Is Vegas Strip overbuilt?

CharlieMaxwell · May 7, 2004

Gaming experts used to worry about the viability of building new casinos. Would there be enough demand to meet the supply? Could new casinos turn a profit without cannibalizing older joints?

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Charlie

WildBill · May 7, 2004

The Las Vegas Strip is like the tech industry, it booms and busts (although not as bad as tech does) and then regenerates itself. Definitely the new properties will steal a lot of business from the lesser places, but they will either settle for just generating modest cash flow while their real estate gains value or they will sell out or redevelop into the latest attraction. Creative destruction will very much be alive in Vegas the next 10-20 years. The latest craze is building ridiculously priced condos around the Strip and those residents will be good customers of the high-end casinos and restaurants for years to come.

Dante · May 7, 2004

I think it needs a few more past mandalay bay... there is a TON of area there

WildBill · May 7, 2004

Can't build anything down there Dante, it is restricted airport flight path so the building limits are like 30 feet I think it is. The area across from Mandalay is really the last piece of the puzzle until you get down further on LV Blvd where tourists generally don't go.

Dante · May 7, 2004

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by WildBill:
Can't build anything down there Dante, it is restricted airport flight path so the building limits are like 30 feet I think it is. The area across from Mandalay is really the last piece of the puzzle until you get down further on LV Blvd where tourists generally don't go.<HR></BLOCKQUOTE>

did not know that....thanks WB

winkyduck · May 7, 2004

fezzik hit the nail on the head here.

i am sending this from my sister's place about 1-2 miles from the suncoast that fezzik is talking about. i have been there - and stayed therer - several times since sis lives so close.

it is a very nice place to stay. the rooms are clean and nice. the cocktail waitresses are VERY underrated and unlike the strip (which i spent some time sitting in traffic earlier today) - there is minimal traffic and easy to get to off the 215 or 95.

i am happy our party in august is downtown for i can just imagine the strip that time of year. why do you think cops patrol the area on bikes - not cars? because on cars they have NO CHANCE of catching anyone and would sit on the las vegas blvd. "parking lot" forever (DO NOT even think of driving on the strip fri/sat nights after about 5P)

Fezzik · May 7, 2004

I really like the Green Valley Ranch, and the Rampart Marriott, and Palms/Rio. They all seem to want my business and treat me right.

Then (ugh) the Strip. Hostile dealers who complain if you tip them silver. Decrepit cocktail waitresses that look ready to retire. Service people who appear to be running a 4 corners stall offense. People EVERYWHERE on the street dressed to not impress. Weird looking guys handing out pix of naked women. No parking. Long lines for often overpriced food. Long lines to check in. Long walks through the casino to get to a long walk to a small expensive room.

It shocks me the repeat business is so strong here.