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StumbleEmpty lots hurt nearby casinos on the Strip’s north end
Monday, April 5, 2010 | 2 a.m.
Map of Circus Circus
Circus Circus
2880 Las Vegas Blvd South, Las Vegas
NO FUN AT CIRCUS CIRCUS
Unlike lower-rent properties on the south end of the Strip, which have higher-end neighbors from which to draw walk-up tourists, Circus Circus is more isolated after resorts closed around it. The property was MGM Mirage’s biggest Strip money-loser.The mothballed and postponed construction projects on the Strip are making the recession even rougher on one end of Las Vegas Boulevard.
Standing between that northern section and the rest of the Strip is mostly vacant land bought by developers who tore down older hotels during the economic boom and aimed to build high-end resorts. This no man’s land contains fenced-off parcels with resorts stalled by the cratering of the economy — the exposed steel skeleton of the partially built Echelon and the empty and unfinished Fontainebleau Las Vegas. It’s an uninspiring view for tourists walking the Strip — a foreboding one, even.
Circus Circus used to be fed by pedestrians coming up its way from the New Frontier, the Stardust and Westward Ho, but those resorts are gone. The detrimental effect has been considerable, MGM Mirage spokeswoman Yvette Monet says.
The next-door neighbors that Circus Circus has left are having more than their share of economic troubles, too. Financial figures aren’t available for the Sahara because it is privately held, but the property has been closing some of its rooms now and then to save operating costs. The Riviera reported a $5.6 million loss in the fourth quarter and is negotiating with creditors to restructure the company’s debt, which may include seeking bankruptcy protection.
For that same quarter, Circus Circus was MGM Mirage’s biggest money-loser on the Strip.
After expenses, the resort posted a loss of $3.4 million in operating income. It earned only $4 million in operating income for all of 2009, down from $33.7 million in 2008.
Circus Circus is a lower-rent property, and analysts and executives say budget properties are suffering as customers upgrade to well-appointed resorts that are offering deep discounts. If tourists can pay just a little bit more to stay at a more luxurious, newer hotel, they do it.
The industry has a name for this trend: price compression.
MGM’s Excalibur also is a budget property and, like Circus Circus, tends to attract cost-conscious adults with children. Both hotels have about 4,000 rooms.
But when it comes to earnings and losses, this is a tale of two cities.
Excalibur is more centrally located on the Strip, with more walk-by traffic and proximity to higher-end hotels, and it posted operating income of $8.4 million in the fourth quarter. That’s within striking distance of the $8.9 million earned by neighboring Mandalay Bay, a much larger and more luxurious property that includes The Hotel, an upscale hotel expansion.
For 2009, Excalibur posted $48 million in operating income. That’s down from $84 million the prior year but was better than Monte Carlo, New York-New York and Luxor, which are more expensive properties with higher-end amenities.
Circus Circus and Excalibur earned vastly different amounts of a key profit indicator called EBITDA — earnings before interest, taxes, depreciation and amortization. By this measure, Excalibur earned $72.1 million against Circus Circus’ $27.1 million. Excalibur’s EBITDA fell 35 percent, which is more within the range suffered by other major casinos in the recession. Circus Circus’ EBITDA, however, fell by 52 percent.
“Excalibur can make good money because it costs less to run” than a high-end resort, said Frank Martin, a gaming analyst who has taken notice of the properties’ differing fortunes.
But Circus Circus costs less to run than a high-end resort too, despite boasting the only amusement park on the Strip.
That’s not enough nowadays, with so many budget offerings available. MGM Mirage knows this, which is why the company has been trying to cross-market its many nongambling attractions.
Circus Circus recently began offering a family package including $260 worth of discounts, with 2-for-1 tickets to family-oriented attractions at other MGM Mirage-owned resorts, such as Mandalay Bay’s Shark Reef aquarium and “Lion King” production, the roller coaster at New York-New York and Monte Carlo magician Lance Burton.
Whether that will be enough to help Circus Circus withstand the recession and overcome the gap remains to be seen.
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There are many more closures in store for Las Vegas as fuel prices are rising and jobless rates remain at historic highs. The outer edge clubs are all in danger including the Palms. The economics of higher taxes and less discretionary dollars across America will continue to drive this city to the bottom. I wonder if they can really do this by accident or if it is all a plan.
it's also killing places like the peppermill that got a lot of its business from people walking over from the stardust and frontier.
