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Las Vegas go hard or go home thread


bigup2dahorns

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18 minutes ago, bigup2dahorns said:

 


 Rio is not in great shape. Been for sale for awhile and neglected by the owner.

 

 

15 minutes ago, RPM said:

 

Good to know. This is the info I'm looking for.

Timely.   Caesars has just abandoned Rio.  Allegedly it's up for sale, but if it leaves the Caesars ecosystem, then it will become a ghost town:

https://www.reviewjournal.com/business/casinos-gaming/after-30-years-rio-in-las-vegas-is-losing-its-status-and-shine-1660527/

 

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Nearly 30 years after the Rio opened, the red and blue jewel that helped catapult Las Vegas to a new level with its buffet and nightclub has lost its status along with its shine.

Once vying for high-rollers with top Strip properties like Caesars Palace and The Mirage, it now competes with 50-year-old Circus Circus for cost-conscious visitors, enticing them with suite deals before fees as low as $32 a night.

“The Rio needs a little TLC and it hasn’t gotten a dime’s worth,” said Rio founder Tony Marnell, who sold the Brazil-themed resort in 1999 to Harrah’s Entertainment, now known as Caesars Entertainment Corp.

By the end of next year, Caesars will have spent well more than $600 million since 2014 to upgrade nearly 90 percent of its 25,000 Las Vegas rooms. 

 

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But the Rio, Caesars’ only off-Strip property, is excluded from that reinvestment program, according to company presentations to investors.

The Rio has been rumored to be for sale for about a decade, and property owners generally halt new major reinvestments when they put a property up for sale.

Caesars representatives declined to comment on the Rio and its future, or provide any financial and renovation information for the property.

The Rio may be worth between $636 million and $836 million, according to a valuation of the property in 2017 by Moelis & Co., which Caesars hired to make the calculation. The replacement value — or cost to build a new 2,500-room hotel — would put the Rio in the same price range.

 

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However, analysts like Macquaire’s Chad Beynon said Caesars could struggle to get even the low end of that range due to the property’s extensive depreciation and the revenue it could lose when it ceases to be part of the world’s largest resort operator by number of properties, with more than 50.

Recent Las Vegas casino transactions have been below that range, though all properties have been smaller in size than the Rio.

Penn National paid $360 million in 2015 to buy the 1,500-room Tropicana on the Strip, while Station Casinos spent $312 million in 2016 to acquire the 1,364-room Palms across the street from the Rio. The room count includes 599 condominiums. The 1,500-room Hard Rock, another off-Strip property, sold for about $500 million last year.

 

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“Given Rio’s deferred upgrades, we believe a buyer would have to invest significantly to maintain or grow current cash flows and thus demand a lower price than estimated at the end of the bankruptcy years,” Beynon said.

Caesars emerged from bankruptcy in October 2017.

A basic renovation of a Strip room costs about $30,000, said Beynon. At that figure, Rio would need at least $75 million to upgrade its 2,500 rooms. The entire property, though, may need between $200 million and $250 million of investments, he said.

Marnell said the investment needed may be even higher than that.

“You are going to have to spend $300 million, probably, to make it competitive to the market that you have to play to,” the architect said.

 

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Caesars has been able to fill up the Rio thanks to its database of 55 million clients around the world as well as its ownership of the World Series of Poker.

Treasure Island owner Phil Ruffin, who looked at buying the Rio “many years ago,” said Caesars’ client database is “very, very strong” and the Rio’s cash flow can drop if it no longer has access to it.

“It would be hard unless you can cut a deal with them to keep their rewards program. That would be the problem with buying a Caesars property,” Ruffin said.

The World Series of Poker’s annual tournament runs for seven weeks from late May to July at the Rio. It attracts over 200,000 participants, lifting Rio’s room rates higher during an otherwise-slow period for Las Vegas.

Should it sell the Rio, Caesars could move the World Series of Poker to one of its Strip resorts, which would degrade the property’s cash flow and price even more, said Barry Jonas, an analyst at SunTrust Robinson Humphrey.

 

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I forgot about this but if you like drinking quality cocktails/liquor definitely go get a dining pass card from the Tix4Tonight people. If you're buying show tickets from them they will throw it in as a comp if you ask, or otherwise it's $10 a person. It gets discounts at a lot of places but the main one is at Davidoff Cigar Bar located in the fashion mall right next to the pedestrian bridge that crosses from Wynn to fashion mall. The card gets you 50% off all specialty cocktails and all menu items $18 and under. Excellent drinks and a nice open air patio area at night. 

