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Great Bargains in Las Vegas Attracted Hordes of Shoppers

Igor — Tue, 01 Dec 2009 18:24:06 +0000

Black Friday in Las Vegas had attracted hordes of shoppers, and many visitors to the city have even traveled very early in the morning, just so they could be at the stores before the majority of the shoppers grab the best deals.

The Shoppers’ Stories

One schoolteacher said in an interview that she drove all the way to Las Vegas from Bullhead City, Arizona to grab the best deals on sale that day in the city. She even admitted that she left home very early, at 3 a.m., so that she could catch the opening hours of the first mall that she wanted to visit yet still have much time on her hand to go shopping at other malls and stores.

This is just one of the stories of the shoppers like her who flooded the city yesterday. These visitors to Las Vegas all want the same thing, to get the best items at the best deal possible, especially since many stores are offering great sales and discounts as Black Friday officially marks the start of the Christmas season shopping spree for many.

In fact, when you drive around the city that day, you will see a lot of people already hanging around malls even before they officially open for the day. Who would not want to take advantage of toys that used to sell at $100 but can now be bought at 20% off, right?

Increased Revenues or Not?

With these many people flocking to the fair city of Las Vegas, it is just right to think that the city is going to have a very busy Christmas shopping season this year and an increased revenue to boot.

Although there is an increased traffic compared to last year, this does not necessarily mean that there will be an increased sales rate. In fact, the National Retail Federation’s estimation of this year’s holiday sales states that there will be a 1% decrease from last year’s Christmas shopping sales, and this year will probably only see a $437.6 billion revenue. They based their computation on the economic model which makes use of many indicators such as the unemployment rates as well as the housing data. The assessment of this year’s shopping sales has also taken into consideration the monthly retail sales reports, among others.

A decrease in revenues or not, we will just have to wait and see how this year pans out as reports come in after the holiday season is over.

Las Vegas Seeing Empty Seats

Igor — Mon, 23 Nov 2009 16:48:35 +0000

The regular visitors of Las Vegas are not spending that much when they are in the city. They will still enjoy what the city offers, but they are not shelling out that much money as they would normally have two to three years ago. No more expensive dinners at expensive restaurants. Instead, they have opted to cut down on their costs.

The Average Joe in Las Vegas

If before, an average Joe in Las Vegas would have spent $2,000 to $3,000 on a gambling spree, now, he is gambling wisely. His bets have dropped to $600, which he will spread over a four-night stay in the city. The average visitor would have spent some money shopping and dining in fine restaurants, but now, he opts to shop less and divide his money in cash games, but not the expensive tables though. Furthermore, he is also limiting his bets at small slots games and sports betting but will now hesitate on playing at high roller tables.

Gamblers who place huge bets have always been the lifeline of this Sin City, and now that many gamblers are cutting back on their expenses, it is a fact that the city is reeling from the decreased revenues. Moreover, the financially-turbulent times have played a very significant negative role to the economy of Las Vegas.

The Empty Seats

The businesses that have been greatly affected by the recession are the gambling industry. When you look around these casinos and hotels, you will see that the casino floors are not brimming with gamblers. In fact, it is no longer surprising to see half-empty casino floors with wiser gamblers who spend less on their bets.

Because of the decrease rate of visitors and tourists into the city, other businesses are now also suffering. Taxi drivers are grumbling that they have to wait a longer period of time in between pickups. Furthermore, when they do get a client, the clients would always negotiate for a lower fee, and aside from a lower fee, their clients would often not leave them any tips, and those who did would only give them a very minimal tip.

The airline companies are seeing the effects of the recession, too, as there are more vacant seats. Furthermore, airline companies are also offering discounted air tickets just so they could attract passengers.

The hotel rates are now so low that even high-class hotels are pushed into slashing prices off their rates to keep up with the smaller-scale hotels.

What is happening in the Sin City is not a good omen at all. If this keeps up, Asia is going to take the crown off Las Vegas’ head as the gambling capital of the world.

