kewlj
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June 22nd, 2020 at 3:55:37 PM permalink
When casinos opened in Las Vegas on June 4th, Stations did not open 4 of it's casinos, Texas Station, Palms, Fiesta Rancho, Fiesta Henderson.

The rumor is that Boyd is buying Fiesta Rancho and Fiesta Henderson and that the owners of Dotty's parlors are buying Texas Station. with Palms currently on the market.
DRich
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June 22nd, 2020 at 4:03:49 PM permalink
Quote: kewlj

When casinos opened in Las Vegas on June 4th, Stations did not open 4 of it's casinos, Texas Station, Palms, Fiesta Rancho, Fiesta Henderson.

The rumor is that Boyd is buying Fiesta Rancho and Fiesta Henderson and that the owners of Dotty's parlors are buying Texas Station. with Palms currently on the market.



I have been wondering if Eastside Cannery is going to reopen soon or be sold.
At my age, a "Life In Prison" sentence is not much of a deterrent.
Vegasrider
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June 22nd, 2020 at 4:21:01 PM permalink
I would invest in the Rampart before putting money into all those dumps, which are not in the best part of town. Exception The Palms.
kewlj
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SanchoPanza
June 22nd, 2020 at 4:23:30 PM permalink
Quote: DRich

I have been wondering if Eastside Cannery is going to reopen soon or be sold.



Have you been to Eastside Cannery in the last year prior to the shutdown? That place has zero regular customers anymore. Used to be one of my favorite little local casinos. Boyd completely gutted and destroyed it. So not surprising they don't know what to do with it.
DRich
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June 22nd, 2020 at 8:07:46 PM permalink
Quote: kewlj

Have you been to Eastside Cannery in the last year prior to the shutdown? That place has zero regular customers anymore. Used to be one of my favorite little local casinos. Boyd completely gutted and destroyed it. So not surprising they don't know what to do with it.



That is why i assumed they would sell it.
At my age, a "Life In Prison" sentence is not much of a deterrent.
AlanMendelson
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June 22nd, 2020 at 8:14:33 PM permalink
I never understood why Stations (Red Rock Resorts) poured so much money into the Palms until I heard about the plan to build a baseball stadium where the Rio is.

Then it started to make sense about the long term investment RRR was making.

Sure, this Covid mess has eliminated all Vegas talk about everything except Covid, but I think a year from now when the world is sane again, Vegas baseball will come back to life.
DRich
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June 22nd, 2020 at 8:21:57 PM permalink
Quote: AlanMendelson

I never understood why Stations (Red Rock Resorts) poured so much money into the Palms until I heard about the plan to build a baseball stadium where the Rio is.

Then it started to make sense about the long term investment RRR was making.

Sure, this Covid mess has eliminated all Vegas talk about everything except Covid, but I think a year from now when the world is sane again, Vegas baseball will come back to life.



I honestly think Vegas would be a lousy baseball city. 81 games is a lot more than the city would support.
At my age, a "Life In Prison" sentence is not much of a deterrent.
AlanMendelson
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June 22nd, 2020 at 8:40:34 PM permalink
The city isn't supporting the Raiders either. The visitors are.
kewlj
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June 22nd, 2020 at 8:44:03 PM permalink
Quote: DRich

I honestly think Vegas would be a lousy baseball city. 81 games is a lot more than the city would support.



To be honest, I thought the same thing about hockey.

For one, politically incorrect as it may be, I figured Latinos, of which Las Vegas has a large population aren't into hockey. Seemed like the same situation as Phoenix, a large Latino population translating into near bottom NHL hockey attendance most years.

Although I won't be a Raiders fan, I have no doubt Vegas can support an NFL team. People will come from California for 8 games, plus visiting team's fans will plan road trips around a game in Vegas. It was actually that way in Phoenix for years with the Cardinals. They would have sell outs when the Cowboys or Green Bay, or Chicago or other teams that travel well, but half the stadium was the other teams fans.

Baseball?? 81 games in summer with 100+ degree temps? Again, The Diamondbacks are probably a good measuring stick. How do they draw year in and year out with 81 baseball games? And while Phoenix is compatible with climate and things, they are a much bigger city/Metro area with many more people to draw from.
AlanMendelson
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June 22nd, 2020 at 11:40:39 PM permalink
Arizona is an excellent example. Vegas will also have a climate controlled ballpark.


https://en.m.wikipedia.org/wiki/Chase_Field
DRich
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June 23rd, 2020 at 8:24:38 AM permalink
My thought about baseball is that the demographic is older probably 45yo to 70yo. I assume there are many fewer people in Las Vegas of that age that grew up in Las Vegas compared to other cities. That will hurt the team in the first few years as that demographic already has a different team as their favorite,
At my age, a "Life In Prison" sentence is not much of a deterrent.
AlanMendelson
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June 23rd, 2020 at 8:26:25 AM permalink
Quote: DRich

My thought about baseball is that the demographic is older probably 45yo to 70yo. I assume there are many fewer people in Las Vegas of that age that grew up in Las Vegas compared to other cities. That will hurt the team in the first few years as that demographic already has a different team as their favorite,



That's the same age demographic for casino visitors.
TDVegas
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June 23rd, 2020 at 8:27:49 AM permalink
Quote: AlanMendelson

I never understood why Stations (Red Rock Resorts) poured so much money into the Palms until I heard about the plan to build a baseball stadium where the Rio is.

Then it started to make sense about the long term investment RRR was making.

Sure, this Covid mess has eliminated all Vegas talk about everything except Covid, but I think a year from now when the world is sane again, Vegas baseball will come back to life.


