Coronavirus & Vegas, and now Real Estate - Page 46 - Las Vegas Lifestyle Forum - Las Vegas Entertainment and Living Information

But the “plan” seems absurdly pessimistic. If it’s possible that everything will be completely back to normal 9 months from now, why would you committ to closing your marquee property for another 9 months after that?

It’s totally reasonable to say they are only going to open two or three properties in the next month, because we have some idea of what the next month will look like. But that says nothing about why things will look like more than a year from now.

It’s much easier to announce an optimistic opening and close down if circumstances change (as we just saw when everything closed down in March in the span of four days) than to announce a long term closing then try to reopen suddenly if things turn out better than projected.

Was there such a commitment made ?

Not having any idea about the force majeure provisions of MGM's various agreements and debt or the terms of its labor agreements or the ownership structure for Aria, I cannot try and guess what is the best way to phrase an announcement on the topic.

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05-10-2020 , 04:34 PM

#1127

lv2plapkr

centurion

Join Date: Mar 2017 Posts: 134

Quote:

Originally Posted by RollWave

not exactly a lot of immigration going on across that border i wouldn't think.

and it probably would serve their interest to be surrounded by dead people 2 weeks later

Very humane of you to wish death on civilians!

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05-10-2020 , 04:35 PM

#1128

pig4bill

Carpal \'Tunnel

Join Date: Dec 2005 Posts: 33,754

Quote:

Originally Posted by AngusThermopyle

If it pans out, do Israel's neighbors use it?

You mean those guys launching rockets into Israel? Magic 8 Ball says "no".

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05-10-2020 , 04:44 PM

#1129

pig4bill

Carpal \'Tunnel

Join Date: Dec 2005 Posts: 33,754

If you're jonesing to get back to Vegas, watch a couple of episodes of the old Las Vegas show that's marathoning on the E channel. Such a terrible show, but it's like a train wreck, I can't stop watching.

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05-10-2020 , 06:08 PM

#1130

Trixie2

grinder

Join Date: Jan 2017 Posts: 475

That show was the bomb. Good ole Ed and his team never missed a beat.... haha

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05-10-2020 , 07:58 PM

#1131

R*R

I wish I was Einstein

Join Date: Mar 2007 Posts: 12,753

Quote:

Originally Posted by parisron

Caesars properties still has May 22nd up. Of course it depends on gaming control and the Governor.

Oct/Nov 2021: The Mirage

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05-10-2020 , 10:25 PM

#1132

marky147

adept

Join Date: Sep 2007 Posts: 773

UK guy that Vlogs his Vegas trips has done a couple chats with Richard Wilk, and did a live Q&A with him earlier this evening.

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05-10-2020 , 10:49 PM

#1133

RollWave

Carpal \'Tunnel

Join Date: Nov 2007 Posts: 12,570

Quote:

Originally Posted by lv2plapkr

Very humane of you to wish death on civilians!

i wished no such thing. learn to read.

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05-11-2020 , 09:42 AM

#1134

fakekidpoker

old hand

Join Date: Jul 2011 Posts: 1,256

Cann we use this opportunity to knock down Circus Circus and others? Build something new.

Newer is better

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05-11-2020 , 01:21 PM

#1135

dedmau5

adept

Join Date: May 2010 Posts: 970

Quote:

Originally Posted by NickMPK

But the “plan” seems absurdly pessimistic. If it’s possible that everything will be completely back to normal 9 months from now, why would you committ to closing your marquee property for another 9 months after that?

It’s totally reasonable to say they are only going to open two or three properties in the next month, because we have some idea of what the next month will look like. But that says nothing about why things will look like more than a year from now.

It’s much easier to announce an optimistic opening and close down if circumstances change (as we just saw when everything closed down in March in the span of four days) than to announce a long term closing then try to reopen suddenly if things turn out better than projected.

You've clearly never had shareholders.

No Strip executive management are getting fired because of the business that's being lost right now, because it was legitimately not their fault and even those that planned for it (and you can bet most did) were going to be in this position no matter what. But before this, a lot of senior leadership was under pressure, so this gives them a chance to get on more solid footing by overdelivering against their external statements. The only way any of them get fired in the next 12-18 months is to miss their public milestones.

They are never going to release an optimistic plan.

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05-11-2020 , 01:30 PM

#1136

fkjlhfdkjhkj.

Carpal \'Tunnel

Join Date: Sep 2013 Posts: 11,270

Surprised they're opening Park MGM so quickly. Might it be due to the amount of restaurants there? I've legit never seen anyone in the casino there.

I would have suspected Mandalay Bay or Luxor would be before it. Something more south to attract people who are on that side of the strip especially with Raiders stadium if the NFL has fans. Park MGM is just next to NYNY.

Mandalay Bay makes the most sense to me to open in June. Raiders, WNBA if it comes back, boxing match or UFC possibilities. But I don't know all the finances that go behind these decisions.

It seems they're really just targeting the locals which is odd considering how much MGM hates us.

Last edited by fkjlhfdkjhkj.; 05-11-2020 at 01:36 PM.

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05-11-2020 , 01:46 PM

#1137

Dream Crusher

banned

Join Date: Mar 2016 Posts: 18,786

Quote:

Originally Posted by fakekidpoker

Cann we use this opportunity to knock down Circus Circus and others? Build something new.

Newer is better

Definitely a great time to knock down. May need to wait a few years before you start building though.