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On 5/14/2019 at 12:19 PM, RPM said:

That's what I was trying to do asking the pros here.

Summer in Vegas is a tournament poker player's wet dream. There are tourney series running at:

Rio: WSOP. Bracelet events can be spendy, but their daily 1PM $250 usually gets over 1000 runners, and pays mid-5 figures to first place.

Venetian: DeepStack Extravaganza. Couple tourneys a day, usually one in the $400-1100 range early and $300-600 nightly. 

Planet Hollywood: Phamous Poker Series. Lower buyins than WSOP & Venetian and a more casual atmosphere. Some bad dealers here, especially if you play a non-holdem game.

Aria: Daily tourneys in the $400-500 range, and a nightly $240 at 7pm that is a great great nightly tournament. 

Orleans - Cheaper holdem tourneys, and the place to be to play games like Omaha or Stud Hi Lo.

Golden Nugget - Similar flavor to Orleans, cheaper NL holdem tourneys, and some good mixed games, excellent spot to hit if you stay at the Nugget or the D.

Binion's - Historic, but small fields and shoddy organization last year. Probably off my list.


If you have the dates you want, I can give you some specific tourneys that are in those windows.

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LVRJ:

Smith & Wollensky’s new Las Vegas location officially opened at the Grand Canal Shoppes at The Venetian on Wednesday evening with a rib-cutting ceremony in lieu of a ribbon-cutting. The event followed a May 10 soft opening attended by rocker Jon Bon Jovi.

The company’s original Las Vegas restaurant, near the other end of the Strip, was a standalone green-and-white landmark for 18 years until closing in May 2017. At the time, company CEO Michael Feighery expressed a desire for a location at a casino. The new spot replaces the Italian restaurant Zefferino, which had opened with The Venetian in 1999, and overlooks the resort’s canal.

Smith & Wollensky is about 15,000 square feet and seats 320 in the upstairs dining room and about 100 in the downstairs lounge. It also has three private dining rooms.

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Damn it. Rooms are no problem but the flights are fubar. Either leave at midnight on a crap airline, take a 6 hour layover or pay a lot extra on the package each way. This is why I usually drive out, but I don't have the time this year. 

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I just got back about three hours ago. I wasn’t there for work or pleasure. Mom was hospitalized Monday night at my father’s client dinner (She’s doing a lot better now). I tried Gordon Ramsey’s burger place at Planet Hollywood when I had a little downtime. Place was legit.
Another place I wandered into was Ellis Island Brewery. $5 Black Jack tables, and great beers.
I do agree with flights. Fly in and out at fucking midnight.

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Heads up for some Strip concessions, they have moved to dynamic pricing. No prices listed. When you pop in to the little store at MGM Grand to grab a snickers and a bottle of water at 3 am, you could be in for some sticker shock.

Also now there are many Walgreens and CVS etc on the Strip open 24/7 for such items.

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40 minutes ago, bigup2dahorns said:

Heads up for some Strip concessions, they have moved to dynamic pricing. No prices listed. When you pop in to the little store at MGM Grand to grab a snickers and a bottle of water at 3 am, you could be in for some sticker shock.

Also now there are many Walgreens and CVS etc on the Strip open 24/7 for such items.

Not really surprised, but damn.

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Booked 5 nights at 4 Queens starting 8/29. Airfare cost more than the room, but at least it's nonstop on American. First time staying downtown, but I'm gonna take @TXSooner518 advice about their poker tourney. I think everybody needs to stay OG Vegas at least once.

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On 5/24/2019 at 11:18 PM, RPM said:

Damn it. Rooms are no problem but the flights are fubar. Either leave at midnight on a crap airline, take a 6 hour layover or pay a lot extra on the package each way. This is why I usually drive out, but I don't have the time this year. 

where you flying out of? 

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As someone born in the Detroit suburbs and living in the Detroit suburbs outside of college and a stint in Austin, I do not understand the D. A Detroit themed casino? Why would that appeal to anyone? I like Detroit but it sort of has a negative connotation to most non natives. Is it a decent place? Can you get a Lafayette Coney dog or a Buddy's/Via 313 style pizza? 

I kind of want to go back to LV, it's been damn near a decade. Kids man.

Edited by Baboontyme
Day drinking
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17 hours ago, RPM said:

Booked 5 nights at 4 Queens starting 8/29. Airfare cost more than the room, but at least it's nonstop on American. First time staying downtown, but I'm gonna take @TXSooner518 advice about their poker tourney. I think everybody needs to stay OG Vegas at least once.