Expect an Explosive Las Vegas New Year

Igor — Fri, 20 Nov 2009 19:12:09 +0000

Las Vegas has much in store for you this coming New Year, and City of Lights promises that it will be one explosive New Year that will surely be remembered. So, what are you waiting for, book your ticket, fly to Las Vegas, and spend your New Year right.

Another Promotion to Attract Visitors

Las Vegas is going to give an extremely exciting New Year this coming 2010 to attract visitors. Although this has been a yearly event that the city offers, this coming New Year is, without a doubt, going to be a major one so far, especially since the last year’s celebration left the visitors wanting for more.

This New Year’s celebration will be held once more at the usual places atop some of the city’s best casinos/hotels. Among these hotels are the Stratosphere Tower and the MGM Grand. Firework displays will also be lighted on top of the rooftops of Planet Hollywood and Caesars Palace, and other hotels that will serve as hosts for the fireworks display include the Treasure Island and the Venetian Hotels. Two casinos/hotels that will be launched by the end of the year will also participate in this major fireworks display, and these are the Aria Resort and Casino as well as the CityCenter Complex of the MGM Mirage.

With these towering mega-buildings, visitors and residents alike will surely be entertained by the majestic fireworks display.

A Promise to Delight

As stated above, last year’s celebration left many wanting for more, and an estimated crowd of almost a quarter million was disappointed.

This New Year though, the city is promising a better one as it has moved the fireworks displays back on top of their tallest buildings. In fact, the committee delegated to work on this event has been planning this for a year now, and they have worked with important organizations to meet fire and buildings regulations, especially since this major event was scaled down after a fire accident at the Monte Carlo Hotel Casino. Nobody was seriously injured though, but still, it had been a major inconvenience since over 6,000 people, both guests and employees, had to evacuate the premises.

The preparation for the 2010 New Year celebration called for over half a million dollars’ worth of fireworks. Furthermore, the Las Vegas Boulevard will be closed for the said celebration, which is now being called “America’s party.”

Spend your holidays in Las Vegas and get the chance to view a majestic fireworks display.

Visitors Get Lucky in Las Vegas

Igor — Mon, 16 Nov 2009 00:22:56 +0000

How is this for a change? Visitors get lucky when they visit Las Vegas, and no, it is not by playing at the casinos. They get to live a luxurious life for a night or two, and this at a fraction of the cost.

For an Increase in Inflow of Bucks

We all know what is happening in Las Vegas, right? Hotels are slashing prices off their usual rates to attract visitors, and restaurants are also doing the same. With the revenues of the casinos limping, casino operators are also offering a variety of promotions to lure gamblers and spend their money.

These drastic measures were done by business operators in Las Vegas because they are in dire need of an increased inflow of bucks into their coffers, especially since the recession has severely crippled their revenues.

So, what is Las Vegas offering right now, and how can guests and visitors get lucky when they visit the city?

Extravagant Offers

Nowadays, expensive room rates can be rented at a very good discount. Take for example Station Casino. This casino is offering only $125 for two nights, with a free $100 cash to splurge on the foods and drinks that they are offering. With this great bargain, it would seem that the guest will only be spending about $12.50 per night.

This is also the promotion that Red Rock Casino is offering. Visitors get to pay only $250 for two nights, and they get to spend a free $200 worth on foods and drinks as well as spa services.

For people who enjoy and love food, they can spend as little as $22.95 on a dinner buffet at The M Resort Spa & Casino. Their menu includes scrumptious roast beef and shrimp as well as delectable crème brulee and tempting chocolate soufflé. Their offer is good only on Mondays through Thursdays. Do you want to know more about this offer? This offer from The M Resort also covers limitless beer and wine.

How about entertainment and shows? Of course, their prices are also discounted. Even the Cirque du Soleil is now slashing prices off their show tickets.

If you want to know where you can get discounted show tickets, then check out Tix 4 Tonight, which is a discounter. You have to hurry though and get the ticket to the show you want to see because the tickets from Tix 4 Tonight run out quickly.

