tag:blogger.com,1999:blog-8841356013250880291.post8321347660465590316..comments2024-03-15T17:03:45.018-07:00Comments on Las Vegas Blog: Steve Friess' VEGAS HAPPENS HERE: Lerner v. LaFleur: Analyst #CityCenter Smackdown!THE STRIP PODCASThttp://www.blogger.com/profile/03593322167326380577noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-8841356013250880291.post-45638382432085495722010-01-18T09:35:19.954-08:002010-01-18T09:35:19.954-08:00Dont just focus on MGM/City Center. All hotels are...Dont just focus on MGM/City Center. All hotels are dropping rates like crazy. I am in town for a trade show next week. Paying 39.00 a night plus some $9.00 a night resport fees at NYNY? Resort fee is a load of garbage. Why pay 150 a night at ARIA. ARIA offered $50.00 meal credit and some cashback also. By the way standard Bellagio rooms stink if anyone cares. Same room at Planet Holywood for a lower cost. I used to always try the new hotel but now I figure save a few hundred toward my expenses. There is no need.<br /><br />Got these email offers. No need to pay anything more. Wynn emailed me rates of approx 129 during the week with cashback. All ROOM rates will be under huge pressure for the entire 2010 if not more. The lesser places are also getting killed. They need to offer vouchers and real promos to entice customers. Over the past 10 years the only promos with the room would be 10% off at the cafe sun-thurs between the hours of 1AM-4AM with additional limits.robertw477https://www.blogger.com/profile/07002101375290117489noreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-80193227951843317612010-01-13T10:39:34.513-08:002010-01-13T10:39:34.513-08:00Mr. McKee & AccessVegas-
True, true. Perhaps ...Mr. McKee & AccessVegas-<br /><br />True, true. Perhaps Lerner is too cozy with MGM Mirage execs, and we probably won't have a clearer view of its future until we see Q4 '09 earnings. <br /><br />I guess I usually lean a little more Pollyanna-ish, and the overall good Vegas news now coming out is making me feel a little better these days about the overall casino industry here.atdnexthttps://www.blogger.com/profile/18339904136472258194noreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-6051458881596332632010-01-12T20:48:12.142-08:002010-01-12T20:48:12.142-08:00Eyeballing walk-through traffic is worthless. For ...Eyeballing walk-through traffic is worthless. For both Crystals and Aria Casino revenue, the lookyloos are worthless. Yes, most visitors are going to see CC because it is new. But are they spending?<br /><br />Those numbers will tell the tale.<br /><br />I'm hoping that MGM does well, but you won't catch me as a premature cheerleader.AccessVegas.comhttps://www.blogger.com/profile/10690960084492647250noreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-6489359259859872492010-01-12T15:16:23.259-08:002010-01-12T15:16:23.259-08:00Lerner's new firm has been retained on occasio...Lerner's new firm has been retained on occasion by MGM Mirage, which may color his views on the subject. Lerner was also the first to float the notion of a 30% cut in CityCenter condo prices, which MGM later adopted as its official stance.<br /><br />David McKeeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-76665949143935257262010-01-12T13:19:46.522-08:002010-01-12T13:19:46.522-08:00Well, Goldman Sachs just upgraded MGM Mirage's...Well, Goldman Sachs just upgraded MGM Mirage's stock to a "Buy" rating... So it seems Goldman is betting on Lerner's outlook.<br /><br />http://www.businessweek.com/ap/financialnews/D9D684081.htm<br /><br />Nevada casino winnings are also up, for the first time in 23 months.<br /><br />http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2010/01/12/financial/f072516S47.DTL&type=business<br /><br />So while LaFleur does have some solid data behind his pessimistic projections, it now seems like Lerner is starting to get some evidence to back up his bullish projections. And for all we know now, either may be true or the truth may fall somewhere between the two.atdnexthttps://www.blogger.com/profile/18339904136472258194noreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-45752536140999428162010-01-12T11:50:06.790-08:002010-01-12T11:50:06.790-08:00It is doing fairly well, but they are also nearly ...It is doing fairly well, but they are also nearly giving it away compared to where they wanted to be.<br /><br />It depends on where your expectations are. CityCenter will never be the $500-$800 a night fountain of excess drawing well-heeled with-it crowds who are here for fine art, haute couture, and avant garde entertainment that MGM sold it to us as. It can not be. But it will do well enough that MGM Mirage will keep their doors open. They have so much on their plates at their other hotels though that I wish they would sell another one to somebody without a CityCenter to sink money into.mike_chnoreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-3259720252570081542010-01-12T07:35:13.189-08:002010-01-12T07:35:13.189-08:00Believe RLF, they're starting to discount the ...Believe RLF, they're starting to discount the NCAA tournament weekends and the superbowl (that feb 6 date), plus is BL in Vegas and susceptible to being too close and RLF from out of state? Something to consider....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-30289607417719580942010-01-12T05:32:34.750-08:002010-01-12T05:32:34.750-08:00Steve, this is one of your most important posts. ...Steve, this is one of your most important posts. Excellent!<br /><br />Lerner has been the Strip's greatest cheerleader for years. It would be great if he would comment on your post and explain his "facts".detroit1051https://www.blogger.com/profile/07550633648425880676noreply@blogger.com