Check out Hugo's Cellar (steakhouse in the 4 Queens)

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9 hours ago, Baboontyme said:

As someone born in the Detroit suburbs and living in the Detroit suburbs outside of college and a stint in Austin, I do not understand the D. A Detroit themed casino? Why would that appeal to anyone? I like Detroit but it sort of has a negative connotation to most non natives. Is it a decent place? Can you get a Lafayette Coney dog or a Buddy's/Via 313 style pizza? 

I kind of want to go back to LV, it's been damn near a decade. Kids man.

I know the brothers are from Detroit, but it isn't Detroit themed. There is some kind of coney dog place, but mostly it is hot bitches dealing wearing next to nothing with decent rooms for basically nothing. 

I dig it. Its a cool spot. 

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5 hours ago, HornPhD said:

Check out Hugo's Cellar (steakhouse in the 4 Queens)

Will do. Gonna slam Lotus of Siam Friday night. There used to be a cheap shrimp cocktail around 4Q too. Going full Homer on that. I may not shit right for a week.

Edited by RPM
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8 hours ago, RPM said:

Will do. Gonna slam Lotus of Siam Friday night. There used to be a cheap shrimp cocktail around 4Q too. Going full Homer on that. I may not shit right for a week.

My wife and I were at the new Lotus of Siam location a couple of weeks ago. Didn't have a reservation; however, there was seating available in the bar area. 

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It’s snowing nearby:

The weather service has issued a winter weather advisory for Mount Charleston that will remain in effect until 11 a.m. Monday. About 2-5 inches of snow are expected, and residential areas like Lee and Kyle canyons are likely to see snow snowfall, the weather service said.

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7 hours ago, bigup2dahorns said:

It’s snowing nearby:

The weather service has issued a winter weather advisory for Mount Charleston that will remain in effect until 11 a.m. Monday. About 2-5 inches of snow are expected, and residential areas like Lee and Kyle canyons are likely to see snow snowfall, the weather service said.

That's not the kind of Vegas snow I'm interested in. Needs hookers.

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3 hours ago, ChiTownDoc said:

One of the worst things in life is having your flight out of Vegas cancelled.  FML

I’ll see your “flight out of Vegas cancelled” and raise you a “came down with the flu in Vegas, all flights home were booked, decided to go to the airport first thing in the morning to catch something standby, then waiting all day at the airport with the flu when I could have stayed in bed at the Wynn until I needed to go to the airport but all I wanted to do was get home, only to end up getting on the flight I’d originally booked”.  That, my friend, is FML.

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1 hour ago, Landomatic said:

I’ll see your “flight out of Vegas cancelled” and raise you a “came down with the flu in Vegas, all flights home were booked, decided to go to the airport first thing in the morning to catch something standby, then waiting all day at the airport with the flu when I could have stayed in bed at the Wynn until I needed to go to the airport but all I wanted to do was get home, only to end up getting on the flight I’d originally booked”.  That, my friend, is FML.

Shit.  I’m so brain dead.  Gonna try this delta 1130 coach.  23 min to make connection in Detroit.  Land 8am ORD

Or keep my business class and fly out 6am.  3 hr layover in SF.  Land in Chicago at 5pm

Not sure what’s worse but at this point get me the fuck out of here.  Getting stuck in Detroit sounds awesome.  

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5 hours ago, ChiTownDoc said:

Shit.  I’m so brain dead.  Gonna try this delta 1130 coach.  23 min to make connection in Detroit.  Land 8am ORD

Or keep my business class and fly out 6am.  3 hr layover in SF.  Land in Chicago at 5pm

Not sure what’s worse but at this point get me the fuck out of here.  Getting stuck in Detroit sounds awesome.  

Yeah, I would have opted the Detroit route too.  Hope you made it.  Good luck, man.

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On 5/27/2019 at 1:24 AM, RPM said:

Will do. Gonna slam Lotus of Siam Friday night. There used to be a cheap shrimp cocktail around 4Q too. Going full Homer on that. I may not shit right for a week.

Is Lotus of Siam better than Le Thai?

That's what I need to know.

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18 hours ago, ChiTownDoc said:

One of the worst things in life is having your flight out of Vegas cancelled.  FML

csb warning. 2 years ago, I was the last person in my Vegas travel group to leave from a long weekend there.  I was down about 3K for the trip.  The last United LAS-IAH trip for the day was cancelled. something like 3 or 4pm. The brake system on the plane was shot.  They claimed that basically the brake drums wouldn't disengage from the wheel. Perhaps that was a layman's description that the pilot could easily explain. No idea.