This is the great tragedy of all time here in Las Vegas! These resorts, and motels and dining spots used to be thriving places which fed a specific demand from tourists. A taste of old Las Vegas, good value offerings, and a perfect balance to what was happening on the southern end of the strip. This area should have been left alone, and everyone would have benefitted from it owners and tourists alike. The great Stardust, Frontier, Desert Inn, Riviera, Sahara Hotels are the properties which built this town and must have been doing something right because they remained profitable right up to the idiotic decisions made by the corporate fools to tear them down! The owners should hold their heads down in shame for the destruction of one of the most sensational, exciting, and original part of Las Vegas.
they should knock it down and same type of park or something to clean it up
when i last saw the stardust and circus circus(1999)they were on their last legs then.
Those large empty lots also make it appear unsafe to walk at night past them. Also, the construction sidewalk with overhead plywood in front of the Fountainebleu is especially uninviting to pedestrians. All of the empty lots and partially built structures do leave a bad impression for tourists riding down the Strip on the Deuce.
i dont know about the regular rooms that use to be at the stardust but the suites were still great - that boyd should have never took it down - they had no mortage on it and now look what they have... my host was at the stardust and we had such a great time there and the people were friendly
The demise of the North strip properties also can be attributed to Steve Wynn by erecting the Wynn Resort on the old Desert Inn site across the street and up the block from the Frontier and Stardust resorts. It gave the owners the impression that their resorts were inferior and had to keep up with the Jones and follow suit. Also the ridiculous over value of real estate especially on the strip, caused the little guys to sell off their spots like the Algiers, and smaller motel properties which all benefitted from those old resorts. This story really just reinforces the old saying "If it ain't broken, don't fix it"
Enviroprotector, I don't always agree with you but this time you nailed it!
Thank you very much SaharaSunLady. Now how do we get you to ALWAYS agree with me??
Thats business for ya. The older casinos have been on the decline for quite some time. If you want old las vegas, hit up downtown now.
Circus Circus must never be torn down! It was immortalized in the movie Damnation Alley.
It's kind of funny that Phil Ruffin is bringing back some of the New Frontier features like Gilley's and the artificial bull ride. He is setting them up at TI where it is married with Cirque du Soleil's Mystere. TI is being reborn as a blue collar destination.
I read somewhere Circus Circus would be the least missed casino if torn down in Las Vegas. I 100% agree. I haven't been there in years and may never go again. Last time I went you couldn't walk in the door without someone trying to sell you a time share. It smelled like a locker room. The inside was dated and worn. The buffet was better than Arizona Charlie's, but that's not saying much. At least we didn't get sick from eating at Arizona Charlie's. Me and my wife got ill after eating their buffet. Some people I talk to say the same thing about getting sick. Don't think you can make the rooms cheap enough to make it worth staying there. There is always new customers not knowing what they signed up for.
If you want to read more go to the reviews at Expedia. The 2 1/2 stars may be over rated. The only good things I read was it was cheap (as low as $34 per night), had a place for kids, and had a McDonalds. The rest were complaints.
I remember hearing one of the county building inspectors saying "there are so many violations in that place, they would be better off tearing it down". Reason was that continuously since the place was built it was modified without permits. The work most likely was done by handyman level Circus Circus engineers or contractors that employed unskilled workers. Building and fire safety codes were not followed. To correct you have to tear the place apart.
Require a completion bond to either finish or tear down projects in the future. Maybe the buildings can be wrapped with graphics or advertising for the time being.
Boyd Gaming is all hot to trot to buy Station Casinos, they need to finish that eye sore Echelon first. Boyd Gaming treats their employees like trash...
woobert :
I happened to have been a lifelong patron of the Stardust Hotel, then they moved me over to The Orleans, and I can say from experience that the Boyd employees were the best treated, most friendly and eager to please team of folks I had ever seen. I find your comment to be a bit of an insult to those folks who had twenty and some forty years with the company who were given jobs at other Boyd properties instead of being layed off. Even the cocktail waitresses whose features were well past their prime were still kept on out of respect and appreciation for their years of service. I don't think you would find that kind of treatment from the other owners operating in this town or anywhere for that matter. Sam Boyd worked his way up from being a stick man on the craps tables at El Rancho Vegas the strip's first resort in 1941. I think he instilled those ethics to his sons which they try to practice to this day.
