the 'Wynn Diamond', a 231 caret stone that is breathtaking to behold.

While not being much of a nightclub guy personally, we walked through XS and I was impressed. I think it's got a chance at being the top spot in town - the interplay between the pool and the club is amazing and sure to be a huge hit, likely to be copied elsewhere.

The Tower Suites lobby is tucked away from the casino floor, as it is at Wynn Las Vegas, while the main Resort check-in is open to the main walkway on the North side. Tower Suites is less of a preferred option at Encore, though the rooms we did see on that side were huge and amazing. The 2 and 3 bedroom, two level sky villas sounded impressive, though we did not get to tour one (yet).

They're being pretty tough about photos so far. I'm hoping that will ease up at 8pm when the place officially opens.

There's a ton of interesting design detail in this place - as much or more than Wynn Las Vegas.

More to come. Please follow us at EncoreOpening.com and feel free to ask questions to us there via Twitter or if you can't do that, leave a comment.

Also, room photos: http://www.flickr.com/photos/lasvegas/sets/72157611429036671/

Thanks to readers for pointing this out.

The Las Vegas Review-Journal has posted a few PR shots of Encore's interior. They include a couple of shots of the atrium and the spa. Others have rightly pointed out there's a lot of design cross over between Encore and the 'Villa Atrium' at Wynn Las Vegas.

http://www.reviewjournal.com/media/slideshow/encore_opening/

Friends... Encore's opening is upon us. In case you missed the announcement, we'll be covering all manner of opening details at EncoreOpening.com as we partner with VegasTripping.com to bring you great coverage.

You can follow our Twitter and Flickr streams there directly. If you want to get involved, you can tweet to @ratevegas or @vegastripping to ask questions, leave comments, etc...

Also, several other readers who mentioned they'd be in town talked about perhaps getting together for a drink at some point... Several ideas were thrown around but if it works for others, I'd suggest 6:30pm on the 22nd at Parasol Up (Wynn Las Vegas). This would allow a little time for conversation before the public unveiling of Encore at 8pm. Everyone is welcome.

Yesterday, as I was waiting in an interminable airport line, I got a call that came up as 'Wynn Las Vegas' on caller ID. That could have meant one of two things - someone was calling to yell at me about something I wrote or there was some problem with one of my hotel reservations - as many of my readers know, I'm booked at Encore for opening night and will be at WLV before that.

Well, it was the latter...

The call was from an Assistant Hotel Manager who told me that the room I had booked at Encore, a Tower Suites room, was not available and I would have to be downgraded. The explanation was that a 'computer glitch' had made the rooms available for sale when they should not have been. The manager said they 'just figured it out' and were making calls to people. Well, I booked Encore the first moment it became available (someone told me I was the second person to book online, after our friend Brian Fey). That was October 31st.

So, for a month and a half, these rooms (as well as the larger suites) were incorrectly available to book online and apparently no one noticed until December 15th. Uh-huh.

My currently unsubstantiated guess is that they got a better-than-expected RSVP from invited guests and didn't have the rooms to put them in, so they started to bump regular bookings down from the Tower to Resort side of the hotel. I'm working on getting a confirmation on my theory.

Now, I understand the casino is a VIP business and this can happen. Such is life. My first issue would be if I was lied to about the computer glitch in order to get me to 'go quietly' and accept the lesser room. I suggested upgrading to a larger, more expensive room but those were also not available. I wanted to have access to a few types of different rooms for photos and commentary for you fine people, hence my protests when the call came in.

My disappointment will subside. Life will go on.

What's interesting though is that as of now, it seems like people that booked through Wynn's Web site got short shrift compared to other methods. For instance, another reader here had booked through the American Express Travel Agency and thus far has not received a similar phone call about adjusting the reservation. Will he keep his more deluxe rooms?

If this turns out to be true, customers need to be careful who they choose to book with. The advice I've handed out to hundreds of thousands of site visitors - that booking with the hotel directly is often the best route - may no longer hold true in all cases.

Did other readers get the same call? If so, how did it go? What did they tell you? Did they offer you any compensation? I know that at least Brian was able to negotiate a dining credit as part of this downgrade so it's not a total loss.

