Caesars Entertainment will no longer manage three Ohio properties starting in 2016.
Rock Gaming announced in a press release that Horseshoe Cleveland, Horseshoe Cincinnati and ThistleDown will all be self managed by Rock next year, cutting ties with Caesars.
As part of the transition the properties will be renamed, and they will no longer be part of Total Rewards. A new loyalty program will replace it but that wont help people looking to build up comps for a trip to Las Vegas.
Many people have wondered if Horseshoe Baltimore will also transition, as Rock has an ownership stake in that property as well.
I think it's a long-shot since Caesars Growth Partners is the largest owner of Horseshoe Baltimore. It's unlikely that Rock, a smaller owner would be able to push them out unless Caesars wanted to sell.
Tuesday, November 03, 2015
Monday, November 02, 2015
Guy Fieri El Burro Borracho at Rio
The restaurant personality everyone loves to hate, Guy Fieri is opening his Mexican joint El Burro Borracho at Rio.
According to the press release, "El Burro Borracho, or the Drunken Donkey in its literal translation, will bring a vibrant, fun atmosphere with the Guy Fieri touch. Guests will enjoy authentically prepared Mexican dishes with upscale touches and the signature, flavorful flair you would expect from Fieri. Crispy Mahi Mahi Juan Tacos, Flaming Queso Fundido, Acapulco Gold Salad, Drunken Fish Tacos, Lava Rock Shrimp, signature tortas, enchiladas, burritos and an array of house made, signature salsas are just a few of the items available on the menu."
I personally don't have a problem with Guy, but he really does bring it upon himself with those wacky menu items. A little self awareness would go a long way, but then again he's done quite well with his antics - manufactured or not, so whatever works right?
This will be Guy Fieri's second Las Vegas restaurant. The other one is Guy Fieri's Vegas Kitchen & Bar at The Linq. His roots in Las Vegas stem from being a graduate of UNLV.
When I first heard about this news I suspected El Burro Borracho would replace the closing Rio Village Seafood Buffet - but the press release says that Guy's restaurant will actually be located near the Rio pool.
According to the press release, "El Burro Borracho, or the Drunken Donkey in its literal translation, will bring a vibrant, fun atmosphere with the Guy Fieri touch. Guests will enjoy authentically prepared Mexican dishes with upscale touches and the signature, flavorful flair you would expect from Fieri. Crispy Mahi Mahi Juan Tacos, Flaming Queso Fundido, Acapulco Gold Salad, Drunken Fish Tacos, Lava Rock Shrimp, signature tortas, enchiladas, burritos and an array of house made, signature salsas are just a few of the items available on the menu."
I personally don't have a problem with Guy, but he really does bring it upon himself with those wacky menu items. A little self awareness would go a long way, but then again he's done quite well with his antics - manufactured or not, so whatever works right?
This will be Guy Fieri's second Las Vegas restaurant. The other one is Guy Fieri's Vegas Kitchen & Bar at The Linq. His roots in Las Vegas stem from being a graduate of UNLV.
When I first heard about this news I suspected El Burro Borracho would replace the closing Rio Village Seafood Buffet - but the press release says that Guy's restaurant will actually be located near the Rio pool.
Sunday, November 01, 2015
October 2015 Las Vegas Stock Recap
With the calendar now showing November 2015, let's take a look back and see how Las Vegas stocks did in the month of October.
October turned out to be an amazing month for Las Vegas stock returns with every stock I track finishing green, and 5 out of the 6 finishing up by more than 20%.
Caesars Entertainment has been on a wild bankruptcy fueled roller coaster ride. After soaring an incredible 83.3% in August they came crashing back down to earth in September falling 38.32% only to turn it around again in October jumping up 36.67%.
Wynn Resorts and Las Vegas Sands both were up big in October after declining significantly in September. While Steve Wynn was angry at the Macau government during Wynn's earnings call, Sheldon Aldelson was nothing but respectful.
MGM Resorts International had a 25% gain in October highlighted by the news that they are creating a REIT called MGM Growth Properties.
Boyd Gaming rode the downtown Las Vegas success wave with their stock increasing almost 22% in October.
Penn National was "only" up 6.4% in October. I'm guessing their limited exposure to Las Vegas compared to the other stocks kept them form having the same explosive October results.
October turned out to be an amazing month for Las Vegas stock returns with every stock I track finishing green, and 5 out of the 6 finishing up by more than 20%.
Caesars Entertainment has been on a wild bankruptcy fueled roller coaster ride. After soaring an incredible 83.3% in August they came crashing back down to earth in September falling 38.32% only to turn it around again in October jumping up 36.67%.
Wynn Resorts and Las Vegas Sands both were up big in October after declining significantly in September. While Steve Wynn was angry at the Macau government during Wynn's earnings call, Sheldon Aldelson was nothing but respectful.
MGM Resorts International had a 25% gain in October highlighted by the news that they are creating a REIT called MGM Growth Properties.
Boyd Gaming rode the downtown Las Vegas success wave with their stock increasing almost 22% in October.
