s2dbaker
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February 5th, 2014 at 4:56:55 PM permalink
The Saraha is back. Reopening as the SLS Las Vegas (I guess "The Quad" was already taken) on Labor Day Weekend. Somebody get me a souvenir chip.
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djatc
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February 6th, 2014 at 3:19:29 AM permalink
Quote: s2dbaker

The Saraha is back. Reopening as the SLS Las Vegas (I guess "The Quad" was already taken) on Labor Day Weekend. Somebody get me a souvenir chip.



I missed all the old "theme" casinos from the 90s and before. Was the sahara set in an Arabian era? What were their target market? Any good AP stories from there?
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1BB
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February 6th, 2014 at 5:30:48 AM permalink
Quote: djatc

Quote: s2dbaker

The Saraha is back. Reopening as the SLS Las Vegas (I guess "The Quad" was already taken) on Labor Day Weekend. Somebody get me a souvenir chip.



I missed all the old "theme" casinos from the 90s and before. Was the sahara set in an Arabian era? What were their target market? Any good AP stories from there?



The theme was Morrocan. I'm not quite sure how NASCAR and roller coasters fit with that but, hey, it's Vegas. No AP stories but when the Rat Pack performed there Sammy had to enter through the kitchen. The guy still didn't gain a pound.

When I saw Svegas in the thread title I wondered if it was about a new casino in Sveden. :-)
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mickeycrimm
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February 6th, 2014 at 7:04:23 AM permalink
Quote: djatc

Quote: s2dbaker

I missed all the old "theme" casinos from the 90s and before. Was the sahara set in an Arabian era? What were their target market? Any good AP stories from there?



There was good VP with promotions going way back. A friend of mine was working a major cashback promotion there as late as 2009, that is, until he got the boot.
"Quit trying your luck and start trying your skill." Mickey Crimm
Nareed
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February 6th, 2014 at 7:22:28 AM permalink
Quote: s2dbaker

The Saraha is back. Reopening as the SLS Las Vegas (I guess "The Quad" was already taken) on Labor Day Weekend. Somebody get me a souvenir chip.



Well, that's the second casino that rises from what everyone was sure was the grave (The Plaza would be the first). So not too bad, eh?

Now, if they could repopulate the North end of the Strip...
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kewlj
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February 6th, 2014 at 8:20:23 AM permalink
Quote: Nareed

Quote: s2dbaker

The Saraha is back. Reopening as the SLS Las Vegas (I guess "The Quad" was already taken) on Labor Day Weekend. Somebody get me a souvenir chip.



Well, that's the second casino that rises from what everyone was sure was the grave (The Plaza would be the first). So not too bad, eh?

Now, if they could repopulate the North end of the Strip...



What about Lady Luck to Downtown Grand? Not sure the Plaza or Imperial Palace/Quad qualify because neither closed. They were just renovated while still operating. Lady Luck, Sahara, and now Bill's gambling hall, were closed for a long period, gutted, and basically rebuilt.
Nareed
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February 6th, 2014 at 10:54:02 AM permalink
Quote: kewlj

What about Lady Luck to Downtown Grand?



I forgot about that one.

Quote:

Not sure the Plaza or Imperial Palace/Quad qualify because neither closed.



I think the PLaza closed, and the death knell tolled very loud, as it did for the Sahara.

Quote:

Lady Luck, Sahara, and now Bill's gambling hall, were closed for a long period, gutted, and basically rebuilt.



I don't think there was ever any question that Bill's would re-open in some way. For one thing it's very well located, though so were many casinos to the North, and for another Caesars is a going concern.

What I now think I'm seeing is a trend where older casinos are refurbished or remodeled, in large or small ways, and then re-opened with a different name and even for a different market. That would be as opposed to the 90s/2000s when older casinos were demolished and grander ones went up instead. I suppose the unfinished projects along the northern Strip, as well as the rather poor showings by some completed ones. Not to mention that remodeling is a lot cheaper than building.
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UCivan
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February 6th, 2014 at 12:17:31 PM permalink
How to say SLS correctly? S-L-S? SiL-S? too many syllables..
Greasyjohn
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July 6th, 2014 at 7:14:36 AM permalink
Quote: djatc

Quote: s2dbaker

The Saraha is back. Reopening as the SLS Las Vegas (I guess "The Quad" was already taken) on Labor Day Weekend. Somebody get me a souvenir chip.