Vegas Gang #23 is online: http://www.vegasgangpodcast.com

This time around we cover:

* Mirage Volcano Reborn (Photos: here
* Encore Suites at Wynn Las Vegas Opens December 22nd - http://www.encoreopening.com
* Nevada Gaming Numbers from October 2008
* Las Vegas Marathon

Feel free to leave any comments below.

I was able to catch the media event for the rebirth of the volcano at The Mirage last night.

Photos from the event are here. A video is embedded after the jump.

I loved the new setup. It's so much more fun than the old version. Not only is there more fire and better music but the entire structure just looks much cooler - the rock is more natural looking and 'veins' of lava even show up when it's blasting.

The 'FireShooters' that WET Design built for this project are custom - part of the high cost is due to investing in new technology to make it one of a kind.

After being a sorta 'bleh' attraction for some time, I think this is now near the top of the list of recommended things to check out on your next trip.

For those interested, there are also a bunch of Encore and WLV photos in the gallery as well.

We've been alluding to our upcoming coverage for the opening of Wynn's Encore for some time and now we're spilling the details.

I'm proud to announce that we're teaming up with my esteemed colleague, Mr. Chuck S. Monster of VegasTripping.com to bring you coverage that will be the next best thing to being there.

We will both be 'twittering' (or is it 'tweeting'?) via Twitter, posting copious amounts of photos on Flickr and recording our observations for what I'm certain will be multiple blog postings. You can post your questions to our Twitter streams and we will do our best to answer them right from the casino floor.

To make it easier on your inner-Vegas-addict to keep up with everything, we're compiling it all in one place:

http://www.encoreopening.com

That's your one stop shop for all things Encore. The page updates itself so when the gates open, you can sit back and let the sweet nectar flow. See Chuck's note on browser compatibility here. His recommendations are seconded from this corner as well.

There's been some talk about doing a special 'Vegas Gang' episode and while the logistics of how possible that will be are not yet clear, rest assured that we will be getting everyone's opinion on Encore out to you as soon as humanly possible.

Mike_ch is back with his latest Strip Walk. This one is more in 'trip report' style as he was slummin' it down on The Strip for a few nights at The Grand.

It's a long one so grab a cup of coffee and sit back.

http://photo.ratevegas.com/keyword/stripwalk

Robin Leach has come forward with a couple of supposed Wynn Las Vegas / Encore updates.

First is that Wynn wants to do a BeeGees musical at Encore, which may or may not be called 'Stayin' Alive'.

http://vegasdeluxe.com/blogs/luxe-life/2008/dec/01/exclusive-news-steve-wynn-and-bee-gees-plot-emstay/

Second is that supposedly Wynn will break ground on a 4,000 seat 'Wynn Arts Center'.

http://www.lasvegasweekly.com/blogs/luxe-life/2008/dec/02/steve-wynn-plans-4000-seat-arts-center-new-encore/

I assume this would have to be out on the golf course side of things as there's little space elsewhere.

I should note that Leach has not always been the most reliable in the past. As some commenters suggest, it might be prudent to see what unfolds here.

It IS a difficult balancing act, cost control vs customer service. If the holiday season ends with a slow New Year's, the Strip's strategy of superior customer service may have to be rethought, but what is the tipping point at which customers rebel?

"In recent months, the profits of several big casino operators have fallen faster than revenue, or total sales before expenses. It's a sign that the companies have not cut costs deeply enough to offset the decline in their business.
On the Strip in the third quarter, MGM Mirage's revenue fell 9 percent, and earnings declined more than 15 percent over the same period in 2007; Harrah's Entertainment's revenue declined 12 percent, and earnings fell 17 percent over the same year-ago period."

Cutting Costs vs Serving Customers

The Mirage volcano will be officially reborn on December 8th but they've been testing the new setup for the past few days.

If you want to see a video of what we're in for, click below:

http://www.youtube.com/watch?v=snXPGF0BrAI

I'll be in Las Vegas on the 8th to see it for myself and report back.

It's official - Jim Murren has been moved into the CEO and Chairman slot at MGM Mirage.

http://phx.corporate-ir.net/phoenix.zhtml?c=101502&p=IROL-NewsText&t=Regular&id=1228030&

No one needs to repeat that this is a very tough time for business on The Strip and Murren will not have an easy time of it.

