Vegas News January 19th 2020
It’s always strange writing Vegas News when I’m not in Vegas. I spent the weekend in Los Angeles so the bulk of my research happened in a foreign city.
This trip marked the first time I flew JSX. The semi-private airline only flies to a few cities on the west coast. The person I met in LA said it was probably their favorite flight of all time. I can’t go that far because I’ve had a few absolutely amazing flights. That said, the flight was fantastic. I’ll share my experience flying JSX to and from Las Vegas to Burbank Airport in Los Angeles shortly. Here are a few pictures in the meantime.
Let’s get to the Vegas News!
MGM Resorts Sells MGM Grand and Mandalay Bay
MGM Growth Properties announced the sale of MGM Grand and Mandalay Bay to Blackstone Real Estate Income Trust (BREIT) this week. Additionally, BREIT is purchasing $150 million in MGP Class A shares. This is similar to the Bellagio sale but even more of a real estate deal since it involved MGM’s real estate income trust (REIT).
MGM Resorts Still Operates – Mlife Rewards Remains
MGM Resorts will continue to operate both properties under a long-term lease. Both will remain part of the Mlife Rewards players club.
This sale was expected and there are more Las Vegas casino sales still in the rumor mill. Penn National Gaming (PNG) is still expected to sell Tropicana. PNG will report earnings on February 6, so we should hear details on this sale shortly since casino corporations like making big announcements around earnings.
MGM Resorts Still Considering More Sales
MGM Resorts is still considering selling Aria, Vdara, and MGM Springfield. Look for more developments as the year moves forward. Of course, Caesars will eventually sell at least one of its Vegas Strip properties in the future. Keep your eyes peeled to the Vegas News because there should be more wheeling and dealing soon.
Real estate deals bore me so I recommend you check out the press release for specifics of the sale.
Red Rock and Green Valley Ranch Upgrades
This week Station Casinos announced that they recently upgraded the hotel rooms at Red Rock Casino and suites at Green Valley Ranch. The company upgraded 700 hotel rooms at Red Rock Casino Resort & Spa with modern desert-inspired décor. Each room now has a new color pallet, 65-inch high definition TV, RFID room key technology, and expanded WIFI coverage. The Signature Suites also have as a pull-out sleeper sofa.
Green Valley Ranch has newly renovated suites. As you’d imagine, The Strip and Presidential Suites both look beautiful. You can read more about the upgrades at GVR here.
TravelZork This Week
Hunting For The Best Happy Hour in Las Vegas at Cleaver
#NewCaesars Continues To Take Shape
The merger between Eldorado Resorts and Caesars Entertainment is moving along nicely. This week each company sold a property to pair down the total number of casinos Caesars will operate after the merger is completed later this year.
Caesars and VICI (Caesars’ REIT) sold Harrah’s Tahoe. The property will be renovated and no longer operate as a casino.
Eldorado Resorts entered into an agreement to sell Eldorado Resort and Casino in Shreveport, Louisiana to Maverick Gaming for $230 million in cash. Shortly after the deal was announced, Eldorado Resorts received approval from the Louisiana Gaming Control Board in connection with its pending acquisition of Caesars Entertainment. You can read a brief statement here.
The merger between the two companies should be done by the end of the second quarter, if not sooner.
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Quick Hits – Vegas News
As I mentioned earlier, I’m in LA for a long weekend so this week’s Vegas News roundup will be relatively brief. Here are some quick hits of Vegas news that you can use!
- The Scorpions officially have a Las Vegas residency at Planet Hollywood. The Queensryche cover band (only 3 of 5 members are from the original band) is opening. Read more here.
- The M&Ms store next to MGM Grand and across the street from Aria just got an upgrade. Read more here.
- Caesars reps are going around the country to promote the new Caesars Forum conference center. It’s gonna be an immersive conference party! Read more here.
- Binion’s is teasing a special announcement in a few days. I’m pretty sure it’s about this hypnosis show. Read more here.
- The Boring Company is about 50% done with the people mover tunnel at the Las Vegas Convention Center. Read more here.
- Wet Republic at MGM Grand is being renovated in time for its summer opening. See and read more here.
- You can bet on the XFL in Vegas! Caesars Palace Las Vegas already posted futures odds for the season. Check them out here.
- Hyatt now has a partnership with Headspace. I love this app and would like to see some Las Vegas hotels offer similar products to their guest. Read more here.
- DraftKings doesn’t offer DFS in Nevada. They don’t have a sports book in Nevada either. However, the company has an office in Nevada. Read more here.
- You love robots. Wynn is using them to serve drinks at Encore Boston Harbor. How long until they’re in Las Vegas? Read more here.
- Wynn Las Vegas is getting a NutriDrip IV location. Read more here.
- Allegiant Stadium is having roof problems. Read more here.
- The Vegas Golden Knights fired their coach. Read more here if you care.
- MGM Resorts signed a sports betting deal with the National Lacrosse League. Read more here.
- NASCAR hauler parade will be in Las Vegas on February 20. Read more here if you like big trucks and fast cars.
- The Cosmopolitan has a slew of Super Bowl parties. Read more here.
- RIO All-Suite Las Vegas Hotel and Casino is 30 years old. It doesn’t look a day under 90! Read more here.
- John Mehaffey shared some info from his blackjack survey of Las Vegas this week. Nearly half of the blackjack tables in Las Vegas pay 6/5 on a natural blackjack. Read more here.
- Hey, the Las Vegas Raiders have a YouTube series. Check this out.
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