I missed all the old "theme" casinos from the 90s and before. Was the sahara set in an Arabian era? What were their target market? Any good AP stories from there?



As I recall they had bad VP and lousy BJ.
AxelWolf
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July 6th, 2014 at 8:05:56 AM permalink
Quote: Greasyjohn

Quote: djatc

Quote: s2dbaker

The Saraha is back. Reopening as the SLS Las Vegas (I guess "The Quad" was already taken) on Labor Day Weekend. Somebody get me a souvenir chip.



I missed all the old "theme" casinos from the 90s and before. Was the sahara set in an Arabian era? What were their target market? Any good AP stories from there?



As I recall they had bad VP and lousy BJ.

This was one of the best places for VP and all around promotions. Probably the first place I was involved in a 2 to 1 BJ promotion.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
Ibeatyouraces
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July 6th, 2014 at 8:25:41 AM permalink
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bigfoot66
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July 6th, 2014 at 8:29:02 AM permalink
Didn't the Sahara run the "No Commission Baccarat" experiment for a few hours?
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Ahigh
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July 6th, 2014 at 12:55:22 PM permalink
SLS is pronounced by sounding out each letter every time I have heard someone refer to it, including a gentleman who is building elevators in the casino. So I'm pretty sure that's correct.

SLS has no affiliation with Sahara except that they purchased the property from the former owner of the Sahara. Same with Cromwell and Bill's.

SLS has hired multiple dealers from Stratosphere that I know of. The street knowledge of the local gangs and the anticipated troubles that the gangs have the potential to cause for the newcomer to the area (the owners of the SLS) is a hurdle not to be discounted.

When these places start renting out for $800/month instead of $350/month, that will be a good barometer for success for the SLS.



http://lasvegas.craigslist.org/apa/4506354251.html

Crime map for area
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rdw4potus
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July 6th, 2014 at 1:40:08 PM permalink
Quote: Ahigh

SLS is pronounced by sounding out each letter every time I have heard someone refer to it, including a gentleman who is building elevators in the casino. So I'm pretty sure that's correct.

SLS has no affiliation with Sahara except that they purchased the property from the former owner of the Sahara. Same with Cromwell and Bill's.

SLS has hired multiple dealers from Stratosphere that I know of. The street knowledge of the local gangs and the anticipated troubles that the gangs have the potential to cause for the newcomer to the area (the owners of the SLS) is a hurdle not to be discounted.



The hotel chain is pronounced by sounding out each letter every time. I'm sure you're right that the casino's name will be no different.

Aren't Cromwell and Bill's both brands of Caesars Entertainment? I guess I just assumed that Caesars maintained ownership of the building through the name change. Is that not the case?

You couldn't pay me to live north of Sahara between LVB and I-15. If I rent that apartment, does it come with a free Glock?
"So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett
mickeycrimm
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July 6th, 2014 at 1:43:34 PM permalink
Quote: rdw4potus

You couldn't pay me to live north of Sahara between LVB and I-15. If I rent that apartment, does it come with a free Glock?



That area is known as Naked City. And two Glocks would be better.
"Quit trying your luck and start trying your skill." Mickey Crimm
100xOdds
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July 6th, 2014 at 2:51:25 PM permalink
Quote: mickeycrimm

That area is known as Naked City. And two Glocks would be better.



I thought any area on the Strip south of the Stratosphere was safe?

is this SLS apt complex somewhere between the Stratosphere and Downtown?

and when will Echelon (former Saraha casino) open?
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rdw4potus
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July 6th, 2014 at 3:07:17 PM permalink
Quote: 100xOdds

I thought any area on the Strip south of the Stratosphere was safe?

is this SLS apt complex somewhere between the Stratosphere and Downtown?

and when will Echelon (former Saraha casino) open?