Here's a win-win for MGM. Just hand over Circus Circus and its land to the banks to take down its debt at City Center. Never mind cross-promoting MGM venues - cross promote its financial assets.
I agree that it is time for Circus Circus to go. Las Vegas never should have been promted as a family destination in the first place. It is a worn out property whose time has passed. Vegas needs to think about marketing to a younger generation, but not kids. I am in my mid forties and find that most shows etc. are for people my age and older.
I'll be eating and drinking at The Peppermill when I visit Las Vegas in June. It is a slice of the old Las Vegas and has a personality all it's own as well as a cool 70's vibe.
I too. felt the same way about Boyd's family style treatment of employees and customers. Things changed about 7 years ago when corporate took over and their idiot managers and bean counters came in. I have alot of respect for Bill Boyd and his father. But, Boyd Gaming lost its friendliness.
Like I said before, you could put a casino in Nelson and people will go there if the games are fair and there is value.
Of course MGM offers rip off machines and terrible blackjack games -- the usual 6/5 nonsense at CC. Then throw in the smoke and tattered appearance of the place. Yuk.
No wonder business is down. Sure the foot traffic maybe down, but the reality is that people will only take so much abuse from MGM and Harrah's before they will go elsewhere...
About a year ago, an acquiantance of mine had a meeting with Boyd Gaming "Official(s)." This Acquiantance was told via one of the "Officials" that Bill Boyd in a previous meeting earlier had expressed regrets at NOT having waited to teardown the Stardust. It was implied that if he had, he'd still be sitting pretty with a fully operational and running debt free property.
Many people forget when the Circus Circus was built. Built around the same time, if not before Caesars Palace, by the same owner. Back in the 1960's it was a different time obviously, and the Circus Circus was a destination for many. As the years have gone by, this place has been passed over for newer and better places. Essentailly being put on the back burner by the MGM Mirage.
In my opinion, once they imploded The Stardust, it was curtains for the north end of the strip, with the exception of the Strat. It's only a matter of time before the Riv and Sahara are gonna be cloing its doors.
I just did that walk from Strat to TI a month ago it is damn depressing passing by the grave site of the Stardust and Frontier. That's all I have to say.
Dynamo :
I not sure I understand your point. Are you saying that Bill Boyd stated he wished he had NOT torn down the Stardust at all, or that he wished he had torn it down SOONER??
Dynamo :
Also I can tell you that from many inside sources I have spoken to, that the Boyds were advised by many of their middle management and higher ups that the Stardust was in good shape, and had received a mountain of protest mail from their long time and everyday customers. I really think that the environment of easy credit and greed won over the day.
It is really annoying that something can be started and then just left undone and become an eyesore. It is not fair to all of the other properties who work so hard to make their properties as nice as possible, wether it be Wynn or Riveria, it is not fair to them. It is like having a nice home in Summerlin and having someone tear down the house next to you and bring in a mobile home! I also don't understand the Vegas philosophy of everything has to be "from the ground up". . .any architect worth his salt should be able to intergrate an existing hotel with new plans and you never know the difference. If Boyd HAD to have a new and improved resort, I don't know why they couldn't have started with the MILLIONS of dollars of foundation and structure that already existed, gutted it and built on. It might be cheaper to start from scratch, but I don't know how; however, that is water under the bridge so it doesn't matter, but the LEAST they could do is do like Caesar's did with their new tower, finish the outside, landscape and don't open the doors. They should be fined every day that we all have to look at that mess!!
My second thought is that I REALLY think there are enough opportunitys to gamble and enough hotel rooms. . .is there NOTHING else that any of these super smart savvy business people can think of to add a little extra flavor to the strip??
OK, On that note, I think I'll go relax at Wet 'n Wild for a while. Oh, wait. . . nevermind. . .
