The first of two Riviera implosions took place this morning as the Monaco Tower was taken down. A series of fireworks and live musical performances marked the occasion as onlookers flooded the sidewalks to see the tower fall.
Video: Jay Brannan.
Riviera's Monte Carlo Tower will be imploded later this summer. It was delayed after asbestos was discovered.
Tuesday, June 14, 2016
Friday, June 03, 2016
Park MGM is new Monte Carlo Name
Monte Carlo will be renamed Park MGM as part of a $450 million remodeling project. The new name was announced in an MGM Resorts International press release earlier today.
The property will also feature a "hotel within a hotel" concept with NoMad Hotel occupying a small portion of the rooms. NoMad will be operated by the New York City based Sydell Group.
It's unclear what will happen to Monte Carlo's current "hotel within a hotel" concept Hotel 32.
Re-naming Monte Carlo after the adjacent Park promenade was a fairly predictable move, but attaching the MGM brand to the property is kind of a head–scratcher.
While I understand "MGM" is a valuable brand name to the company, having two different properties on the same street with MGM in the name could become pretty confusing.
I could see a drunk tourist who cant remember the exact name of the hotel telling a cabbie to take him to MGM which would probably get him dropped off at MGM Grand.
The property will also feature a "hotel within a hotel" concept with NoMad Hotel occupying a small portion of the rooms. NoMad will be operated by the New York City based Sydell Group.
It's unclear what will happen to Monte Carlo's current "hotel within a hotel" concept Hotel 32.
Re-naming Monte Carlo after the adjacent Park promenade was a fairly predictable move, but attaching the MGM brand to the property is kind of a head–scratcher.
While I understand "MGM" is a valuable brand name to the company, having two different properties on the same street with MGM in the name could become pretty confusing.
I could see a drunk tourist who cant remember the exact name of the hotel telling a cabbie to take him to MGM which would probably get him dropped off at MGM Grand.
Tuesday, May 31, 2016
MGM buys Borgata - Monte Carlo Rename Next?
Boyd Gaming has agreed to sell its 50% ownership stake of The Borgata in Atlantic City to MGM Resorts International for a purchase price of $900 million. MGM was already the owner of the other 50% stake, however Boyd was the operator of the hotel and casino.
The announcement was made via separate MGM Resorts and Boyd Gaming press releases.
After the sale is complete MGM Resorts will transfer ownership of The Borgata to their real estate subsidiary MGM Growth Properties. The MGP REIT will then lease the property back to MGM, who will operate the hotel and casino. Borgata will become an M Life Rewards property.
This transaction doesn't have a direct impact on Las Vegas, but there's an interesting wrinkle. Now that MGM owns 100% of The Borgata I assume they are free to use "Borgata" as a brand name in Las Vegas.
Last year it was announced that Monte Carlo would be getting a name change. I had speculated that Borgata Las Vegas would be a great name for Monte Carlo. MGM's purchase of The Borgata today takes that unlikely scenario one step closer to reality.
Update - June 3, 2016: I guess it wasn't meant to be. The new name of Monte Carlo is Park MGM.
The announcement was made via separate MGM Resorts and Boyd Gaming press releases.
After the sale is complete MGM Resorts will transfer ownership of The Borgata to their real estate subsidiary MGM Growth Properties. The MGP REIT will then lease the property back to MGM, who will operate the hotel and casino. Borgata will become an M Life Rewards property.
This transaction doesn't have a direct impact on Las Vegas, but there's an interesting wrinkle. Now that MGM owns 100% of The Borgata I assume they are free to use "Borgata" as a brand name in Las Vegas.
Last year it was announced that Monte Carlo would be getting a name change. I had speculated that Borgata Las Vegas would be a great name for Monte Carlo. MGM's purchase of The Borgata today takes that unlikely scenario one step closer to reality.
Update - June 3, 2016: I guess it wasn't meant to be. The new name of Monte Carlo is Park MGM.
Wednesday, May 25, 2016
Sands Arena behind Venetian and Palazzo Announced
Las Vegas Sands and The Madison Square Garden Company have announced plans to build a new 17,500 seat arena behind Sands properties The Venetian and Palazzo.
