Super Bowl In Las Vegas
Almost Super Bowl
This is the last Vegas News before the Super Bowl so let’s start with a MASSIVE list of Big Game parties. This almost Super Bowl information should be useful for anyone visiting Las Vegas for the Super Bowl but don’t have plans year. Here’s a list of Super Bowl parties at Boyd Gaming casinos if you’re a fan of their properties. These aren’t on the big list yet. The folks behind the Vegas Big Game group on Facebook have been compiling this list of Super Bowl parties and reserved seating at some of the sports books. Even though sports betting is legal in other states now, it isn’t quite dead in Nevada.
Expecting Another Record-Breaking Year
Sports book directors in Las Vegas are expecting another record-breaking year for the amount of money bet on the Super Bowl. You can read more about the money wagered on the Super Bowl here. If prices are an indication of demand there doesn’t seem to be less interest in Super Bowl parties and reserved seats than last year.
Prices for everything are similar if not a little more than last year. More states will be legalizing sports betting this year. If there’s a drastic shift away from Las Vegas for sports betting we might see it in 2019. For the time being, prices are stable and the national interest in sports betting only seems to be increasing interest for locals and tourist.
The next major weekend for the sports books is the first weekend of the NCAA Basketball tournament. The March Madness In Las Vegas Facebook group is a great resource if you’re planning on making a trip to Las Vegas to watch the games from March 21-24. The Cosmopolitan is home to one of the most popular March Madness viewing parties.
Once the Super Bowl is over expect to hear more party announcements. I received the press release for this year’s March Madness party at the Cosmopolitan while I was recording the Beating The Book Annual Vegas Lifestyle Show. We discuss the Super Bowl, the Las Vegas Sports Book, legal marijuana, restaurants and more. Everyone’s voice is made for 2x speed to help you get through the podcast.
Year Of The Pig
2019 is the Year of the Pig. The Palazzo (above) has lots of piggies of all sizes on display. Bellagio also has a Chinese New Year display with even more pigs if you’re a fan of the animal.
Las Vegas Visitation
Steve Hill, CEO of the Las Vegas Convention and Visitors Authority, spoke at the 2019 Preview conference last week. He had some interesting information to share about 2018 and looking forward. This preview is essentially a place to get local businesses excited about the future. Here are some highlights and trends from his discussion:
- Visitation to Las Vegas fell from 42.2 million people in 2017 to 42.1 million visitors in 2018.
- Hotel occupancy in Las Vegas fell to 88.2 percent last year. That’s another small dip from 88.7 percent in 2017 and 89.1 percent in 2016. It’s definitely a trend.
- RevPAR (revenue per available hotel room) set a record in 2018 at $113.50 per night. That’s an increase from 2017 when RevPAR was $112.78.
42 Million People
He went on to say that the number of visitors in 2019 should stay in line with 42 million people. He expects to see a spike in 2020 with multiple construction project scheduled to be completed next year. That might be a bit optimistic. If there is an increase in visitation I predict it will come in 2021. The football stadium will have a full year of events, Circa should be open, and Resorts World might actually be open by then.
There should also be an increase of convention traffic with the Las Vegas Convention Center expansion complete. You can read more about the conference here. Semi-related: The Las Vegas Sands earnings presentation is mostly about overseas business. There is one thing that stands out about Las Vegas (page 32). The ADR (Average Daily Room rate) at The Venetian and The Palazzo for the 4th quarter of 2018 was $250. Even at that high price, 91% of rooms were occupied in the quarter.
The nightclub replacing Rain at Palms Casino Resort will be KAOS. #ALLCAPS bro. The complex will include a 73,000 square foot dayclub (remember that 60’ tall sculpture) and 29,000 square foot nightclub. The layout is similar to Drai’s Beach Club with a retractable glass wall/door that will allow guests to move between the indoor and outdoor venues. The big news with the announcement are the residencies. Cardi B and G Easy will have their first Las Vegas residencies at KAOS. Skrillex and Above and Beyond will also be resident artists. The press release says to expect more announcements soon for talent. The dayclub and nightclub spaces sound cool but we can save real thoughts until there are pictures and video of the final product. Here’s the press release if you’re curious about the details.
MGM Resorts Shaking Things Up
Last week we gave you a heads up that MGM Resorts is shaking things up as they prepare to report earnings in a couple of weeks. The corporate news continues with a new ad hoc committee to evaluate their real estate. This is spawned by activist investors trying to increase profit for the company.
You can read the press release with corporate buzzwords for more information. The New York Post has an article that simplifies the corporate jargon. Bottom line here is that we can expect some kind of real estate moves from MGM Resorts in the future. The Post debunks one of their rumors that MGM Resorts will look to acquire Caesars Entertainment or VICI their REIT (Real Estate Investment Trust).
Hard Rock Cafe Guitar Sign Is Going To Neon Boneyard
The newly restored Hard Rock Café guitar sign will be transported to its new permanent home at the Neon Museum this week. The sign is currently in six pieces and reconstruction will take place at the Neon Boneyard. The resurrection of the sign will be complete on February 1. You’ll be able to see it in all of its glory the following day. You can see more pictures of the dismantled guitar here.
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