Penn National was "only" up 6.4% in October. I'm guessing their limited exposure to Las Vegas compared to the other stocks kept them form having the same explosive October results.
| Company | Symbol | Start | End | Change |
| Caesars | CZR | 5.89 | 8.05 | +36.67% |
| Wynn | WYNN | 53.12 | 69.95 | +31.68% |
| Sands | LVS | 37.95 | 49.51 | +30.46% |
| MGM | MGM | 18.45 | 23.19 | +25.69% |
| Boyd | BYD | 16.30 | 19.99 | +21.96% |
| Penn | PENN | 16.78 | 17.86 | +6.44% |
Saturday, October 31, 2015
Fremont Street Performer Details
Last month I wrote about some new rules for downtown street performers. The rules still allow street performers to work for tips but restrict the time and place they are allowed to perform, containing them in selected six foot circles around Fremont Street.
Now the City of Las Vegas has announced more details on their blog:
Performers must first register online at lasvegasnevada.gov in order to participate in the lottery. Performers may also register in person on Fremont Street from 2 p.m.-8 p.m. or at the Development Services Center during regular business hours (333 N. Rancho Drive). A performer is not entitled to more than one registration regardless of the number of characters or acts performed. The registration is valid for 180 days and must be displayed at the perimeter of the designated location being used by the performer.
The online registration process will soon be located on the city’s website at www.lasvegasnevada.gov. Registered performers will be able to sign up for the online lottery on the city’s website beginning Nov. 16. Performers will sign up for the lottery each day for the next day’s time slots for one of 38 available spaces. Performers will be randomly assigned spaces that must be used between 3 p.m. and 1 a.m. and will be notified via email their assignments, or can look online. Each spot is good for a two-hour time slot.
I'm guessing the street performers can't be happy with these rules, as from their perspective the process seems like a hassle. On the other hand from a tourist's perspective I'm pretty happy with the way this has turned out, as Fremont Street should be much more pedestrian friendly now.
Now the City of Las Vegas has announced more details on their blog:
Performers must first register online at lasvegasnevada.gov in order to participate in the lottery. Performers may also register in person on Fremont Street from 2 p.m.-8 p.m. or at the Development Services Center during regular business hours (333 N. Rancho Drive). A performer is not entitled to more than one registration regardless of the number of characters or acts performed. The registration is valid for 180 days and must be displayed at the perimeter of the designated location being used by the performer.
The online registration process will soon be located on the city’s website at www.lasvegasnevada.gov. Registered performers will be able to sign up for the online lottery on the city’s website beginning Nov. 16. Performers will sign up for the lottery each day for the next day’s time slots for one of 38 available spaces. Performers will be randomly assigned spaces that must be used between 3 p.m. and 1 a.m. and will be notified via email their assignments, or can look online. Each spot is good for a two-hour time slot.
I'm guessing the street performers can't be happy with these rules, as from their perspective the process seems like a hassle. On the other hand from a tourist's perspective I'm pretty happy with the way this has turned out, as Fremont Street should be much more pedestrian friendly now.
Friday, October 30, 2015
September 2015 Revenue and Visitation Numbers
September 2015 Las Vegas Gaming Revenue and Visitor Statistics have been released.
Las Vegas visitation was robust increasing +6% in September year over year. This translated into citywide occupancy up 4% with average room rates and revenue per available room increasing significantly (+8.8% and +13.9% respectively). Total room nights occupied were up 3.6%. September was a particularly strong month for convention attendance, which was up 23.9%.
Downtown continued its winning streak with strong occupancy (+5.8%), average daily rate (+19.4%), and revenue per available room (+28.3%) all trending upwards.
Air traffic was also up again in September, increasing +5.9% year over year.
Gaming revenue on the Strip was up +2%. High end baccarat, which has been a struggle for casinos lately, had a better month on the Strip in September increasing +23.39% from last year.
Downtown had more good news with total gaming revenue up +9.3%. Slot machines (+7.55%) and table games (+12.33) both showed healthy increases.
The up and down Las Vegas locals market was down this time, as the Boulder Strip was -5.52% in September while North Las Vegas was -7.32% year over year.
All in all September was a really good month for Las Vegas. The Strip and downtown both showed strong hotel results. Strip gaming numbers seem to be improving, while downtown gaming is really going strong. It will be interesting if these impressive trends continue through the end of 2015 and into 2016.
Las Vegas visitation was robust increasing +6% in September year over year. This translated into citywide occupancy up 4% with average room rates and revenue per available room increasing significantly (+8.8% and +13.9% respectively). Total room nights occupied were up 3.6%. September was a particularly strong month for convention attendance, which was up 23.9%.
Downtown continued its winning streak with strong occupancy (+5.8%), average daily rate (+19.4%), and revenue per available room (+28.3%) all trending upwards.
Air traffic was also up again in September, increasing +5.9% year over year.
Gaming revenue on the Strip was up +2%. High end baccarat, which has been a struggle for casinos lately, had a better month on the Strip in September increasing +23.39% from last year.
Downtown had more good news with total gaming revenue up +9.3%. Slot machines (+7.55%) and table games (+12.33) both showed healthy increases.
The up and down Las Vegas locals market was down this time, as the Boulder Strip was -5.52% in September while North Las Vegas was -7.32% year over year.
All in all September was a really good month for Las Vegas. The Strip and downtown both showed strong hotel results. Strip gaming numbers seem to be improving, while downtown gaming is really going strong. It will be interesting if these impressive trends continue through the end of 2015 and into 2016.
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