You're probably OK on LVB south of the Strat. Those apartments are a couple blocks west of LVB. There's just no reason for anyone to be there...well, no GOOD reason.

The SLS is the former Sahara property.

I think Boyd still owns the site for the Echelon, but construction is not immanent.
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tringlomane
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July 6th, 2014 at 3:10:20 PM permalink
Quote: rdw4potus



I think Boyd still owns the site for the Echelon, but construction is not immanent.



I thought Genting bought that and they were going to build "Resorts World - Las Vegas"?
Nareed
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July 6th, 2014 at 3:21:31 PM permalink
Quote: rdw4potus

I think Boyd still owns the site for the Echelon, but construction is not immanent.



Is it imminent?
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rdw4potus
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July 6th, 2014 at 3:23:05 PM permalink
Quote: Nareed

Is it imminent?



LOL! or perhaps eminent:-)
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mickeycrimm
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July 6th, 2014 at 3:34:54 PM permalink
Quote: 100xOdds

I thought any area on the Strip south of the Stratosphere was safe? is this SLS apt complex somewhere between the Stratosphere and Downtown? and when will Echelon (former Saraha casino) open?



Naked City is actually behind the Strat. It used to be a bad area, probably still is. I stayed at Budget Suites behind the Stardust about the time of the Wynn opening. It was pretty safe mainly because it was in an industrial area. Easy walking distance to the strip and buses. But the Stardust bought it out and intended to use the land as part of Echelon.
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Ibeatyouraces
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July 6th, 2014 at 3:35:54 PM permalink
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Tomspur
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July 6th, 2014 at 5:56:29 PM permalink
Wow, I'm pretty shocked at the low level of knowledge about this area from the people here.

1) SLS Las Vegas is on the South East corner of LV blvd and Sahara. It used to be the old Sahara casino, owned by Sam Nasarian (and is still owned by Sam NAsarian who happens to be the CEO of sbe entertainment).

2) The old Echelon site is further south on the western side, between Circus Circus and the Fashion Show mall. This property used to be owned by Boyd and is now owned by Genting. They have been approved for a casino and will be starting the construction sometime this year. The opening time for Resorts World LV is slated for somewhere in 2015 but more likely 2016.

3) The lot on the South West side of Sahara and LV blvd is now owend by MGM and will be used for outdoor events.

4) The land across from the big souvenir shop on the corner of LV blvd and Sahara will be redone into a CVS and other shops.

The real bad areas are more towards downtown and more West. I think SLS will have some issues with attracting consistent crowds but it isn't in the worst part of town, not by a long shot.

Hope all my facts check out :)
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Daddydoc
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July 6th, 2014 at 6:17:33 PM permalink
Quote: mickeycrimm

That area is known as Naked City. And two Glocks would be better.



I checked Google Street View.

https://www.google.com/maps/@36.145692,-115.161094,3a,75y,335.97h,81.78t/data=!3m4!1e1!3m2!1sbevR8K77r5Hc_O24TQQ8bQ!2e0

Looks like you should keep at least one of those Glocks in your pocket; I don't know if the holster would be fast enough.
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Ahigh
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July 6th, 2014 at 6:22:45 PM permalink
I drive through that neighborhood a few times a year to navigate into the strat without getting hung up on Las Vegas Blvd... My favorite spot is this spot where the pool has become reconditioned for a rock garden for the chidrens.

https://www.google.com/maps/@36.145912,-115.162053,3a,20y,108.94h,78.12t/data=!3m4!1e1!3m2!1sMz-zVF24qo6lwLPbVZGSqg!2e0
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Daddydoc
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July 6th, 2014 at 7:32:29 PM permalink
Is the whole neighborhood projects, or does it just look that way? It looks clean, but kinda creepy to me. Growing up in Philly, though, it certainly doesn't look like any project neighborhood I ever saw.
If government is the answer, it must have been a very stupid question.
MrV
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July 6th, 2014 at 7:36:21 PM permalink
"Rock garden for the childrens? (sic)"

Looks more like a sandbox.

What is so "bad" about that area, anyway?

