News often happens for a reason. Sure there’s news in Las Vegas all year long but there are a few times a year we hear official announcements from large casino companies.
Corporations like MGM Resorts, Caesars Entertainment, Boyd Gaming, Red Rock Resorts (Station Casinos), etc. post quarterly earnings every three months. Corporations use earnings calls and reports to review the previous quarter and share information on future plans. We’re about to enter casino earnings season. Casino corporations will look back at their fourth quarter (October, November and December) and annual (2018) performance. They will also highlight plans for this year and the future. One company is off and running already.
MGM Resorts Earning Preview
MGM Resorts recently announced their earnings call for February 13th. Their less interesting Real Estate Investment Trust (REIT), MGM Growth Partners, will report earnings the next day. You can listen if you’re curious about casino operations. The company is making some announcements ahead of the earnings calls to get investors pumped up about business. The most interesting news is that they will redevelop the strip frontage at MGM Grand. This has been a rumor for a while but makes sense now that the transformation of Park MGM is complete.
MGM Grand will “blow out its west wing”
According to Fox 5 Las Vegas, MGM Grand will “blow out its west wing” and “redo the dome area next to Hakkasan, the Level Up gaming area and the sports book as part of the renovations.” I expect to hear more on the earnings call. The goal of the renovations is to attract people to walk into the casino. Not coincidentally, these changes will be close to the new bridge that leads guests from Park MGM to MGM Grand. Currently, Park MGM guests have to walk all the way to New York-New York to reach a bridge that connects to MGM Grand. The MGM Grand renovation rumors were put on the backburner when construction on the football stadium near Mandalay Bay started.
Rumors Have Been Floating Around
Rumors have been floating around for a couple of years that there would be new bars and restaurants at Luxor or Mandalay Place. The mall between Mandalay Bay and Luxor is walking distance to the football stadium. Perhaps we’ll hear some news about that on the earnings call. New board member: MGM Resorts announced a new board member this week. Keith A. Meister is part of an activist investment hedge fund. He’ll bring some new perspective on how to operate the company to make it more profitable. You can read more about the activist investors and MGM Resorts here. Expect to hear more from MGM Resorts over the next few weeks.
Super Bowl At Caesars Las Vegas Properties
We’ve been sharing a few Super Bowl parties each week leading into the Big Game. Caesars is paying the NFL $30 million a year for a marketing partnership that includes using the name Super Bowl. Somehow that news hasn’t reached the Caesars PR department who lists where guests can celebrate “The Big Game” at their properties.
Regardless of the name, there is a slew of places to watch the game. Super Bowl Sunday is one of the busiest days in the Las Vegas sports books. Getting a seat in a Las Vegas Sports Book is nearly impossible unless you arrive hours before the game or pay for a reserved seat.
PARTY #LIKEACAESAR
The Caesars Palace sportsbook probably has some of the most expensive reserved seat prices in Las Vegas:
- Regular seats: $418.91 (includes 3 drink tickets)
- VIP seats: $718.13 (unlimited booze)
- Behind the sports book bar: $107.72 (2 drink tickets)
There is nothing like being in the sports book for big games. However, the Super Bowl is different because there are so many people into the game. Some of the private parties can be as much fun as watching in a sports book. I recommend funding a mobile app if you’re in Las Vegas for the Super Bowl. The lines to bet are way too long to stand in throughout Super Bowl weekend. Since we’re discussing the Super Bowl, the Westgate will release their long list of Super Bowl prop bets at 7 o’clock on Thursday. They’re usually the first to release prop bets for the Big Game.
Uber/Lyft/Taxi Kickbacks
I learned a long time ago not to ask taxi drivers for recommendations on which adult establishment to visit. They have an incentive to recommend certain venues. Ultimately, drivers will try to bring guests to the place that pays them the best kickback. Since marijuana became legal in Las Vegas, the dispensaries have been offering Uber, Lyft, and taxi drivers similar kickbacks.
Whether you’re asking for tips on strip clubs or dispensaries, you’re usually going to be steered toward the venue willing to pay the driver the most money per person they deliver. These kickbacks are no joke. When I first started visiting Las Vegas the price was $20 per head. Thanks to inflation and greater competition, that kickback can be as much as $80 per person dropped off. Drivers can make more money from dropping off one car of dudes at a strip club then they’ll make all night. Do research before hopping into a car and going to a dispensary or strip club. This article has some interesting information if you’re not aware of the kickbacks.
Quick Hits
Besides the MGM Grand news, there hasn’t been too much big news this week. Here are some highlights of news in and around Las Vegas. One note before we get into the remaining news: Casinos are starting to provide win/loss and W2G’s on their websites. Check your favorite casino if you need any tax documents for filing.
- Drake is doing a residency at XS nightclub inside Wynn and making a lot of money. Read more here.
- Speaking of entertainment at Wynn nightclubs, they just announced their DJ lineup for the year. Read more here.
- While we’re at it, Hakkasan Group announced their resident DJ’s at MGM Grand and at Omnia at Caesars Palace. Read more here.
- Remember when On The Record at Park MGM was going to bring a new twist to nightlife in Las Vegas? That ended quickly. They’ve signed a DJ to drop sick beats like every other nightclub in Vegas. Expect more announcements. Read more here.
- Celestia at the Stratosphere has pushed back their opening to Feb. 27.
- This $30 resort fee at this hotel in Los Angeles comes with breakfast. That’s would be a solid addition to the fees in Las Vegas. Large coffee and a muffin cost about $10. That’s at least some kind of value. Read more here.
- Jeff Civilico signed a two-year extension to perform at Paris Las Vegas. This is an all-ages show if you’re the kind of person that brings children to Las Vegas. Read more here.
- Remember when the “I Love The 90’s” show at Paris went on hiatus last year? We told you don’t expect it to return. Well, the show is closed for good. Read more here.
- Public House at The Venetian is closed. Too bad. I’ve enjoyed a few good meals and beers there. Read more here.
- The Bronx Wanderers are moving to The Linq. Read more here.
- Blue Ribbon Sushi is finally opening this week at Red Rock Casino. Read more here.
- Saul Canelo Alvarez won’t have a rematch with GGG on Cinco De Mayo weekend in Vegas. He’ll be fighting Daniel Jacobs. The venue is still TBD but this fight is usually in Las Vegas. Read more here.
- Lucky Dragon might be purchased. It also might not have a casino if it reopens. Read more here.
- Lotus of Siam is opening a new location on my side of Las Vegas. Read more here.
- The Las Vegas Raiders are offering partial refunds to some PSL holders. Read more here.
- Punk Rock Bowling is May 24-May 27 this year. The big shows will take place at the Downtown Las Vegas Events Center. I’m not quite the punk that some people are but this is a great time to hang out in downtown Las Vegas. Everyone is having fun and just wants to drink beer and rock out. Check out the lineup below.
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