The partnership was announced in a press release earlier today and will also involve Azoff MSG Entertainment, Live Nation, and Oak View Group.
At first glance this seems like a direct competitor to MGM's new T-Mobile Arena, however this venue will be slightly different as it will be designed for music concerts first and foremost. The arena won't be hosting an NBA or NHL team, but UFC and boxing might be a possibility.
The first question is whether Las Vegas really needs another arena like this. Along with the new T-Mobile Arena many other large music venues scatter the Strip including MGM Grand Garden Arena, Mandalay Bay Events Center, Axis at Planet Hollywood, The Colosseum at Caesars, and the upcoming new Monte Carlo Theater.
I'm guessing Sands and MSG have done their homework and determined the demand will be there. MSG has apparently had great success in the Los Angeles area by remodeling the Forum to a similar music centered arena.
It will also be interesting to see what kind of amenities will surround the arena. Sands will be building a walkway back, but it's not really clear if there will be any dining and shopping similar to The Linq Promenade and The Park.
Another angle is the arena's close proximity to the upcoming Wynn Paradise Park development. I suppose there could be some synergies if Wynn and Sands were willing to work together to create some kind of pedestrian access between the two.
The partnership was announced in a press release earlier today and will also involve Azoff MSG Entertainment, Live Nation, and Oak View Group.
At first glance this seems like a direct competitor to MGM's new T-Mobile Arena, however this venue will be slightly different as it will be designed for music concerts first and foremost. The arena won't be hosting an NBA or NHL team, but UFC and boxing might be a possibility.
The first question is whether Las Vegas really needs another arena like this. Along with the new T-Mobile Arena many other large music venues scatter the Strip including MGM Grand Garden Arena, Mandalay Bay Events Center, Axis at Planet Hollywood, The Colosseum at Caesars, and the upcoming new Monte Carlo Theater.
I'm guessing Sands and MSG have done their homework and determined the demand will be there. MSG has apparently had great success in the Los Angeles area by remodeling the Forum to a similar music centered arena.
It will also be interesting to see what kind of amenities will surround the arena. Sands will be building a walkway back, but it's not really clear if there will be any dining and shopping similar to The Linq Promenade and The Park.
Another angle is the arena's close proximity to the upcoming Wynn Paradise Park development. I suppose there could be some synergies if Wynn and Sands were willing to work together to create some kind of pedestrian access between the two.
Monday, May 16, 2016
Robert Irvine Restaurant coming to Tropicana
Celebrity chef Robert Irvine best known for his Food Network shows Dinner Impossible and Restaurant Impossible will be opening a restaurant at Tropicana in 2017.
Irvine announced the restaurant at a press conference earlier this evening. In true Vegas style he arrived by repelling down the building at Tropicana.
Parent company Penn National has planned improvements for Tropicana since purchasing the resort last year. Having a well known celebrity chef should breathe some life into the property and help to turn around anemic results.
Penn National is a relative unknown in Las Vegas, but they are an established gaming operator with casinos throughout the country. With their acquisition of M Resort in 2011 and now with their purchase of Tropicana they are slowly building a Las Vegas presence.
With Caesars Entertainment in bankruptcy and MGM Resorts doing things to upset their customers I think Penn National could have an opportunity to pick up some market share. I expect Penn to keep expanding their Las Vegas profile in the coming years.
Irvine announced the restaurant at a press conference earlier this evening. In true Vegas style he arrived by repelling down the building at Tropicana.
Parent company Penn National has planned improvements for Tropicana since purchasing the resort last year. Having a well known celebrity chef should breathe some life into the property and help to turn around anemic results.
Penn National is a relative unknown in Las Vegas, but they are an established gaming operator with casinos throughout the country. With their acquisition of M Resort in 2011 and now with their purchase of Tropicana they are slowly building a Las Vegas presence.
With Caesars Entertainment in bankruptcy and MGM Resorts doing things to upset their customers I think Penn National could have an opportunity to pick up some market share. I expect Penn to keep expanding their Las Vegas profile in the coming years.
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