This week will be a bit different format for Vegas News. The article begins linking to another story because you love parking and jumps right into rumors. There was so much news last week that I’m just giving a bunch of quick hits for you to read directly from the sources.
MGM Resorts International
The Cosmopolitan will begin charging for valet parking on April 18. Self-Parking fees will begin on May 16. Both visitors and hotel guests will be required to pay for parking. Las Vegas locals will have to pay as well. Here are the specifics:
The New York Post is reporting that hotel room rates during the Consumer Electronics Show (CES) in 2018 will continue the trend of “insane room rates.” I wrote about the Trump Hotel potentially adding a Vegas Trump casino…. + much more
It’s NASCAR weekend in Las Vegas, so let’s start the news at the track. There are over 100,000 people expected to visit Las Vegas for the races this weekend…… Robots Invade The Vegas Strip ? I wrote about robotic bars 2 or 3 years ago and wondered when they would be in Las Vegas. It looks as though it’s time for robot booze slingers to hit the Vegas Strip.
Average Daily Hotel Room Prices In Las Vegas Break Record. The average daily room rate is the average of all Las Vegas hotels from every day of the week and does not include resort fees, parking fees, or taxes. So, while a midweek room in downtown Las Vegas might have been $30, a hotel room during CES on the Vegas Strip might have cost $270. Together the prices of the hotel rooms averaged $150 each.
It was a good news/bad news week for the many people who prefer Caesars and Total Rewards casinos in Las Vegas. The casino operator reported earnings last week and had some interesting information to share. After reporting earnings I found, even more, information from Caesars Entertainment. That information wasn’t “interesting” but it you should hear it anyway. Let’s start with the good news.
The Borgata is next in line to become a part of the MGM Resorts International family. They didn’t reveal specifics for streamlining expenses or maximizing revenue on the earnings call. However, Borgata will become a part of the Mlife Rewards family in the 2nd quarter of the year.
It’s a very special holiday edition of Vegas News! Since I’m writing this during one of the holidays, there will be a little less opinion and observation than usual.
There was a lot of Vegas news that I’d like to discuss from last week, so let’s just hop into it. Gambling, Events and Tid-Bits
Earnings calls are boring AF. Earnings calls for casino operators aren’t entirely boring, they’re just boring. No AF. I just need to vent before diving into the MGM Resorts 3rd Quarter Earnings call this week.
These calls are intended provide information for financial investors in corporations and not for the public. I’m closer to the latter. I’m not an investor and I write for normal people that may not understand or care about the financial jargon. For the most part, I listen to these calls to see if there’s any news that mainstream news outlets don’t report or care about.