The baseball stadium on the Rio property was an unfounded rumor. I doubt stations pumped $1 billion into the Palms for that reason. They simply miscalculated. That area has been going downhill for years. No way did it deserve a $1 billion resort. Their customers were dining on McDonalds after going to the club.

If Frank and Lorenzo got out of their limo for a few seconds and walked the area....they would have known it didn’t warrant a $1 billion investment. It probably should have been an Orleans type investment. They blew it. Property will never recoup investment.
AlanMendelson
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June 23rd, 2020 at 10:03:53 AM permalink
Quote: TDVegas


If Frank and Lorenzo got out of their limo for a few seconds and walked the area....they would have known it didn’t warrant a $1 billion investment.



You don't think they got of their limo? You don't think they are getting info about a new MLB team?
billryan
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June 23rd, 2020 at 10:29:55 AM permalink
I was a season stockholder when the 51s played at Cashman Field when they drew flies. Only fireworks would bring out crowds close to 10,000.
Then they moved to the new stadium and despite tickets skyrocketing, attendance more than doubled.
Three years ago, I'd have said Vegas could not handle a MLB team, but now I'm not sure.
They won't get 40,000 on a weekday but few teams do.
My concern would be tv ratings. I'm not sure how big the television market is.

With that said, pumping a billion dollars into the Palms on speculation that a non existent ballpark might attract a team to the neighborhood seems pretty foolish.
The difference between fiction and reality is that fiction is supposed to make sense.
billryan
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June 23rd, 2020 at 10:41:25 AM permalink
Quote: TDVegas

The baseball stadium on the Rio property was an unfounded rumor. I doubt stations pumped $1 billion into the Palms for that reason. They simply miscalculated. That area has been going downhill for years. No way did it deserve a $1 billion resort. Their customers were dining on McDonalds after going to the club.

If Frank and Lorenzo got out of their limo for a few seconds and walked the area....they would have known it didn’t warrant a $1 billion investment. It probably should have been an Orleans type investment. They blew it. Property will never recoup investment.



Neighborhoods change. A decade ago, the area between the Strat and Downtown was blighted. Now you have The Arts District, and Fremont East. Buildings on Ogden that were under $100,000 in 2007 are pushing a million.
Real money in real estate isn't made by investing in good neighborhoods, it's made by investing in distressed neighborhoods and improving them.
Their track record is pretty impressive. I wouldn't bet against them.
The difference between fiction and reality is that fiction is supposed to make sense.
speedycrap
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June 23rd, 2020 at 2:09:24 PM permalink
Quote: kewlj

Have you been to Eastside Cannery in the last year prior to the shutdown? That place has zero regular customers anymore. Used to be one of my favorite little local casinos. Boyd completely gutted and destroyed it. So not surprising they don't know what to do with it.

I have never been to East Cannery. But I went to Gold Coast 2-3 times a week. By looking at Gold Coast, I could imagine the situation of East Cannery.
IndyJeffrey
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June 23rd, 2020 at 7:34:47 PM permalink
Quote: kewlj

Have you been to Eastside Cannery in the last year prior to the shutdown? That place has zero regular customers anymore. Used to be one of my favorite little local casinos. Boyd completely gutted and destroyed it. So not surprising they don't know what to do with it.



What is the "best" locals casino? Are any worth checking out for out-of-town visitors?
TDVegas
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June 24th, 2020 at 12:45:51 AM permalink
Quote: billryan

Neighborhoods change. A decade ago, the area between the Strat and Downtown was blighted. Now you have The Arts District, and Fremont East. Buildings on Ogden that were under $100,000 in 2007 are pushing a million.
Real money in real estate isn't made by investing in good neighborhoods, it's made by investing in distressed neighborhoods and improving them.
Their track record is pretty impressive. I wouldn't bet against them.


Track record impressive? Uh, they ran up HUGE debt and then ran the company thru bankruptcy. The only reason they are running this company today is a “sympathetic” bankruptcy judge let them cross off $4 billion of $6 billion in debt AND retain control. Now they are also sitting on another $1 billion property that was bleeding money since it opened...and is now closed indefinitely.

They are lucky they still have control. Dana White helped them there.
billryan
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June 24th, 2020 at 7:29:36 AM permalink
Quote: TDVegas

Track record impressive? Uh, they ran up HUGE debt and then ran the company thru bankruptcy. The only reason they are running this company today is a “sympathetic” bankruptcy judge let them cross off $4 billion of $6 billion in debt AND retain control. Now they are also sitting on another $1 billion property that was bleeding money since it opened...and is now closed indefinitely.

They are lucky they still have control. Dana White helped them there.





Yes, they owe their success to Dana White. That's the ticket. I wasn't aware White had anything to do with Landrys or the Houston Rockets.
The difference between fiction and reality is that fiction is supposed to make sense.
TDVegas
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June 24th, 2020 at 7:41:36 AM permalink
Quote: billryan

Yes, they owe their success to Dana White. That's the ticket. I wasn't aware White had anything to do with Landrys or the Houston Rockets.


That’s Tillman Fertitta. He has nothing to do with Frank and Lorenzo Fertitta running Station Casinos. I believe they are 2nd cousins. Tillman is self made and was peeling shrimp early on. Frank and Lorenzo walked into a successful casino company.
billryan
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June 24th, 2020 at 8:41:42 AM permalink
Didn't they buy the UFC for about two million dollars and sell it for four BILLION?
The difference between fiction and reality is that fiction is supposed to make sense.
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