Is there a lot of reported crime, or just a bunch of (*shudder*) low income non-white residents?

Ethnic diversity?

Perish the thought.
"What, me worry?"
kewlj
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July 6th, 2014 at 7:57:48 PM permalink
Quote: Tomspur

Wow, I'm pretty shocked at the low level of knowledge about this area from the people here.

1) SLS Las Vegas is on the South East corner of LV blvd and Sahara. It used to be the old Sahara casino, owned by Sam Nasarian (and is still owned by Sam NAsarian who happens to be the CEO of sbe entertainment).

2) The old Echelon site is further south on the western side, between Circus Circus and the Fashion Show mall. This property used to be owned by Boyd and is now owned by Genting. They have been approved for a casino and will be starting the construction sometime this year. The opening time for Resorts World LV is slated for somewhere in 2015 but more likely 2016.

3) The lot on the South West side of Sahara and LV blvd is now owend by MGM and will be used for outdoor events.

4) The land across from the big souvenir shop on the corner of LV blvd and Sahara will be redone into a CVS and other shops.

The real bad areas are more towards downtown and more West. I think SLS will have some issues with attracting consistent crowds but it isn't in the worst part of town, not by a long shot.

Hope all my facts check out :)



I would think that 2015, or even 2016 opening of Resorts World LV is extremely optimistic. I am sure you didn't come up with those dates and are quoting the projects projections, but they just seem pretty unrealistic to me. It's July 2014 now! It takes longer than a year or even two to build a project of that magnitude. Wouldn't surprise me if it was closer to the end of the decade.

Your #3 is interesting. I wasn't aware of that. What kind of outdoor events? If the improvements of the northern LVB area materialize as planned and hoped for, with SLS, Resort World LV, and something positive coming of the big blue monster, it wouldn't surprise me, if MGM doesn't change it's plans for that location, like with a new casino. They might want some 'footing' in a re-vitalized northern strip area (besides run down Circus Circus).

Good info, Tomspur. Thanx for sharing
Daddydoc
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July 6th, 2014 at 7:58:04 PM permalink
Quote: MrV


Is there a lot of reported crime, or just a bunch of (*shudder*) low income non-white residents?

Ethnic diversity?

Perish the thought.



I don't think I mentioned income level, ethnic diversity, or non-white. The link on page 2 has a crime report for the last month that does not look terrible. My comments were based on the appearance of the buildings. The street view images I looked at (until I got to LV Blvd) had about 4 people total, IIRC - Two black, two white. Doesn't bother me either way - I have lived in nice places, and in neighborhoods with crack dealers and transvestite prostitutes in the street behind me. I always kept aware of my surroundings in the latter places, especially at night, and had more than one experience of being chased back to my apartment - I was a lot skinnier and faster then.
If government is the answer, it must have been a very stupid question.
kewlj
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July 6th, 2014 at 7:58:22 PM permalink
Duplicate post
rdw4potus
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July 6th, 2014 at 8:04:54 PM permalink
Quote: MrV

"Rock garden for the childrens? (sic)"

Looks more like a sandbox.

What is so "bad" about that area, anyway?

Is there a lot of reported crime, or just a bunch of (*shudder*) low income non-white residents?

Ethnic diversity?

Perish the thought.



Lots of reported non-violent crime. And some horrible homes. If a complex fills in their pool with a couple tons of sand, they can't be too concerned with ants or...well...sand mites, eh?
"So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett
Tomspur
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July 6th, 2014 at 8:55:25 PM permalink
Quote: kewlj

I would think that 2015, or even 2016 opening of Resorts World LV is extremely optimistic. I am sure you didn't come up with those dates and are quoting the projects projections, but they just seem pretty unrealistic to me. It's July 2014 now! It takes longer than a year or even two to build a project of that magnitude. Wouldn't surprise me if it was closer to the end of the decade.

Your #3 is interesting. I wasn't aware of that. What kind of outdoor events? If the improvements of the northern LVB area materialize as planned and hoped for, with SLS, Resort World LV, and something positive coming of the big blue monster, it wouldn't surprise me, if MGM doesn't change it's plans for that location, like with a new casino. They might want some 'footing' in a re-vitalized northern strip area (besides run down Circus Circus).