Sad truth that the Excalibur does better than New York-New York, Monte Carlo and the Luxor. And, it was so 'inexpensive' to build. It is not a first class property either. Down by Circus Circus, don't forget the empty and torn down El Morocco and La Concha. MGM needs to dispose of more of their properties that are draining their financial picture.
The Riv should have been torn down before the 'Dust in a perfect world.
I forgot MGM owned Circus . What a dump,they should unload that place,but who would buy it?
The Riviera needs to be saved simply as a reminder that the greatest Vegas movie ever was made there. Of course on that note the Stardust should have been saved as a reminder that the greatest Vegas movie ever made was made ABOUT that property.
Question about Circus Circus: did any posters here ever visit the property when you had to slide down a slide to enter the casino? Apparently there no stairs when it first opened.
MGM has many properties that they would like to unload, but have no takers. The Gold Strike in Jean, comes first to mind.
aloluzzi,you are speaking about 'Casino',right? If so,I agree (with the greatness of that movie).
It would be great to see the Riviera restored to it's former glory but would enough people support it to make it a profitable investment? I hope that they would and that there are investors who would have faith in the property to put their money on the line.
9ballguy,I don't think 95% of people care about 'old vegas', anymore. It's just 'old'. Not me ,of course . But i still wouldn't stay @ the Riv.
It's a shame that the Stardust is gone. I used to stay there all the time. The rooms were decent for the $ and the casino had a cool '70's vibe!
acoluzzi
I have never heard of the slide.(But anything was possible back then).
United 727
I have worked and stayed at the Riv. in its hayday it had the best gaming, shows,comps and food. The Riv. is the icon on the strip.
Have you ever been in the lux. suites at the Riv.?
The best of the best was the Silver Slipper! I remember hanging out their after work in the early 80's. Great place, good food and pure Vegas friendly style! The Dune's was great too!
Gee, it seems strange that an unfinished building would cause problems.
Wonder why the many EMPTY DESERT LOTS on the strip forty years ago didn't kill everything?????
Other problems are underfoot much more menacing than a few construction sites.
CC is losing a $million a month right now. If that begins to substantially increase, it would not make sense to sell the place. It is one of the 12 largest hotels in the world. No corporation can both assume debt and operate it at a profit. The only person who buys it will want the 68 acres of land under the property. People will be bidding $150-$250 million. Selling it will do nothing for the MGM debt load. When they sold TI for $775m, it barely made a dent in the MGM debt, and they gave up a profitable operation.
============
It costs the corporation $142.55 per room per night to operate the property. They are renting the rooms for $37 per available room. If people don't spend $20 a person on the all day buffet, gamble a little, send their kids to Adventuredome, play the midway games and buy a few beers the property loses money.
============
As late as 2008 guests were spending $53 was per available room. That extra $16 made all the difference, it was enough to keep the property open and the employees employed.
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My guess is a significant number of their guests are guys who rent the cheap rooms, bring a cooler full of beer, a bottle of tequila and sandwiches and walk to the strip clubs on Industrial Ave.
============
My personal feeling is that if it keeps losing money MGMMIRAGE will close or implode some towers, and close the manor rooms that cater to the guys who just go to the strip clubs. They will close Adventuredome, and the main casinos, restaurants and pools, and simply operate the slots-a-fun casino to service the campgrounds and smaller number of hotel guests. As a stripped down operation it may make enough money to cover the real estate taxes and break even. It's grim, but it's better than bleeding money.
I miss the Stardust.
Tell the truth...Las Vegas began its demise and death in 1979...when the last of the "mob" was cleared out...and the "bean-counters" took control...it has never been and will never be the same...Those were the real fun days...and the "old strip" Hotels could not be beat.
acoluzzi said "I just did that walk from Strat to TI a month ago".
Wow, once you venture north of Sahara avenue, you're entering the danger zone. The Strat is a decent lower end place (not fancy, but not horrible either), once you're inside, but the surrounding area is not a place I'd want to be walking around.
The Stardust was a great place.
The Riviera used to be my favorite place to gamble.
So now MGM is admitting that Excallibur is a low end place on par with CC. We've seen the once expensive places like Luxor, Excallibur, TI, etc. become the new budget places.
