Las Vegas has developed throughout the years by visionaries; and The Mirage embodied that type of transformation. On July 17, after operating for 34 years, the iconic hotel-casino presented an emotional closing ceremony, complete with volcano explosions, before closing its doors. The property will be reinvented as Hard Rock Las Vegas with the signature giant guitar. The property is under the ownership of Florida’s Seminole Indian Tribe, the first Native American operator on the iconic Las Vegas Strip.
Far South Las Vegas Boulevard south of the Strip is about to undergo some changes that could be transformative long term just as the expectations are with the $2 billion Allegiant Stadium.
“The industry is clicking on all eight cylinders,” said Frank Schreck, a partner with Brownstein Hyatt Farber Schreck who was a one-time member of the Nevada Gaming Commission.
The four-day G2E at The Venetian Expo Center kicked off an historic run for Las Vegas that will be hard to be topped in the future that includes the Las Vegas Grand Prix Formula One race the week before Thanksgiving, CES, the Consumer Electronics Show in January, and culminates in the Super Bowl at Allegiant Stadium in February.
Ron Smith developed a very successful business, owning and operating several McDonald’s franchises. Under Smith’s FRSCO Corp., his company is now considered the valley’s second-largest owner/operator group.
The resort industry on the Las Vegas Strip may have a reputation for opulence and excess, but local gaming companies also strive to implement sustainable programs that promote food, water, energy and waste conservation within a fragile Mojave Desert environment.
A prominent national gaming attorney said the Las Vegas casino industry returned to its pre-recession level in 2019 and expects Southern Nevada will build on that momentum in 2020 and beyond.
The vacancy rate for Las Vegas’ retail center continued to decrease during the third quarter and the office and industrial markets remained steady, according to the latest report from Colliers International.
It couldn’t be better for Las Vegas when it comes to looking at the latest gaming numbers, outside of baccarat that is, and factoring in visitors coming to Southern Nevada through McCarran International Airport.