Good info, Tomspur. Thanx for sharing



I think their projections for opening up RWLV is based on phases I would assume. The full thing could take 4 years easily as it looks to be massive but the gaming and other amenities might open first with some hotel and then the other things to follow later. THis is how I project the thing to go but I have no concrete knowledge of a completion date no.

The outdoor events will be music events and probably festival type ovents which apparently is now becoming HUGE business in LV. It is all about the amount of people you can bring to your area and the economic impact those people are likely to have. This seems to me what the big events like EDC and to a lesser extent the IHeart radio festivals and rodeos have taught us.

I'm excited to be sure as I think the North needs some pizzazz which I think RWLV and SLS will deliver.

KJ, have you driven past SLS yet? They are doing an amazing job there so far. Everything looks top drawer. Now we will have to see if they are able to draw locals as well as tourists to stay in a place which, at this moment, is still a little far removed from all the action.
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mcallister3200
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July 6th, 2014 at 11:41:05 PM permalink
I hope sls does well, but I doubt that they will, for the long run anyways. The Cromwell has been a flop, the Downtown grand is usually pretty dead, and sls is not surrounded by anything to draw people in. The market is a little bit over saturated as is, not sure where 3 new properties coming in will help. Maybe if sls has more competitive gaming than the last two openings they can draw in more locals than expected, but I have my doubts they will offer quality gaming.
Tomspur
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July 7th, 2014 at 12:06:35 AM permalink
Quote: mcallister3200

I hope sls does well, but I doubt that they will, for the long run anyways. The Cromwell has been a flop, the Downtown grand is usually pretty dead, and sls is not surrounded by anything to draw people in. The market is a little bit over saturated as is, not sure where 3 new properties coming in will help. Maybe if sls has more competitive gaming than the last two openings they can draw in more locals than expected, but I have my doubts they will offer quality gaming.



I think perhaps the gaming MIGHT be more competitive than what you think.

I will know more after August 8th when orientation starts :)
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Doc
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July 7th, 2014 at 8:08:09 AM permalink
Quote: Tomspur

3) The lot on the South West side of Sahara and LV blvd is now owend by MGM and will be used for outdoor events.

4) The land across from the big souvenir shop on the corner of LV blvd and Sahara will be redone into a CVS and other shops.


So just where along there was El Rancho Las Vegas located? That was well before my first visit to Las Vegas, and I've never been quite clear on its real location.
mickeycrimm
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July 7th, 2014 at 8:31:26 AM permalink
Quote: Doc

So just where along there was El Rancho Las Vegas located? That was well before my first visit to Las Vegas, and I've never been quite clear on its real location.



It was just south of the Sahara on the same side of the street. The owner closed it down when union employee's wouldn't accept a contract with lower wages.
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Ahigh
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July 7th, 2014 at 8:44:28 AM permalink
Quote: MrV

"Rock garden for the childrens? (sic)"

Looks more like a sandbox.

What is so "bad" about that area, anyway?

Is there a lot of reported crime, or just a bunch of (*shudder*) low income non-white residents?

Ethnic diversity?

Perish the thought.



I'm pretty sure it's rocks. But it does look a lot nicer in the Google Maps view, maybe it was sand at that time. I don't recall seeing all those toys before. I always recalled just seeing the sorts of rocks I have in my yard.
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Nareed
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July 7th, 2014 at 8:59:06 AM permalink
Quote: Tomspur

4) The land across from the big souvenir shop on the corner of LV blvd and Sahara will be redone into a CVS and other shops.



That would be good. By oddities of location and bus stops, I can reach most Walgreen's in the Strip, but not CVS as easily.

BTW, will Sahara Blvd (St? Ave?) be renamed in the near future?

