Monday, August 10, 2015

Monte Carlo Name Change

Monte Carlo is getting a new name. This has been hinted at and speculated for a few months now, but MGM Resorts International CEO Jim Murren has all but confirmed it. The name change will likely take place in 2016 around the same time the new Monte Carlo theater is finished.

Murren was quoted today in a Vegas Inc article saying, "a name change is almost a certainty." Apparently in focus group testing the Monte Carlo brand name did not resonate with customers as well as other MGM properties did. This isn't really surprising, as Monte Carlo is often overlooked despite its prime Strip location.

Here's the part of the blog post where I wildly guess some possible new names for Monte Carlo:

The Park - Naming the hotel and casino after the attached promenade would be taking a page directly out of the Caesars Entertainment playbook when they ultimately renamed Imperial Palace as The Linq. While this would make logical sense - it isn't the most exciting option.

Central Park - This name would incorporate a few different things. "Central" would highlight the hotel's relative location on the Strip and close proximity to City Center. "Park" is the name of the outdoor promenade. "Central Park" is obviously a New York reference which would essentially turn New York New York, The Park development, and the Central Park hotel into one distinct area.

Park Avenue - Another name with a New York twist. I think the road going through The Park development will be named Park Avenue, so the hotel having that same name might be a possibility. The strong New York tie-in would make this a de facto sister property to New York New York, which would make perfect sense since they will be sharing The Park development.

Borgata Las Vegas - This one is total speculation and is the longest of the long-shots, but in my mind it would be a good move. If you're not familiar Borgata is the nicest hotel casino in Atlantic City. It is owned as a 50/50 joint venture between MGM Resorts and Boyd Gaming. MGM could trade their stake in the AC property to Boyd in exchange for exclusive Borgata Las Vegas naming rights. Again, this is extremely unlikely but if MGM wanted to make a big splash with the re-name I can't think of another brand that would bring more excitement or credibility than Borgata.

Update - June 3, 2016: Park MGM is the new Monte Carlo name.