{"id":24638,"date":"2019-08-06T07:58:02","date_gmt":"2019-08-06T15:58:02","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=24638"},"modified":"2019-08-06T07:58:02","modified_gmt":"2019-08-06T15:58:02","slug":"vegas-the-good-the-mediocre-and-the-moulin-rouge","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/vegas-the-good-the-mediocre-and-the-moulin-rouge\/","title":{"rendered":"Vegas: The good, the mediocre and the Moulin Rouge"},"content":{"rendered":"

First the good news (for the hospitality industry): Las Vegas<\/strong> hotel occupancy is over 89% and ADRs are\u00a0$135.23. The relatively bad news is that total visitation will yet again fall short<\/a> of 2016’s record numbers. The Las Vegas \"\"Review-Journal<\/em>‘s Richard Velotta<\/strong>\u00a0could find no better word for 2019 to date than “mediocre,” albeit a mediocrity founded upon 42 million projected visitors. Conventioneers, however, could take the front rank among Vegas pilgrims, on pace to surpass 2017’s 6.6 million. And although gaming win on the Las Vegas Strip<\/strong> hasn’t been what it used to be, other markets are compensating. Slot win, up 2.5% year to date, is carrying the Silver State, down only once in the last 10 months. Tourism boffins are already saying ‘Wait ’til next year,’ pinning their hopes on the Oakland Raiders<\/strong> and Resorts World Las Vegas<\/strong>‘ tantalizingly delayed debut.<\/p>\n

* Yet another attempt to reboot the Moulin Rouge<\/strong> site may be just a\u00a0mirage, and not the good, Steve Wynn<\/strong> kind.\u00a0Las Vegas Moulin Rouge LLC<\/strong> missed a deadline to place the purchase funds in escrow. The excuse\u2014”a \"\"lender changing the schedule of the wire transfer”\u2014sounds shaky. As the Las Vegas Review-Journal<\/em> reported<\/a>, every purchase offer on the site must be accompanied by proof of wherewithal. The prospective buyers, who tried to obtain the site two years ago, need to plunk down $9.5 million. That seems easy compared to building a $1.6 billion casino resort in a blighted part of Las Vegas. A previous revival effort died during the Great Recession<\/strong>, leaving investors on the hook for $19 million. What is it about the Moulin Rouge that lures developers to tempt doom?<\/p>\n

* Well, this is different. A casino-cum<\/em>-aquarium is being proposed<\/a> for the Waterpower District of Rockford<\/strong>, Illinois<\/strong>. Rock River West Casino Group<\/strong> is behind the proposal, one of two being pitched so far for Rockford. First up was a Hard Rock<\/strong>-branded project, which would certainly have some cachet. \u201cThe Aquarium together with this urban casino will play a vital role as an economic stimulus which will help the City of Rockford in its completion of the plan to develop downtown and South Main Street Corridor,\u201d said Rock River West proponent Victory Bell<\/strong>.\u00a0\u201cThe greatest concentration for underemployed and unemployed is on the west side, there is a willing and ready workforce within walking distance,” she continued, projecting as many as 1,200 jobs from the double-barreled attraction. While it would take at least two years to get a permanent casino up and running, Rockford may make a short cut and open a temporary casino later this year.<\/p>\n

* Hard times for Konami Holdings<\/strong>. Operating income for the game manufacturer fell 82%<\/a>. Blamed are the absence of orders for high-margin slots as well as higher costs for leased games. Fortune Cup<\/em>, Konami’s answer to Sigma Derby<\/em>, is being well received overseas and sales of “Concerto” cabinet slots were another saving grace.<\/p>\n","protected":false},"excerpt":{"rendered":"

First the good news (for the hospitality industry): Las Vegas hotel occupancy is over 89% and ADRs are\u00a0$135.23. The relatively bad news is that total visitation will yet again fall short of 2016’s record numbers. The Las Vegas Review-Journal‘s Richard … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[98,120,58,272,255,210,9,19],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24638"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=24638"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24638\/revisions"}],"predecessor-version":[{"id":24639,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24638\/revisions\/24639"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=24638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=24638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=24638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}