Nothing says budget like Gold Strike in Jean. We stay there when the places in town are charging too much. When places like IP are up near $100 a night (during a busy event week) you can still stay at the Strike for $20. It's a 20 minute drive into town.
I like the lack of resort fees at Harrahs properties.
@Joe Vegas ... Corporate came in and said, It's all about the money not the people... Hope their happy now... Everyone is scared for their jobs!!! Can't entertain like in the days (started about 7 years ago)! Too bad.... Boyd Gaming I would say started all that action! My mother said, they should have a drive-thru: You just drop of your money and keep driving! That way, nobody feels like their losing their butt!
Vegas is frantically destroying its heritage to make room for the future. The Riviera, Sahara, like their deceased neigbors, Stardust and the New Frontier, are classic bridges to the past. Vegas is a culture, if you will. No culture can endure that doesn't celebrate and cherish its venerable cornerstones.
Keep tearing the heart out of Vegas' past and you create a souless, bloodless corpse--no life, no identity, no purpose.
Vegas, quit burning your bridges. We will forget who you were because obviously you don't care.
The announcement for Echelon was made 04 Jan 2006 which has been over 4 years. You know the planning was going on for probably 1-2 years before the public announcement.
I'm sure Boyd regrets not having the Stardust there today. It used to make a respectable $160 million per year in gross revenue. But that was a long time ago to be second guessing.
Price compression--I haven't heard that term before. The more common term is "deflation"--that's when prices fall and fall and people still can't afford to buy anything. It's just been reported that the Crystal Cathedral in Garden Grove is in trouble. They are $55 million in debt. They cancelled their "Glory of Easter" show and some vendors who supplied props and animals for the Christmas show still haven't been paid. Now I know that things are really bad. lol
It's the COST of Airfare and the shortage of flights,like Southwest. American charges are way too high, so are Southwest, and Southwest needs more flights. Southwest needs more direct flights. More people would come and spend more if they didn't have to pay such hight airfare. It's not the cost of hotels it's airfare.
Follow England and start taxing the rich. Anyone making over $100,000 a year should pay more for all of us flipping hamburgers that couldn't afford college.
Dig up the died and tax them too.
Tax tax tax make Clark county the highest tax county in USA maybe some people will move.
Tax the people waiting in the DMV line too.
gdperson: $100,000 a year doesn't make one rich. With student loans and grants, and yes working one's way through college, anyone can attend and not have to flip burgers like you. Don't blame your lack of education on someone being rich enough to go to college. It is called self-determination. Typical entitlement whiner.
I took a walk by Echelon and the FB back in December. I have to agree that the sites are so vast and have no activity, that they do not feel safe to walk by. I also took a stroll through Circus Circus and was appalled by what a DUMP it has become. Hence the reason for its performance.
If you want to see where the economy of the United States is going, look at this WEB SITE (from Google).
http://en.wikipedia.org/wiki/Economic_hi...
It tells of the dramatic demise of ARGENTINA's economy - an economy that was as rich and prosperous as what we in the USA used to have.
For very similar reasons as Argentina - social progrms, lack of market controls, political interference in the free-market, privitization, deregulation, excessive taxation on the rich AND the middle class, etc, etc., - America is in danger of economic collapse. (This is a well known point.)
No matter what political ideology you prefer, you cannot ignore the facts. What you see is what we will get.
The only way a fate similar to Argentina, is to reduce debt, don't incur any more, reduce spending programs until we can afford them, "tighten our belt" and do other things that economists on all sides have proposed we should do to get "well."
THEN, the issues which affect the entire country - can been addressed, and we can make the economy can recover. It will take a LEADER with vision to do this - and a CONGRESS that is willing to look at the broader picture - to reduce debt, instead of passing more legislation that just increases spending.
After 90 years of economic failure due to its social and economic policies, Argentina is finally showing a glimpse of reversalin its economy. I hope we can say the same about America in the a couple of years - but the way we are spending, it won't happen.
Write your Member of Congress, and make your voice known. MAYBE, they will pay attention.
To: The_Socratic-Inkwell
You don't mention excessive spending on useless wars, but that savings alone would balance the American budget.
You also don't mention failure to control illegal immigration. That would uplift the sense of justice of law-abiding Americans, not to mention assist employment numbers of citizens and increase tax revenue by reducing the underground economy.