Now, does this mean anyone ends up leaving MGM? Does Bobby Baldwin stay? Who gets the now-vacant COO job?

Update: Lanni has declined even a seat on the board. Odd. http://www.lvrj.com/news/breaking_news/35155994.html

Matthew Farley, author of "Good Food, Good Whiskey, and a Good Gamble: Outdated Nostaligia or Still Effective Today?" was kind enough to write up and share his thoughts after attending G2E in Las Vegas.

This dovetails nicely with yesterday's Vegas Gang coverage of the event.

Thanks to Matthew for sharing his insights - I'm sure you'll all enjoy this.

Click through for more...

Vegas Gang #22 is online: http://www.vegasgangpodcast.com

This time around we cover:

This is a special episode, focusing on the annual G2E gaming conference.

Feel free to leave any comments below.

Also, please consider voting for us in the Trippies!

Mike Ch is back with another Strip Walk. Click through to enjoy.

As usual, there are some photos included but this time around you'll see the debut of our new photo gallery. Gone (hopefully) are the days of duplicated photos, strange bugs and error messages. It's still being tweaked so let us know if you find problems but generally I think it's a nice improvement.

The new gallery is here: RateVegas.com Photo Gallery

Lastly, if you read Mike's prose you will see he's soliciting photo and recon requests from you guys for his next trip. Please respond in the comments here.

The Las Vegas Business Press sent a reporter in to City Center to work as a construction hire for three days. The write up is here:

http://lvbusinesspress.com/articles/2008/11/17/news/iq_25074122.txt

Vegas Gang #21 is online: http://www.vegasgangpodcast.com

This time around we cover:

* Terry Lanni to Leave MGM Mirage
* Las Vegas Sands Financial Woes Continue
* Should the Nevada Gambling Age Be Lowered to 18?
* WSOP Changes This Year

Feel free to leave any comments below.

Also, please consider voting for us in the Trippies!

Terry Lanni, MGM Mirage's chairman and CEO, is planning to retire at the end of the month.

Jim Murren, COO, is being recommended for the job.

http://www.lvrj.com/news/breaking_news/34422724.html

Whoa... Didn't see this coming. End of the month? That's not much time for a transition. Is he sick? Hopefully not [ED: a memo to employees says it is not health related].

I can't imagine majority shareholder Kerkorian would toss him during such a tumultuous time. They've worked together for ages... It must be something else... The timing is just so strange.

Update: MGM Mirage press release here:
http://phx.corporate-ir.net/phoenix.zhtml?c=101502&p=IROL-NewsText&t=Regular&id=1226453&

We're discussing this on the Vegas Gang, which will be out later today.

UPDATE: The Wall Street Journal is reporting there are some questions about his MBA from USC as the school could not verify the degree.

http://online.wsj.com/article/SB122661583489225999.html?mod=testMod

After posting fairly dismal third quarter results today, Las Vegas Sands indicated that it should have deals in place by the end of the week that will give it access to over $2 billion in new capital.

The company recently informed investors that it was in danger of breaching debt covenants due to leverage issues.

The company is suspending part of its ongoing Cotai Strip development in Macau to focus on its two other projects: Marina Bay Sands in Singapore and Bethlehem, PA casino project. The St. Regis condo project on the Las Vegas Strip will also be suspended.

http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20081110&id=9365806

http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/11-10-2008/0004922432&EDATE=

The LV Sun has an interesting article about the possibility of shifting the gaming age from 21 to 18 in Nevada in an effort to stimulate an industry that's hurting.

A few episodes ago, we discussed potential regulatory changes in gaming as a response to the economic crisis, though we focused on allowing strip clubs in casinos, the general concept is the same - will changes in regulation be sped along due to cash problems?

http://www.lasvegassun.com/news/2008/nov/07/idea-floated-lower-state-gambling-age-18/

Harrah's earnings took a hit, as expected.

