Question of the Day - 23 April 2025

The major change is the end of the Mohegan Sun's management of the casino. This was a joint venture of convenience: an opportunity for the Mohegan tribe to expand its gaming footprint into the Las Vegas market, while providing the gaming license for Virgin (part of Richard Branson’s Virgin Group), JC Hospitality (the property owner), and Hilton’s Curio Collection (running the hotel).

Mohegan began its exit late last year and the transition was completed at the end of 2024. Casino operations were taken over by Virgin's existing management. Specifically, Virgin's President Cliff Atkinson and CFO Chad Konrad formed a partnership called C&C 4455 LLC; they were licensed by state regulators and now run the joint.

Initially, Virgin was operated on a build-it-and-they-will come basis, targeting well-heeled out-of-towners in Mohegan's player database. That didn't work out too well, which is why Virgin has struggled since it opened in 2021. 

But since the transition to Virgin management's operating the casino, the emphasis has changed and the marketing is geared more toward locals. In his testimony to the Nevada Gaming Control Board and Gaming Commission during licensing hearings, Atkinson was playing both sides, touting Virgin's location as the closest upscale joint to the airport (to attract visitors) and its plans to market hard to locals. 

It's still a bit early to tell how all that's going, though by your question, it appears that Virgin has tightened up on its offers, at least those aimed at airport arrivals.

Meanwhile, the lead story in Anthony Curtis' Couponomy column in the current issue of the Las Vegas Advisor takes a look at the locals situation as well. "To be honest, I’m playing a bit fast and loose by including Virgin here, as they’ve still done very little to attract discerning video poker players [the locals market]," Anthony writes. "However, with the Mohegan group no longer running the casino, there’ve been some developments. Chief among them is the introduction of the new Cherry Rewards players club that appears to have some good components. Another twist is the addition of sports betting kiosks built into some of the slot machines. Not that this is particularly beneficial to the bottom line of sports bettors, but it shows that they’re trying new things over there."

So this is obviously a work in progress. How it all pans out remains to be seen. But Anthony makes the point that the Rio, a direct competitor of Virgin, "has gone full throttle" with its video poker offerings, plus a great new coupon for LVA members. Across the street, the Palms, another Virgin competitor, is making all kinds of moves to bring in Las Vegans (3-2 blackjack, upgraded VP paytables, even free cabanas for locals).

So from our perspective, at least, as well as yours, it looks like Virgin remains behind the curve.