But what does any of this have to do with empty lots on the Strip?
Crawford, I hope you are not a high school counselor telling kids to get into debt to go to college. Unemployment is now extremely high amongst college grads, and they are discovering that student loans are the most toxic type of debt.
Check out www.studentloanjustice.org.
Let the half built properties rust. Maybe it will move some of the corp. out of vegas and some private owners with some business sense will step in...
@FromBellevilleCanada - I was not trying to cover all the bases of our NATIONAL ECONOMIC failures. That is what the etc., etc., was supposed to do. I was trying to make a point that HISTORY shows us what can happen under certain socio-economic and political conditions - and so one might think we should NOT follow such economic policies as the (somewhat parallel) economic demise of Argentina presents.
As to "What does any of this have to do with empty lots on the Strip?" - Las Vegas is A PART OF THE USA - indeed the world - economy. And in case you didn't notice, for at least the past three years our economy in Las Vegas/Nevada and the rest of the US - has been in a steep decline; LV being among the worst in the nation.
ALL aspects of the Las Vegas/Nevada economic decline - including/especially the DOWNTURN or HALT in CONSTRUCTION of Hotels and casinos in Las Vegas - are DRIVEN by our NATIONAL economy. This includes everything from funds available, stock market ratings, suppliers, builders, construction components, taxes, loss of revenue, ETC., ETC.
Even though some LV CEO's used to think so, Las Vegas DOES NOT exist in a world of its own. There used to be 300,000 tourists filling LV hotel rooms on a regular basis; those numbers are way down now; that is the reason for current low room-rates, package deals, ETC., ETC.
The losses being encountered by Strip (or other) hotels is KILLING the availability of INVESTOR MONEY - and thus progress in the construction of hotels and casinos.
But the lack of a healthy and fluid NATIONAL economy, and a HUGE LOSS of CASH-FLOW into Las Vegas - is due to the wide-variety of economic declines and losses, which include the 31 million people without jobs.
Thus, with fewer tourists coming to LV, less credit is made available - and the feasibility of building or completing anything that might make a profit, is now seen as throwing good money after bad; and it is withdrawn (defunded).
Until the NATIONAL economy recovers substantially, small business begins to prosper again, and jobs are found for millions of people - the LAS VEGAS economy and its ability to fund, build, and manage hotels and casinos - will not move forward.
Well, if this is not enough of an explanation you can fill in the rest. Good Day!
I miss the Klondike.
The overbuilding fears of years past are now reality now that Cheap and easy credit is over...
It was a nice run while it lasted.. Let's not ignore the overbuilding warnings that have been going on since the mid 1990's.
Throw in all of the indian casinos that have been built in the past 15 years where people can stay closer to home to gamble...
Gas prices are on their way up as the FED keeps printing up dollars (de-valuating the dollar) to pay for all of the wasted stimulus spending on Turtle Tunnels and $54 Million dollar wine trains in Napa... this summer could get brutal.
Thanks Harry Reid, Dinah Titus and Shelley Berkley!
With Steve Wynn diversifying his brand to Macao first and now to Philly, that should be enough warning for what's coming.
Its all about supply and demand people...you can visit about any tourist city that exploded thru out the world ie Cancun...Cozumel...Las Vegas...I vacationed in Cancun when it was fairly new and maybe 15 hotels there and it was sweet...now I wouldnt step foot in it...it is no longer paradise...go to any of these places and it is at least one to many bars, clubs, hotels etc etc...one opens and 3 closes...everyone has outgrown themselves thinking of I'll get rich if I build it....most would have to agree that it would be better to see 100 hotels at 95 percent occupancy than 700 at 45 percent occupancy which is happening today at least if I was one of the hotel owners I sure would love to see it that way...
Circus Circus used to have a great buffet from 12 years ago and beyond....couldn't beat the $3.99 buffet menu they had in the past, that was the main reason I went there....plus the fact of taking the kids to the upper floor so they can pilf the amusement center.
After 2000 arrived, the buffet all of a sudden sucked and the property finally outlived itself with the same gimmick all these years.... Noticed it was mainly designated for the budget oriental overseas tourists as there were tons of them.