From the Sun: http://www.lasvegassun.com/news/2008/nov/07/harrahs-sees-fall-third-quarter-earnings/

The RJ says they are going to work on cost cutting: http://www.lvrj.com/business/34137664.html

Also, from a newer blog that Dave Schwartz clued me in on, some info on AC layoffs: http://www.gamingatlantic.com/index.cfm/2008/11/7/Atlantic-City-Blues--good-news-too

As required by law, Las Vegas Sands filed a disclosure statement with the SEC today that indicates the company may not be able to maintain required leverage ratios which could put it in danger of a default.

A default could potentially lead to other action such as bankruptcy, though the company did not use that term in its filing.

Will Sheldon Adelson lend the company more money? Is he in a position to do so?

Will we see cuts at their resorts, in either staff or service?

http://www.lvrj.com/news/breaking_news/34023824.html

UPDATE: The Las Vegas Sun has more:

http://www.lasvegassun.com/news/2008/nov/06/las-vegas-sands-may-miss-covenant-requirements/

Last night was the opening of the new Cirque du Soleil show 'CRISS ANGEL Believe' at Luxor. The show features illusionist Criss Angel's magic combined with the artistry that we know from Cirque.

Well, it seems that CDS' run of perfection may be over, at least if they don't end up completely re-working the show that premiered last night.

Many of the reviews are in and they're not great.

http://www.lasvegassun.com/news/2008/nov/01/illusion-elusive-angels-believe/

A friend said he had heard that Caesars Palace has mothballed the entire Centurion Tower due to lack of demand. Centurion Tower is 14 stories and opened in 1970. Can anyone confirm this?

Just got off the Q3 2008 call for Wynn Resorts. Final quarterly numbers are here:

Wynn Resorts Q3 Results

On the call, the company discussed it's cash position (strong), it's future outlook and plans.

Encore is scheduled to open December 22nd, though it's still not 100% clear the first date that the public will be able to book a room. We should get that information in the coming weeks.

When asked about development on Cotai, Steve Wynn stated that they were waiting to see evidence that the current supply in Macau had been absorbed properly and at that time they'd proceed on that front. With The Venetian and Four Seasons on Cotai, the market does seem to be struggling somewhat to support the new properties, with the visa restrictions contributing to that.

It sounds like Wynn Resorts is in no hurry there - they plan to build what they describe as the world's most amazing resort and one would assume anything that fits that description will stand the test of time.

On the topic of purchasing perhaps distressed gaming assets, that pretty much was shot down - Wynn likes to build, not buy.

Overall, quite a bit of confidence from the principals.

Updated: As of this morning, Encore is accepting reservations from opening night (December 22nd). Yours truly will be there that first night, reporting all the details... We'll have photos, blog updates and live twittering.

Vegas Gang #20 is online: http://www.vegasgangpodcast.com

This time around we cover:

* Trippies 2008
* Gaming Stocks Slide
* Bellagio Turns 10 To Little Fanfare
* How MGM Mirage and Harrah's Market

Feel free to leave any comments below.

MGM Mirage announced their 3rd quarter results for 2008:

http://phx.corporate-ir.net/phoenix.zhtml?c=101502&p=IROL-NewsText&t=Regular&id=1219027&

and

http://www.lvrj.com/news/breaking_news/33503729.html

Profits are way down from the year ago quarter. MGM Grand Macau is doing a bit better and Bellagio had an unexpected uptick but generally, they're feeling the pinch as you can see in the figures.

This RJ piece indicates that Boyd Gaming is not sure when construction on their halted Las Vegas Strip project, Echelon, will resume.

http://www.lvrj.com/news/breaking_news/33468339.html

BYD reported its earnings today (not great) and yesterday we got news that retail operator General Growth Properties is trying to sell off Las Vegas assets because it can't make the mortgage payments. Crazy times indeed.

After finally getting temporary certificates of occupancy for part of the structures at Encore, planning for the opening is starting to firm up.

We're hearing that Wynn Resorts staff can now start to use the hotel tower and new convention rooms with more to come as other areas are completed.

The other tidbit that's starting to leak out is that instead of a grand opening for Encore like the sort we're used to, the Company may opt instead to have a gala birthday celebration for Steve Wynn (his birthday is January 27th) to celebrate the opening of the hotel.

Yesterday Wynn Resorts put out a press release that once again mentioned that the hotel was taking reservations from January 12th onward. It's still not clear if we'll see any customers occupy the hotel before then.