Quote:

I think SLS will have some issues with attracting consistent crowds



Same problem the Sahara had: there's lilttle or nothing within walking distance (the Strat and CC are too far to walk, and through deserted streets to boot). But they have two things going: a bus stop and a monorail station. THis is enough only to draw in those curious about a new casino. Tor etain them the SLS will ahve to offer something. I'd say good games, but that's soooo unlikely as to be laughable ;)
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Doc
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July 7th, 2014 at 9:30:13 AM permalink
Quote: mickeycrimm

Quote: Doc

So just where along there was El Rancho Las Vegas located? That was well before my first visit to Las Vegas, and I've never been quite clear on its real location.

It was just south of the Sahara on the same side of the street. The owner closed it down when union employee's wouldn't accept a contract with lower wages.


We must be thinking/talking about different places. The one I have in mind was maybe the first casino hotel on what is now the strip. It was supposedly on the west side of the highway and burned down about 1960 after almost a 20-year run.
DrawingDead
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July 7th, 2014 at 9:42:06 AM permalink
I think what Resorts World will deliver to the neighborhood is 3,000 hotel rooms, later to become over 6,000. And I think that is what matters. Heads in beds, how many, and who they are. Screw me and my discount buffet ticket. My understanding is that the rather large Resorts World joint is to be a distinctly Chinese themed place catering to fly-in visitors from Asia, which the owner-developer "Genting Group" is supposed to be already well clued into serving. And if I had a little booth close by called "Drawing Dead's Laundry, Shoe-Shine, and Lucky Slot Machine" I'd be totally happy to have those new neighbors.

Since it is mentioned here, Naked City by the way has tamed down noticeably in the last several years from what it had been for a long time. I think at least partly because there are a lot fewer people living there now, because some old projects were torn down and others vacated and sealed up indefinitely after City political figures got very publicly pissed off about some repeated flurries of unsightly corpses getting strewn about. Naked City is really the ONLY thing arguably near (even a generous definition of) "The Strip" that is also actually in the borders of Las Vegas in a technical legal sense - and just barely in the City by a few feet at that.

I could direct y'all to some rougher spots that are at least as close to the SLS site as Naked City, and probably easier for the denizens to hoof it over if they were inclined to do that. But I don't really expect they'd be all that inclined to do that. I doubt many did that often from Naked City when it was still the old Sahara, either. What I'm referring to is in the old crumbling projects and the streets and alleyways between them to the east between roughly Lynnwood St. to Sherwood St. from just off Karen Ave. to near E. Sahara Ave. It doesn't carry a colorful informal historical name like "Naked City" and it isn't a large area, but some of the street commerce and rough stuff connected to it bubbles up to become intense at times. But folks there generally aren't going over to the Strip to play baccarat. They have neighborhood joints. A little "casino" called the "Eureka" on the NE corner of Sherwood & Sahara is probably the main one (occasionally I seem to develop a strange urge to stop in myself 'bout once or twice a year - and in less than an hour I'm cured of the urge again for up to a year). And really there isn't much reason I can think of for most visitors to concern themselves with that, because it isn't on the way to anything you'd be planning on a vacation and you'd have to work at it a bit to get over there and into it. As an accident, not gonna happen, unless you are "accidentally" leaving your hotel trying to find a place to buy goods and services that are not exactly legal supplied by somebody with an obvious territorial interest in a streetcorner.

And a side question maybe equally off topic of the thread title, or at least as off-Strip: Do the EDC (Electric Daisy Carnival) people actually have any money? And spend or gamble any of it? I kinda got the impression that the answer to that might be: "No, they don't; and they wouldn't anyways." But maybe my impression is all wrong.
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Tomspur
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July 7th, 2014 at 5:05:49 PM permalink
Quote: DrawingDead

And a side question maybe equally off topic of the thread title, or at least as off-Strip: Do the EDC (Electric Daisy Carnival) people actually have any money? And spend or gamble any of it? I kinda got the impression that the answer to that might be: "No, they don't; and they wouldn't anyways." But maybe my impression is all wrong.



As I had mentioned before, it is all about the economic impact which stretches quite far. They have an impact of about $300 million on the town while they are there. They eat, book hotel rooms, use cabs, go to clubs when they aren't at EDC so I would imagine their $$$ are pretty welcome tbh.