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05-11-2020 , 02:08 PM

#1138

Gzesh

Carpal \'Tunnel

Join Date: May 2011 Posts: 7,643

Quote:

Originally Posted by dedmau5

You've clearly never had shareholders.

No Strip executive management are getting fired because of the business that's being lost right now, because it was legitimately not their fault and even those that planned for it (and you can bet most did) were going to be in this position no matter what. But before this, a lot of senior leadership was under pressure, so this gives them a chance to get on more solid footing by overdelivering against their external statements. The only way any of them get fired in the next 12-18 months is to miss their public milestones.

They are never going to release an optimistic plan.

What happened to 6 or so Strip property managers in your view ?

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05-11-2020 , 02:13 PM

#1139

Gzesh

Carpal \'Tunnel

Join Date: May 2011 Posts: 7,643

Quote:

Originally Posted by DefNotRsigley

lol, it's getting near re-opening time and the conventions/airlines are not going to deliver like before, Californians are going to have to drive in, but locals are here 365 24/7.

Y'all better believe MGM is giving you a second look .... see if they throw in free parking, to compete with Stations, SouthPoint, et al. Then you'll know if they love you.

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05-11-2020 , 02:20 PM

#1140

Alex E

grinder

Join Date: Aug 2005 Posts: 523

Quote:

Originally Posted by R*R

Oct/Nov 2021: The Mirage

That above text has been deleted off every place that put it up (click it and it takes you to the home page), turns out it was total rubbish. I'd probably kill it here to avoid confusion/fake news

https://twitter.com/LasVegasLocally/...99095727521794

Last edited by Alex E; 05-11-2020 at 02:33 PM. Reason: adding link

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05-11-2020 , 02:24 PM

#1141

Gzesh

Carpal \'Tunnel

Join Date: May 2011 Posts: 7,643

Quote:

Originally Posted by Alex E

That above text has been deleted off every place that put it up (click it and it takes you to the home page), turns out it was total rubbish. I'd probably kill it here to avoid confusion/fake news

Total Rubbish,

Confusion, and

Fake News

are the three-legged stool of Las Vegas Lifestyle.

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05-11-2020 , 04:51 PM

#1142

Steve00007

Carpal \'Tunnel

Join Date: Jul 2005 Posts: 9,163

Quote:

Originally Posted by fakekidpoker

Cann we use this opportunity to knock down Circus Circus and others? Build something new.

Newer is better

I wouldn’t mind but they would just replace it with another bland resort and try to overcharge customers and limit comps, etc. because it’s “new and fancy.” Not the greatest location either so it might sort of end up like the Sahara.

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05-11-2020 , 07:59 PM

#1143

lozen

Carpal \'Tunnel

Join Date: Mar 2005 Posts: 24,756

Quote:

Originally Posted by R*R

Oct/Nov 2021: The Mirage

Wow Aria not till next summer . Well Vegas see you in 2022 If that's real

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05-11-2020 , 08:01 PM

#1144

pig4bill

Carpal \'Tunnel

Join Date: Dec 2005 Posts: 33,754

There's a lot of real estate there though. And the new one is opening up next door someday, Resorts World?

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05-11-2020 , 08:02 PM

#1145

DividedWeFall

journeyman

Join Date: Nov 2018 Posts: 394

Caesars is going to open all their properties as soon the 22nd. Most staff required to wear masks but customers are not being required to wear them.

Seems like it should be required of everyone or not at all. Unlike the Wynn which is taking a strict approach, this Caesars strategy is half-assed. Tell me how this falls under “Health & Safety”.

Sent from my iPhone using Tapatalk

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05-11-2020 , 08:05 PM

#1146

parisron

Carpal \'Tunnel

Join Date: Jan 2007 Posts: 19,740

Resorts World is across from Wynn and was scheduled for Summer of 2021, they are still doing construction even tho people keep popping up positive on the site. But I don't know if that date is realistic, or if they even still want that date.

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05-11-2020 , 08:20 PM

#1147

RollWave

Carpal \'Tunnel

Join Date: Nov 2007 Posts: 12,570

Quote:

Originally Posted by HailtotheRedskins

its not health, its money.

caesars only pays health costs for (at least some of their) employees, not their customers.

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05-11-2020 , 08:33 PM

#1148

Da_Nit

Carpal \'Tunnel

Join Date: Dec 2014 Posts: 9,382

Quote:

Originally Posted by Steve00007

That North Strip location could easily change if just the economy could stay healthy enough that they can finish a mega resort construction project. These include what Echelon, Fontainebleau, Resorts World and now whatever happens with Circus Circus. If you add in that Wynn/Encore which to many is the end the nice part of the strip it could in turn instead become the beginning of the nice part of the strip.

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05-11-2020 , 09:17 PM

#1149

borg23

Carpal \'Tunnel

Join Date: Nov 2012 Posts: 15,010

Quote:

Originally Posted by DefNotRsigley

Surprised they're opening Park MGM so quickly. Might it be due to the amount of restaurants there? I've legit never seen anyone in the casino there.

I would have suspected Mandalay Bay or Luxor would be before it. Something more south to attract people who are on that side of the strip especially with Raiders stadium if the NFL has fans. Park MGM is just next to NYNY.

Mandalay Bay makes the most sense to me to open in June. Raiders, WNBA if it comes back, boxing match or UFC possibilities. But I don't know all the finances that go behind these decisions.

It seems they're really just targeting the locals which is odd considering how much MGM hates us.

lol they already play with no fans