The hotel has been taking reservations for weeks already but it's funny to see a bunch of news organizations parrot the press release and announce that the spigot has been opened.

Mike Ch is back with another Strip Walk. This one covers Encore, Treasure Island, City Center, The Mirage, Palazzo and more.

Photos are here:
http://www.ratevegas.com/photo/gallery/october2008

Thanks Mike! Enjoy!

In what should come as a surprise to no one, Tropicana Entertainment has confirmed that the plans that would have put 10,000 rooms on that site are dead and any future development could be seven years away.

http://www.lvrj.com/business/31224039.html

It's good to hear they want to put some money into much needed maintenance but if they think that putting a food court by the pool is going to turn this place around, they're insane.

David McKee posted this story today about potential financial problems at Harrah's Entertainment:

http://www.lasvegasadvisor.com/blogs/dmckee/index.cfm/2008/10/16/SOS-Harrahs

We also covered this at length in today's Vegas Gang episode that will go up in a day or so.

Dave Schwartz reminds us that 10 years ago today, Bellagio opened:

http://www.dieiscast.com/2008/10/15/happy-birthday-bellagio/

Pretty amazing it has already been ten years - and the place still looks great and is always one of the top earners in town.

Frank Rosenthal, the inspiration for the character played by DeNiro in the movie "Casino" has died at age 79.

Rosenthal was a Stardust casino executive before it was seized by the FBI. He was a legendary bookmaker that was banned from Nevada casinos as a member of the 'Black Book'.

http://www.lvrj.com/news/30982809.html

Wynn Resorts decided to release preliminary third quarter results today at the close of the market.

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1208899&highlight=

At a glance it seems that Wynn Las Vegas will either squeak by with a $2 million profit or post a small $2 million loss. This is down from $35.8 million in the year ago quarter. Part of this is pre-opening expenses but mostly it sounds like lower EBITDA.

WLV ADR is down by $10 from the year ago quarter.

Wynn Macau is expected to clock in between $57 and $63 million, way up from the $39.2 million in the year ago quarter.

They're not offering much guidance given the economy and the Macau visa restrictions.

It seems like once again the Macau property salvages the earnings. The company reported having $1.7 billion in cash.

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

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.

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

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.

Vegas Gang #18 is online here: http://www.vegasgangpodcast.com

This time around we cover:

* Las Vegas Web Roundup
* Tropicana Resorts Update
* Adelson Lends to Sands
* Sports Book Betting

Feel free to leave your comments below.

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.

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/

Here's an item posted on LVA that talks about the possibility of the iconic Circus Circus Las Vegas marquee coming down to make room for some rides.

http://www.lasvegasadvisor.com/whatsnews.cfm#3636

I get the fear just thinking about that thing.

Cirque's Criss Angel show has been taking some hits. Any reaction from Vegas locals?
Does Criss Angel's Cirque du Soleil Show at the Luxor Really Suck That Much?

LA Times Preview

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

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

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.

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/

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.

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

A big thank you and congratulations to Sean, the author of this excellent trip report featuring a stay at Wynn Las Vegas. You sir, are a class act, putting all of this together.

This is a very fun story that I can pretty much guarantee will make you smile. It even includes a special guest appearance by Steve and Elaine Wynn!

Keep reading after the jump for more...

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

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.

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.

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

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.

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.

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.

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

Regular reader motoman has been kind enough to share with us a report of a recent trip. Here's Moto:

"What follows is a fairly lengthy report about a fairly mundane trip (certainly not up to Mike E standards, but then, who could top that? ;-) It's roughly chronological but each paragraph has its own subject, so feel free to follow along, skip ahead, or skip completely as you prefer, after the jump."

Mike Ch is back again with his Strip Walk column. This time around, he shows us what's going on at The Mirage, Bellagio, City Center, Caesars and more.

Personally, I think that new entrance at The Mirage looks terrible - that sign is totally out of place.

Photos:
http://www.ratevegas.com/photo/gallery/july2008

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.

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.

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.

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

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.

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/

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/

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.

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

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

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...

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!

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

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.

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. :-)

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)

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 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

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.

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.

The latest episode is live - check out our discussions here:

http://www.vegasgangpodcast.com

Comments welcome below...

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

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 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.

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.