Another AAA Award for Bellagio Hotel Las Vegas

Igor — Tue, 10 Nov 2009 21:05:48 +0000

This year, Bellagio Hotel Las Vegas has accepted another Five Diamond Award from the very esteemed and prestigious AAA. In fact, this is Bellagio’s ninth award for nine consecutive years, proof that this hotel/casino is indeed one of the best in its industry that offer excellent restaurant services.

What This Award Means

People are always going to look for high quality and fine-dining experiences, and AAA is one organization that tells people where to go if they are looking for excellent services, so their awards are much coveted in the industry.

Right now, Bellagio’s Picasso Restaurant, known for its exemplary cuisine and excellent services, has accepted an AAA award. Another Bellagio restaurant that earned this much-coveted AAA award is the La Cirque, and this is the restaurant’s seventh consecutive year of having won an AAA award.

These awards are proof that both the Picasso and Le Cirque restaurants of Bellagio continue to give the best in terms of excellent cuisine, quality services, and fine-dining experience amidst a very luxurious and elegant environment. These awards only show that Bellagio is committed to providing superior services each and every time they are visited by their diners, and, in fact, Picasso and Le Cirque are two of the five restaurants that have earned this very desirable award in the city of Las Vegas.

Picasso

Chef Serrano’s dishes have been inspired by the Mediterranean cuisine, especially since he lived much of his life in both France and Spain, so his dishes have really captured the essence of Mediterranean cooking. But what made his restaurant exemplary were not his dishes alone because his attractive ceramic pieces have also captured the delight of many of his diners. Of course, with a restaurant of this high quality, it follows that the services are also perfect.

Le Cirque

Likewise, Le Cirque also offers the best cuisine amidst a very romantic setting of its very luxurious dining room. Who would not want to indulge his senses in world-class wines and exemplary dishes and also get to enjoy the breathtaking view of the beautiful Bellagio Lake, right?

Bellagio has much to boast of, especially since two of its restaurants have won the most sought after AAA award, and people should take note that it is very rare indeed to have two AAA-awarded restaurants under one roof. And earning two such awards is a very rare feat because AAA is evaluating over 58,000 restaurants yearly in the whole of the United States and only a measly 0.28% of them, or roughly 113 resorts and 52 restaurants, get to receive an award for the year 2010.

Las Vegas Saving Grace

Igor — Tue, 03 Nov 2009 18:10:55 +0000

There really is a lot of hope placed on the big project started by both MGM Mirage and Dubai World. In fact, this big project is being seen as the saving grace of Las Vegas, which, as we all know, has been hit the hardest by the recession. The city is now crippled by half-finished buildings, closed casinos, high unemployment rate, low real estate market, and a whole lot more, but, as stated above, they have one big hope that could at least put things to right, and this is the City Center.

Amidst the Financial Turmoil

The biggest project that Las Vegas will be seeing for years to come was started last 2007, but its timing was way off as it was just the start of the recession, and when the real estate market collapsed, so did a lot of businesses. The City Center shares started at a good $74 back in 2007, but it soon dropped to a low of $1.81 due to the recession.

City Center, an $8.4-billion venture between MGM Mirage and Dubai World, is a very ambitious project as it will provide a home to condos, hotels, casinos, and stores and boutiques. It could be said that this huge project is, by far, the loftiest project that the city has ever seen, but since it is being constructed right smack in the middle of the recession, it cannot be denied that the project went through some rough days. In fact, a dispute happened between the two partners that posed a huge threat, bankruptcy. And amidst all these, there were construction deaths as well as a shareholder lawsuit.

But the project has to push through, especially since the city is counting on its completion to provide them the much-need jobs and the revenues that it needs.

Reduction in Prices

The recession has the owners of the City Center running scared though. With the real estate industry down, they are anxious that their units will not be sold in time for the opening. To avoid this, the prices of the units were reduced in the hopes of attracting buyers, but the question remains, is it enough to give them their buyers, especially since there are a variety of other real estate options being offered in the city?

With a lot at stake in the completion of the City Center, let us hope that it will turn out for the better.