There are other groups who put in the long hours at the tables. Some conventions have been known to bring the whales as well as the PBR has more of a gambling type of crowd.

I think it is great that we are getting some new blood into this town and getting people interested in many different things even though I still worry about the town's core business.......a lot!
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djatc
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July 8th, 2014 at 12:16:36 AM permalink
So many casinos, but not enough great promotions. It's like the city just dried up in giving gamblers a good game. The only good promos I know are in off strip locals casinos, and even then they are still slim. We really need more George Maloofs, or individual casino owners that have more control over their properties.

Is the recession to blame for the cutbacks, or are we as a general population getting smarter about gambling?
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ams288
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July 8th, 2014 at 5:50:56 AM permalink
Quote: mcallister3200

I hope sls does well, but I doubt that they will, for the long run anyways. The Cromwell has been a flop,



A flop according to who? In what way?

(I'm not arguing with your point - I just haven't really seen anyone characterize it as a flop yet so I'm curious).
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DrawingDead
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July 8th, 2014 at 7:32:41 AM permalink
Quote: djatc

Is the recession to blame for the cutbacks, or are we as a general population getting smarter about gambling?

I'd reply "no." Neither. The industry in Nevada and the Las Vegas area has been reporting modest revenue growth with increases for several years now, but the large destination resorts on-Strip have been shifting their business model with less and less share coming from gaming, and increasing what they get from non-gaming stuff like paying $800 to get wrapped in seaweed in a spa and suchlike.
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Ahigh
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July 8th, 2014 at 7:44:07 AM permalink
Quote: DrawingDead

I'd reply "no." Neither. The industry in Nevada and the Las Vegas area has been reporting modest revenue growth with increases for several years now, but the large destination resorts on-Strip have been shifting their business model with less and less share coming from gaming, and increasing what they get from non-gaming stuff like paying $800 to get wrapped in seaweed in a spa and suchlike.



Right, these guys got it all figured out, huh?
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Ahigh
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July 8th, 2014 at 7:48:35 AM permalink
Quote: djatc

Is the recession to blame for the cutbacks, or are we as a general population getting smarter about gambling?



It's my personal opinion that the public is getting smarter about gambling.
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Ibeatyouraces
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July 8th, 2014 at 7:51:16 AM permalink
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DUHHIIIIIIIII HEARD THAT!
Nareed
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July 8th, 2014 at 8:09:25 AM permalink
Quote: Ahigh

It's my personal opinion that the public is getting smarter about gambling.



My anecdotal observations suggest otherwise. Though I often found "my" Loose Deuces machine at the D taken by someone else.
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DrawingDead
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July 8th, 2014 at 8:15:01 AM permalink
I didn't say I liked the shift in where their revenue comes from, or was for it, or suggest it was a wonderful idea. Before giving more emphasis to non-gaming amenities they didn't ask me, oddly enough. But it is what has happened and continues to happen, as reported both in individual company investor reports and the market research tracking of the LVCVA.
Quote: Ahigh

Right, these guys got it all figured out, huh?

I'm not sure how you feel the brief summary of the obvious problems with Caesars capital structure relates to this as a reply quoting that post. Caesars is incompetently managed both at the corporate and property level in my opinion, while choking on a mountain of debt they can't possibly service to maturity, from a leveraged buyout of the company executed at the top of the market. They also have the least high-end mix of properties of the major Strip operators, and have been maintaining them poorly for quite a while now. They're obviously shifting assets around to prepare to screw their creditors when they default on their debt. On another sort of forum I've had a thread for several years which I titled "Caesars Death Watch."

And at the same time, a number of their major competitors in the Las Vegas market have also been doing reasonably well. Not spectacularly well in their Las Vegas properties compared to some other markets, but still improving for several years. Caesars not so much at all.
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JohnnyQ
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July 8th, 2014 at 7:40:14 PM permalink
As a certified low-roller, it seems to me like this might be the golden age for the consumer in the gambling biz. The evidence I cite to support that is the myVegas giveaways and the Cezaers TR room comps, and not just in Vegas. Hey hey.
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