Not much action anymore in either the casino floor or Slots-R-Fun when it used to always be packed with slot players in the past... However I would have never thought Circus Circus would be so worn down, however it still exists and survives...Not much to say about The Riviera either. The north end of the strip seems like at the intersection of Convention Center Drive nowadays.
Check out the Strip as depicted in the Seventies TV Show Vega$ on DVD! Now THAT was VEGAS baby!!
The loss of Stasrdust, Frontier, and the uncompleted Fontainebleau is at least 50% responsable for the decline in North Strip pedestrien traffic counts. This decline has created a terrible economic impact on Circus Circus, The Riviera, & Sahara.
Boyd made a huge error in colasping their only existing strip resort, prior to opening a second.
It astounds me that the board members of major corporations could not see that they were operating within a bubble, and act with caution. Well the bubble has burst, and the fallout is staring us in the face.
Boyd has many acers at Echelon. If I were running the show I would build something quick, easy, & cheap, but expandable, they could work with what's existing of Echelon. Along the lines of the M-Resort. Now that labour & material rates are at somewhat normal levels, take some of the money that's earmarked for Station and build.
I agree with many of the views here that OLD VEGAS IDEALS need to be revisited. Clean, afforable, and fun. The consumer will dictate what survives. Even though visitation to Vegas is down from 2007 highs the ever decreasing value of the American dollar worlwide, should increase forgin visitation enough to offset domestic decline.
To all the naysayers of City Center. This properety in time will prove to be a Bellagio; which by the way was hammered by critics of the day as "to much", "never fill the rooms".
There is a place for Circus Circus, but no one wants to stay at a hotel that is walking distace isolated. My 2 cents.
City Center will never compete with Bellagio. Too big, cold and impersonal in it's design and execution.
I was not here during the days of the Frontier and tha Stardust but I willsay that they sounded like a blast to encounter.I will say one of the most enjoyable casinos I have been to was the Orleans and the dealers and waitresses were friendly.In all do respect to MGM you guys are really screwed when you built City Center.Even when your planning was going on I do not see it doing well with a good economy.
These guys need to clean up their properties change their employee attitudes and just make an overall adjustment or things are not going to change for many many years to change.Boyd Gaming needs to go back to Dad's philosophy and realy put a hurt on The Corperate giants.Boyd needs to buy circus Circus and complete Echelon even if they down scale it a little and get it up and running then complete the rest of it when the economy recovers.For Boyd to purchase Stations would be the end to them and a horrible mistake.Now that Carl Ichan has purchased FB and has yet to anounce his plans of restart of that project this would be a good time for Boyd to step in and solitify itself on the northend off the strip
The Boyds could finish Echelon to a certain extent but they much rather buy Station's which is the for the most part the locals market Dont you need to create jobs so that the locals can patronize them.Whatever!! Keep the eyesore as it is,invest your money in something that will be the last to recover in this market and the go belly up and the eyesore will be tied up in bankruptcy court and never completed.
10 years from now the eyesore will still be, but half fallen down and the tour guides will be explaining to the Chinese and Arab investors that this eyesore was the begining of Las Vegas demise of the corperate foolishness that the once world Icon fell under,meaning Las Vegas!!!!
What is really missing is the Tour Buses and Airline packages that all Hotel/Casinos use to do years ago. They made a killing for every head they got inside. What the MGM/Mirage should do is make package deals with the airlines for no luggage fee while also taking away resort fees in those deals. While the Casinos are at it, lower the Minimums to $3 on BlackJack and Craps. Go back to 3/2 for BJ. Echelon should be sold to Steve Wynn so it can make it to something profitable.
Vegasvampire you hit the nail on the head.
Yeah environprotector--Vega$ on DVD is an unbelievable time capsule. Unlike CSI, which is mostly filmed in LA, Vega$ was filmed on the North Strip, around Circus Circus and the Desert Inn. CC was beautiful in 1977. I can't believe how old and shabby it's become. Those bunker-like rooms in the back are still nice, however. That pink adventuredome was a total waste of money.
My husband and I stayed at the Stardust for 28 years. We knew and loved some of the employees like family. We were always excited about going to Vegas. We just can't seem to get excited about going any longer. Vegas will never be the same for us with no STARDUST............