Vegas Sucks Now!!!

[Heim]

Las Vegas has way over built. Mountains Edge, SW Vegas, Enterprise, businesses are on top of each other.

Driving down LV Blvd South we counted 9-10 different food places literally within 2 football fields of each other.

My old neighborhood off Decatur and Blue Diamond is unrecognizable.

Vegas is going to have a big problem with corporate landlords. They'll keep rents high and reduce inventory for families that want to buy in decent locations.

 

[sharky99]

Was looking at the Strat’s website since they are really advertising a lot, $11 for a beer. If they are $11, what is Caesers charging?

Lots of negative comments expressed to me in recent months from various travellers that have visited the strip.

 

[Heim]

Vegas had the right model....then they started to believe in the too big to fail concept.

 

[winkyduck]

Vegas had the right model....then they started to believe in the too big to fail concept.

Next time there is a recession - Vegas is gonna be stung almost as bad as the last time - if not worse

 

[Viejo Dinosaur]

1975-1995….the glory years of Las Vegas….

Just a fact….everyone who lived there had each others back….

Casino Managers took care of the whales and locals…

Sports Book Managers and Pit Bosses knew your name….

 

[Sportsrmylife]

Las Vegas has way over built. Mountains Edge, SW Vegas, Enterprise, businesses are on top of each other.

Driving down LV Blvd South we counted 9-10 different food places literally within 2 football fields of each other.

My old neighborhood off Decatur and Blue Diamond is unrecognizable.

Vegas is going to have a big problem with corporate landlords. They'll keep rents high and reduce inventory for families that want to buy in decent locations.

Henderson is a great area to live in. I can't tell you how it compares price wise with Summerlin but it is very clean and easy to get around with lots of shops and good food places.

 

[Sportsrmylife]

Prices are going up yet the reports are that las vegas saw an increase in attendance in 2023

The fact is that people come to Vegas to spend money and to be someone they aren't.

You can't put a price on that

 

[Viejo Dinosaur]

Prices are going up yet the reports are that las vegas saw an increase in attendance in 2023

The fact is that people come to Vegas to spend money and to be someone they aren't.

You can't put a price on that

Credit Card companies love those tourists

 

[Sportsrmylife]

Credit Card companies love those tourists

You see slips on the crowd for $40 withdrawn and paying $5 -$10 in fees

 

[railbird]

Las Vegas has way over built. Mountains Edge, SW Vegas, Enterprise, businesses are on top of each other.

Driving down LV Blvd South we counted 9-10 different food places literally within 2 football fields of each other.

My old neighborhood off Decatur and Blue Diamond is unrecognizable.

Vegas is going to have a big problem with corporate landlords. They'll keep rents high and reduce inventory for families that want to buy in decent locations.

china owns vegas

 

[Neveragain]

There are many profiles for Vegas visitors.
My sister and her husband are not gamblers but they are very sociable.
They went to Vegas with friends a couple years before Covid.
They found everything overpriced. They didn’t find value in anything. They were astonished by the resort fees.
They haven’t been back and they probably won’t ever be back.

On the other end of the spectrum of Vegas visitors are the quintessential degenerates.
They will play pit games like 6/5 blackjack or triple zero roulette.
They will pay an excessive premium to dine at Gordon Ramsey or Wolfgang Puck.
These people will devour Vegas experiences with unabated fervour.
They will return to Vegas on a regular basis to get rinsed by the strip properties over and over.

These are the same people H.L. Mencken refers to when he said
“nobody ever went broke underestimating the intelligence of the American people”.
These are the people Vegas preys on. And they’re pretty good at it.

 

[Heim]

Penn National lost 490 million last year. I wouldn't be surprised if 'The M' goes on the auction block soon.

If South Point's Gaughan was smart he'd try and buy it and control the South end.

 

[Neveragain]

Penn National lost 490 million last year. I wouldn't be surprised if 'The M' goes on the auction block soon.

If South Point's Gaughan was smart he'd try and buy it and control the South end.

Would be surprised to see Gaughan making any moves to expand.

In a podcast interview years ago, Gaughan shared with listeners that the first thing he did after getting power of attorney from his father
was to sell off all of his father’s properties and consolidate operations at the Southpoint.
His strategic vision at the time was clearly in favor of focusing on the Southpoint property
ensuring good ‘in house’ leadership, controls, and management systems.