United put everyone up for the night and on a new flight the next day.  Instead of staying at whatever hotel United would stick all of us, I called Delano and asked for a comped 1-night stay. They agreed.  Went on a hot streak at the craps table early the next morning and won 5K for that session, netting a 2K gain for the trip.  

I was ok with the flight cancellation.

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8 hours ago, Landomatic said:

Yeah, I would have opted the Detroit route too.  Hope you made it.  Good luck, man.

Made it.  Thanks.  Was upgraded to first too.  Hardest part was waking up after that first leg.  Connection was tight but we landed early.  I wish Delta had more operations out of Chicago.  I’m really starting to like them.  

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Highly recommend the book Blood Aces. Now being made into a movie . . .

Deadline:

EXCLUSIVE: The life of Benny Binion, the cowboy, gangster, killer who created the World Series of Poker, is being turned into a scripted series after Argo producer Tim Headington’s company Ley Line optioned the rights to a biography about him.

The production company and financier, which Headington launched with former music industry exec Theresa Steele Page last year, optioned Doug J. Swanson’s book Blood Aces: The Wild Ride of Benny Binion.

Blood Aces had previously been set up for a feature film remake by Relativity in 2015 with Cliff Dorfman set to write the movie before the company went into administration.

Blood Aces, which was published by Penguin Random House in 2015, tells the true story of Binion, who emerged as a founding father of modern Las Vegas. He was a racketeer, a family man, a killer, a philanthropist, a friend to the downtrodden and an enemy to be feared. His rise to power, and his ability to stay there, is unmatched in the American underworld. Though he could barely read or write, Binion used native intelligence, personal charm and innate ruthlessness to build a gambling kingdom. After a bloody criminal career in Depression-era Dallas, he left Texas one step ahead of the sheriff. With a million dollars in cash and a couple of machine guns in the trunk of his Cadillac, Binion headed for Vegas.

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5 hours ago, bigup2dahorns said:

Highly recommend the book Blood Aces. Now being made into a movie . . .

Deadline:

EXCLUSIVE: The life of Benny Binion, the cowboy, gangster, killer who created the World Series of Poker, is being turned into a scripted series after Argo producer Tim Headington’s company Ley Line optioned the rights to a biography about him.

The production company and financier, which Headington launched with former music industry exec Theresa Steele Page last year, optioned Doug J. Swanson’s book Blood Aces: The Wild Ride of Benny Binion.

Blood Aces had previously been set up for a feature film remake by Relativity in 2015 with Cliff Dorfman set to write the movie before the company went into administration.

Blood Aces, which was published by Penguin Random House in 2015, tells the true story of Binion, who emerged as a founding father of modern Las Vegas. He was a racketeer, a family man, a killer, a philanthropist, a friend to the downtrodden and an enemy to be feared. His rise to power, and his ability to stay there, is unmatched in the American underworld. Though he could barely read or write, Binion used native intelligence, personal charm and innate ruthlessness to build a gambling kingdom. After a bloody criminal career in Depression-era Dallas, he left Texas one step ahead of the sheriff. With a million dollars in cash and a couple of machine guns in the trunk of his Cadillac, Binion headed for Vegas.

Tim Headington is my next door neighbor...so, this hits close to home.

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Depends on what type of Italian you are looking for but I love Rao's.   That Veal Parm is a monster and excellent.  Bazarr meat is my favorite "meat" restaurant (look at menu, more than just 'steak' but the steak is great).  For traditional steakhouse I prefer Cut and Jean George but all are pretty good.  I need to get to SW Steakhouse.  Probably only major one I haven't been to yet.

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4 hours ago, Tommy Nobis said:

Need recs on good Steak or Italian

Sinatra used to be my go to Italian.  In fact, it was the only place in Vegas I insisted on going to every time I went.  They slipped a little the last time I was there about a year ago though.

Carbone at Aria was awesome Italian last time I went.

SW used to be my favorite steakhouse but, they slipped too last time we went.  Whole property slipped pretty bad though after Steve Wynn left so I’m hopeful they got their kinks worked out.

Also really enjoyed Jean Georges steakhouse at Aria.

STK is always fun for more of a party scene.  But I wouldn’t call it all that great of a steakhouse.

Cut was one of the best meals I can remember but that was like 10 years ago so not sure if it holds up.

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Quick shout out to the Aria: a couple weeks ago I needed to take 24 people to dinner so I called their group dining and they set me up with a prix fixe menu with premium alcohol at Julian Serrano. An absolute avalanche of great food and booze, and I was able to keep the price under control. Good times.

Hit SUSHISAMBA the next night with a dozen folks and it was killer.

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