Wynn Resorts Talks of Las Vegas’ Uncertain Future

Igor — Wed, 28 Oct 2009 10:13:20 +0000

Despite the many efforts that Las Vegas is doing, it seems that it will take a long time for the City of Lights to recover from the losses that the recession has dealt the once thought of recession-proof city.

Now, Wynn Resorts is saying that Las Vegas is facing a very uncertain future.

Doom, Gloom

Steve Wynn, the Chief Executive of Wynn Resorts, is seeing a very uncertain future, indeed, for the City of Lights, particularly since many of its visitors are now cutting back on their spending habits and opting to save money instead, rather than having a glamorous time in the city.

Las Vegas is now riddled with half-finished buildings as well as hotel projects that cannot push through because of lack of funds. As a matter of fact, Wynn Resorts has also suffered tremendously from the effects of the recession. It reports a net income reduction of $34.2 million from a high of $51.2 million, almost 33% of its usual, because of the higher hotel and tax adjustments. The fact that the luxury domestic traveler market remains on the negative side and that companies are also canceling their reservations in their Las Vegas properties is not helping the matter any. In fact, two companies have already withdrawn from holding their major events at the Wynn Resorts.

Other big casino operators have also reported revenue losses. Harrah’s Entertainment, considered as a major player in the gambling industry, has given a report that they lost $1.62 billions in revenues. Their revenue has also fallen by about 14%. If before they had a revenue of $2.65 billion, now they are only showing a revenue of $2.28 billion.

Go East

Right now, Wynn Resorts is investing in Asia to increase its revenues, rather than spend their money in the country, especially since the value of dollar has fallen. Wynn Resorts is going to expand its business arms in Macau as the company aims to develop new casinos along Macau’s Cotai Strip, and this is also what other casinos are doing, investing their money in Asia, leaving Las Vegas dry.

The gambling industry is seeing Asia as their bright spot during this troubled financial times. There might be some ups and downs, but the expectations are high that the revenues taken from their gambling on the Asian gambling market is going to go well for them. Despite the fact that casinos have experienced a lower revenue during the early part of the year, revenues were up by August and September, coinciding with the time that the government of China has reduced its travel restrictions.

Las Vegas Sands’ Macau Venture Needs Financing

Igor — Thu, 22 Oct 2009 15:56:21 +0000

Big dreams need big money, and this is exactly what Las Vegas Sands’ is seeking right now, someone who can give them financial aid to resume work on their Macau project. In fact, the company needs as much as $2 billion to finish their project, as stated by Michael Leven, the Chief Operating Officer of Las Vegas Sands’ in Macau.

The Mothballed Macau Project

In an interview, Leven admitted that the company is seeking financial aid from interested lenders, and that they are hoping to have the money by the end of the month. This money is going to go to lots 5 and 6 of their Macau project to complete the 21,000-room hotel plus casino complex, which is situated on Macau’s Cotai Strip. The said project was stopped because of increasingly difficult credit market and because of the continuing decline of their revenue. Moreover, the increasing risk of load defaults has also hindered the growth and development of the project.

To entice lenders, the company is willing to add more equity on their Macau project, aside from the $1.6 billion that they have already exhausted on the four hotels, although Leven never really answered just how much the additional equity would be. He gave an estimate though that they would need $3.6 billion to totally finish the project and have it up and running by June 2011.

Pushing to Get That Money

A lot of things depend on getting the financial aid that they need. One, the Macau project will bring the revenues that Las Vegas Sands so desperately need. It is, without a doubt, that Las Vegas Sands’ is financially limping, and by opening their casino in Macau, it will bring in the revenues that they need. Two, they aim to make Macau the new Las Vegas in Asia, and they admit that their Macau project is the key to their growth there. Aside from this, they also want to make their Sands’ Macau the top place to be to hold conventions and meetings. Three, their casino-hotel will bring jobs to the people in Macau, and already, the company has began hiring its employees.

Truth to tell, both Singapore and Las Vegas Sands’ are hoping to lure 17 million tourists and visitors. This is a win-win situation for the both of them – Sands’ gets to increase its profits and Singapore gets a tourism revenue that reaches into the billion-dollar ranges, tripling its usual tourism revenue.