Also, with Stations new Durango just 20 minutes away, Gaughan has enough to worry about.
Gaughan is 81 next month. Not sure he’s looking to grow his empire at this juncture.
***** And his son Brendan, a professional race car driver, is almost 50. ********
( Fact check, Gaughan has 4 children, 2 sons, two daughters and besides Brendan, all work at Southpoint. Apologies to all)

 

[skinny]

There are many profiles for Vegas visitors.
My sister and her husband are not gamblers but they are very sociable.
They went to Vegas with friends a couple years before Covid.
They found everything overpriced. They didn’t find value in anything. They were astonished by the resort fees.
They haven’t been back and they probably won’t ever be back.

On the other end of the spectrum of Vegas visitors are the quintessential degenerates.
They will play pit games like 6/5 blackjack or triple zero roulette.
They will pay an excessive premium to dine at Gordon Ramsey or Wolfgang Puck.
These people will devour Vegas experiences with unabated fervour.
They will return to Vegas on a regular basis to get rinsed by the strip properties over and over.

These are the same people H.L. Mencken refers to when he said
“nobody ever went broke underestimating the intelligence of the American people”.
These are the people Vegas preys on. And they’re pretty good at it.

Spot on.

 

[Heim]

There are many profiles for Vegas visitors.
My sister and her husband are not gamblers but they are very sociable.
They went to Vegas with friends a couple years before Covid.
They found everything overpriced. They didn’t find value in anything. They were astonished by the resort fees.
They haven’t been back and they probably won’t ever be back.

On the other end of the spectrum of Vegas visitors are the quintessential degenerates.
They will play pit games like 6/5 blackjack or triple zero roulette.
They will pay an excessive premium to dine at Gordon Ramsey or Wolfgang Puck.
These people will devour Vegas experiences with unabated fervour.
They will return to Vegas on a regular basis to get rinsed by the strip properties over and over.

These are the same people H.L. Mencken refers to when he said
“nobody ever went broke underestimating the intelligence of the American people”.
These are the people Vegas preys on. And they’re pretty good at it.

And along those lines, I got little comped from hotel marketing when I lived there. Now in Cali, I get a ton of offers

 

[blueline]

a little from the MGM CEO about the F1 race:

With respect to the F1 race in November, MGM sees profitability from this event “modestly better” as it tailors pricing more effectively to mid/low-end consumers and increases engagement outside of the main race event, Greff said.

“We’ve had extensive conversations with them,” Hornbuckle said of F1. “We all got very aggressive last year, from Bellagio down to Excalibur, not knowing how ticket sales would come in. Now tickets are going on sale again. Places farther away from the track at the south end of the Strip won’t be at the same rate structure as last year. What ended up happening was the crowd that came was great and we did very well, but the south end of the Strip and downtown were hurt by it. It’s the only citywide event I can remember in decades that didn’t help the totality of the city. We think we structured this thing differently —single-day versus three-day tickets, cheaper tickets. The way we all think about rooms and packages is different. We’ll go into this with a different mindset that will be productive for us.”

 

[mr merlin]

a little from the MGM CEO about the F1 race:

With respect to the F1 race in November, MGM sees profitability from this event “modestly better” as it tailors pricing more effectively to mid/low-end consumers and increases engagement outside of the main race event, Greff said.

“We’ve had extensive conversations with them,” Hornbuckle said of F1. “We all got very aggressive last year, from Bellagio down to Excalibur, not knowing how ticket sales would come in. Now tickets are going on sale again. Places farther away from the track at the south end of the Strip won’t be at the same rate structure as last year. What ended up happening was the crowd that came was great and we did very well, but the south end of the Strip and downtown were hurt by it. It’s the only citywide event I can remember in decades that didn’t help the totality of the city. We think we structured this thing differently —single-day versus three-day tickets, cheaper tickets. The way we all think about rooms and packages is different. We’ll go into this with a different mindset that will be productive for us.”

I cant imagine 3 day tickets for a 2.5 hr race, only the most hard core fans would be interested in watching practice where I assume it's just one car driving around.

 

[blueline]

Supposedly now at every CET property in vegas there is one bar where drinks are not comped.
A test to see if revenue drops at the test bars...if not expand it to more bars?