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.
Cosmopolitan Parking Fees Begin This Week
Valet fees begin April 18 and Self-Parking fees begin May 16. We know how much you love parking fees in Las Vegas so we decided to make have a separate blog post with the news. Read “Cosmopolitan Parking Fees Begin This Week.”
Rumors Of The Week
MGM Resorts International To Buy Cosmopolitan
Robin Leach is rumoring that MGM Resorts is interested in purchasing the Cosmopolitan. This isn’t a surprise as Cosmopolitan owners, Blackstone, have said that all of the changes to the property over the past couple of years are so that they could sell the casino. The price for the Cosmopolitan will be steep as Blackstone has put about $2 Billion $200 million of their own money into the Cosmopolitan after purchasing for $1.74 million. My guess is they wouldn’t sell the casino for less than $5 $2 billion.
This isn’t new, but MGM Resorts International is supposedly looking to purchase Sands Bethlehem for $1.3 Billion. Either or both properties could be a lot of money. The next rumor might help MGM Resorts International get started raising funds.
Forbidden City Palace May Be Coming To Vegas Strip
Vital Vegas says that an Asian Themed mega-resort called Forbidden City Palace could be coming to the Vegas Strip. I’m done getting too excited for the potential of new casinos in Las Vegas until I see construction get underway. There are lots of details that make this sound a lot like a stalled casino on the north end of the Vegas Strip. Some of the details sound very similar to when Genting first pitched Resorts World Las Vegas in 2013.
Assuming Forbidden City Palace is real, the potential site plan would fit nicely into land owned by MGM Resorts International. The MGM Festival Grounds is 33 acres and seems to be a perfect fit for the Forbidden City Palace plans. Coincidentally this land is next to Resorts World Las Vegas. I don’t see properties this similar being neighbors. We’ll see.
Tying The Rumors Together. Maybe?
Late last year 5.5 acres of land on the Vegas Strip was available for $160 million dollars. If prices remain similar MGM Resorts could fetch about $1 billion for the dormant 33 acres of Festival Grounds land. The sale of the land could give Forbidden City Palace a home on the Vegas Strip. The sale could also put MGM Resorts International on track to acquire financing for one of both casino purchases.
This is a stretch. I’m just trying to connect dots that may not even connect. There are lots of rumors about MGM Resorts International floating around. Check this, then this and finally this for a juicy rumor about MGM Resorts International that didn’t happen.
I’m not sure how realistic MGM Resorts International purchasing Cosmopolitan is but it’s probably as realistic as Forbidden City Palace construction beginning.
Final Shows Announced for “Piece of Me”
Sometimes the news isn’t really the news. The press release says that the Britney Spears residency called “Piece of Me” is ending and that there will be a number of new “Final Shows.” It’s entirely possible that Britney will leave Planet Hollywood. Forbes has some realistic options of what she could do next.
The cynic inside doesn’t think this is the end for Britney Spears at Planet Hollywood. My thoughts are that this whole thing is a marketing ploy and/or negotiation. The show has sold $100,000 million in tickets over four years for Caesars Entertainment.
Britney Spears supposedly earned nearly $500,000 per show. Since production is the same every night and doesn’t travel around the country her net pay shouldn’t be hurt much if that cost came out of the guarantee.
The “Britney: Piece of Me” show may really close but Britney may not be going anywhere. This could be an attempt to market the show again to sell more tickets while preparing a new residency show at Planet Hollywood to open next year. The show could have a new name, production, setlist, etc. and the closure wouldn’t be false. At the same time, the manager could be shopping a new Britney Spears residency to MGM Resorts International, another party or have a whole other idea up his sleeve.
I’m always a skeptic and the show ending just doesn’t seem to make much sense for either party.
Go Karts Coming To The Plaza!
Eater Vegas is rumoring that there may be a go kart track coming to the Plaza. The details include a location (outdoor parking lot), go kart operator (Bowman Karts), and size of the track (800 feet). This is a bit too specific to be unrealistic. The Plaza doesn’t confirm that this will happen but Eater says we could hear more as soon as this week after a Las Vegas City Council meeting on April 19.
This sounds like fun but may not be a year-round activity. Outdoor go karts in the 110-degree summer does not sound like a good time. Then again, maybe the Plaza will really generate revenue by selling more water and beer inside the casino. This sounds realistic and I expect to hear more soon.
Quick Hits
- There was a small fire at Bellagio. The fire department worked quickly and nobody was hurt. Read more here.
- Thanks to Uber and Lyft taxi fares from McCarran Airport are down 10%. Read more here.
- LAX Nightclub At Luxor To Become esports arena. Read more here.
- The NFL may fine players for participating in arm wrestling contest at Hakkasan at MGM Grand. Read and see more here.
- Impossible Burger opening at Wynn. The concept for these burgers is unique and interesting. Read more at The Daily Meal.
- T.J. Miller becomes an Ace Of Comedy at The Mirage. I love T.J. Read more here.
- Familiar retail and dining may come to Wynn Plaza when it opens. Read more here.
- Division 3 soccer may be coming to Las Vegas. Read and see more here.
- Downtown Grand will have nightly pool parties Thursday through Sunday this summer. Read more here.
- The Plaza is already upgrading their new pool deck that opened last year. Read more here.
- The “Crapshoot Comedy Festival” from May 18-20 named headliners. Read more here.
- Mel Brooks is old. You might want to see him at Wynn on June 30 or July 1. Tickets start at $75. More details here.
- Lastly, Luck Dragon has 3 different 50% off Happy Hour deals. Check it out!
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