luxor and mirage implosion | Las Vegas Advisor

I've heard rumors that the Luxor, Excalibur, and possibly Circus Circus might be torn down and replaced with new hotel-casinos. Any truth to those rumors?

No truth, at least of which we've ever been made aware.

However, this rumor, especially about Excalibur and Luxor, refuses to die. We don't know where it comes from or why it continues to circulate, but we get this question frequently; we last answered it less than six months ago.

Not only have we never heard a peep out of MGM Resorts that it intends to replace Luxor and Excalibur, but the company actually has a tentative plan for Excalibur's surplus land, currently occupied by surface parking. Earlier this year, just days after MGM CEO Bill Hornbuckle said, “We have enough Las Vegas,” he was contradicted by CFO Jonathan Halkyard, who outlined a possible new hotel tower on the South Strip, one that would go in front of where Excalibur currently sits.

“That’s our neighborhood,” Halkyard told investors. “The reality is — and not many people appreciate this — that there’s a substantial opportunity for our company to do additional development in that area.” Specifically, he added, “There’re seven acres in front of the Excalibur. That’s equal to the entire footprint of The Cosmopolitan. I’m not suggesting we’re going to build a 3,000-room tower there, but that’s a significant development opportunity potentially.”

MRI has clearly done the arithmetic. As the closest Strip hotelier to Allegiant Stadium, the company stands to benefit from having as much room inventory on tap for the Super Bowl, and all the major events to be held there in the future, as possible. Currently, among Mandalay Bay, Luxor, and Excalibur, rooms add up to nearly 12,000, not including Four Seasons. For MRI to even consider eliminating thousands of those contradict every impulse a major corporation has when it comes to short-term "increasing shareholder value," to say nothing of the lip service it pays to "enhancing the guest experience."

Meanwhile, Circus Circus is a huge cash cow for Phil Ruffin, who's owned it for only 2-1/2 years, after MRI unloaded it in December 2019 for $825 million. Eventually, given Circus' vast property (102 acres, half of which aren't developed), the old joint could make way for something new, though we doubt it will be in Phil Ruffin's lifetime; he's currently 87.

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Dave_Miller_DJTB May-23-2022

Luxor

But doesn’t Luxor have questionable structural integrity?

Like it may merely collapse in upon itself someday. Or at least that’s the rumor…

[email protected] May-23-2022

More Luxor

Shortly after Luxor was opened I watched a documentary about its construction where they said it was planned to last 10 years and then be replaced.  Was there any truth to that planned obsolescence? It's now going on 30 years so clearly that deadline, if true, has long since been passed.

Randall Ward May-23-2022

demolition

I've heard rumors for years but can't see it, demo cost plus 2 years at least of lost revenue?

Luis May-23-2022

Don't Think so....

These Hotel casino Complexes are big revenue spaces, far more that their parent companies care to tell us, even when they often get frowned upon, they are fun and they have, almost always, better attendance, than you might think, there is no reason to replace them, there is reason to re-furnish and re-furbish them, it's far more cost effective, and of course what other places are there for "families"other than off strip places.

Kevin Lewis May-23-2022

The Pepto Bismol Palace

Circus Circus Circus Circus should have been demolished the day it opened because of its obscene overpinkness. And that is so a word.

Breakeven May-23-2022

Water?

The real question: Is there enough water to sustain the growth?

[email protected] Jul-21-2022

Kyle Canyon Rd homes

What are the chances of Las Vegas home development in a much cooler climate near Kyle Canyon? Since housing development has already extended along Kyle Canyon Rd. Las Vegas could have not one, but two climates. It would be like unfortunately hot like the Sahara in the Las Vegas Valley, but also cool and green like the Amazon in or near Kyle Canyon. Just 9-15 miles away from Summerlin Pkwy, depending on which potential new route a road could be built. (I hiked 9 miles from Summerlin Pkwy to Kyle Canyon Rd and 9 miles back, to confirm a potential route). And some Las Vegas hotels, such as the Retreat are near Kyle Canyon. Perhaps no current opposition, if there even is any, can prevent the development? Perhaps the biggest issue would be the need for new waterlines, sewer lines, and the grid, including cable? Houses built in a cool climate IN the City would certainly sell. It would be a relief for Las Vegas residents to move to a cool climate WITHOUT moving out of the City.

[email protected] Jul-21-2022

Misunderstanding

Oh- Question of 23 May. I thought it was 'Question of the day's in general. Well, too bad I can't delete my question

Question of the Day - 23 May 2022

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