Most casino operators in Las Vegas prefer to have a revenue split close to MGM than Caesars. In fact, Caesars wants to have a revenue split closer to MGM Resorts. The two casino operators have different approaches to their companies. MGM Resorts is expanding with new casinos and a massive profit growth plan. Meanwhile, Caesars Entertainment is looking elsewhere to generate revenue.
There was so much news in Las Vegas last week that I really don’t know where to start. There weren’t any bombshells but there was a lot of interesting tidbits. I’ll try to keep the analysis somewhat brief so I can get to most of the news.
This will be an abbreviated version of news this week for the holiday. Marc needs to party too! Let’s get to it. The big news this week is that SLS Las Vegas was sold by Stockbridge to the Meruelo Group. According to the Las Vegas Review-Journal, the deal should become official by the third quarter.
Drink monitoring systems may not affect you if you’re visiting a video poker bar in a casino specifically to play video poker. It’s a different story if you’re passively playing video poker expecting complimentary drinks. The systems aren’t ubiquitous…yet.
Booking a hotel room in Las Vegas isn’t as simple as it used to be. Actually, just visiting the Vegas Strip isn’t as simple as it used to be either. The addition of resorts fees to advertised hotel room prices in Las Vegas over the years mean that your hotel room price isn’t what you’re being told it will be. But wait, there’s more! There is another fee if you plan on using a car in Las Vegas. Many casino operators on the Vegas Strip are now charging an hourly and daily parking fee for self-parking and valet. These parking fees are applicable to anyone with a car visiting or staying at the property.
First quarter earnings were great for the largest Las Vegas casino operators. New Year’s Eve bled into the first quarter. The extra day of revenue was helpful for casino operators. The year always starts with a bang. The Consumer Electronics Show (CES) is the largest convention and expo of the year with well over 100,000 attendees.
The Las Vegas Convention and Visitors Authority (LVCVA) released their annual Las Vegas Visitor Profile last week. This is a snapshot of the average visitor to Las Vegas + Renovations, Gambling and more.
There’s no topic in Las Vegas from the past year that’s drawn more ire than paid parking on the Vegas Strip. According to the most recent visitor profile, from the Las Vegas Convention and Visitor’s Authority, 57% of the people visiting Las Vegas arrive by car.
It’s quarterly earnings season where corporations share information on their previous quarter. Hopefully, some of the luxury and large casino operators will also spend some time looking forward informing up what they have in store for Las Vegas. Here are the reporting dates for Las Vegas casino operators that I’m looking forward to.
It’s the Year of the Rooster! The Palazzo decked out their atrium to celebrate the Chinese New Year. This big guy is huge and quite a sight. I prefer the display from the previous Year of the Rooster display.