A Major Rugby Tournament to Visit Las Vegas

Igor — Sun, 18 Oct 2009 13:27:27 +0000

Remember when it was stated that Las Vegas is going the conservative route to attract more tourists into the city?

Not only are they going to create more special events like hosting the Nascar Awards or hosting a Beyonce’ concert, but now, they are also going to play host to a huge sporting event. And this is the USA Sevens Rugby Tournament, which is going to attract a big number of fans as well as tourists from all over the country.

A Win-Win Situation

Tournament organizers of the USA Sevens Rugby Tournament stated in an interview that they are more than confident of having made the right decision of choosing Las Vegas as their next stop on February 13 and 14 of next year.

For the past five years, the cities of Los Angeles ad San Diego were the proud hosts of this major USA tournament, but now, the organizers of the tournament have opted to choose Las Vegas as their next host for a number of good reasons.

One, they recognize the fact that Las Vegas is a city that attracts millions of visitors yearly, especially since the city is associated with fun parties, and by signing a multi-year commitment and making a great partnership with the city, they know that the tournament is going to have more exposure. Two, the fact that they have noticed a five-fold interest boost, both domestically and international, on their tournament when their decision to hold it in Las Vegas was made public is more than proof enough that their decision was right.

As for Las Vegas, Mayor Oscan Goodman is confident that holding the tournament in their fair city will attract millions of fans and tourists form all over the globe, thereby, increasing their revenues.

The Sevens’ Calendar

The tournament is going to start on December 4 and 5, and this will be held in Dubai. The following weekend, the tournament will head on to South Africa, after which it visits Wellington for its third leg of the tournament. This is, by far, one of the most colorful events on their calendar before they drop by Las Vegas. After this, the party will head on out to Australia, Hong Kong, England, and Scotland.

Up to now, New Zealand is the country that dominates the World Series, and they now have eight titles under their belt, all thanks to Coach Gordon Tietjens. Sadly, South Africa defeated them the last time.

Las Vegas Fights Against the Recession

Igor — Tue, 13 Oct 2009 12:11:40 +0000

Who would have thought that Las Vegas, considered as the recession-proof Sin City, would have been one of the hardest hits by the global financial crisis? But sadly, this seems to be the case as Las Vegas was proven to be vulnerable to the recession after all as half-finished buildings and closed casinos dot the city. Aside from this, its real estate market, which used to be a strong industry, has slowed down a great deal.

But the recession will not stop Las Vegas from fighting back. Yes, it might have crippled the city, but it is going to fight back.

The Silver Lining

Real estate might be slow in Las Vegas, but this has not stopped MGM Mirage from finishing its biggest project so far. The CityCenter, which is now being looked at as the silver lining, is going to open soon. The $8.6-billion project boasts of more than 2,400 condo units as well as luxurious non-gaming hotel suites and rooms. Aside from these, it also boasts of a big gaming resort with a massive number of more than 4,000 rooms.

To attract buyers into purchasing the condo unit, MGM Mirage has decreased the prices of its condo units by a big amount of 20% to even 30%. Their initial plan was to offer $1,000 to $2,000 per square foot, but because most people are strapped for cash right now and the company wants the condos and condo-hotel units filled, they have reduced it to less than $1,000 per square foot. This move proved to be a good step for the company as they have already sold more than 55% of the units.

MGM Mirage expects more condo units to be sold by the end of the year as they finish the construction of the colossal CityCenter.

More Money Expected to Roll In

The CityCenter is expected to create a huge number of jobs for those who are in need of them, and furthermore, the tax earned from the CityCenter will greatly benefit the city.

Those who purchased condo-hotel units will also earn from these as their units are going to operate like hotel suites and rooms wherein the owners can rent out the units per night, the proceeds of which will be shared with the hotel management. So when the economy starts to pick up once more, those who opted to purchase condo-hotels can expect to make a good profit.

All in all, the CityCenter is just one of the big steps that Las Vegas is looking forward to when it comes to picking itself up, dusting itself off, and moving on.

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