Before the Great Recession, Las Vegas was the world’s most profitable gambling hub, a dream destination for high rollers, mass market players, and non-gambling tourists from all around the world. In 2007, the city reached its gambling revenue peak of $10.9 billion and visitor volumes were so high that they surprised even analysts and experts.
However, the city, as the rest of the US and the world, was hit by an unprecedented economic decline that weakened not just its casino and tourism industries, but its mere essence as the world’s gambling mecca, that one place where everything is possible.
Almost a decade later, Las Vegas is picking up the pieces, strengthening itself, trying to bring back its former glory. And visitor volume figures show that it may have taken the right path. Last year, the city attracted a record number of nearly 43 million visitors, beating even tourism officials’ forecasts. According to a report by the Las Vegas Convention and Visitors Authority (LVCVA), the aforementioned number reflected a 1.5% increase from 2015. It is also important to note that 2016 was the third consecutive year to see an increase in the number of tourists.
LVCVA figures for the first half of 2017 show a slight decrease from the corresponding period in 2016. There were nearly 21.2 million visitors to the city in the six months to June 30, 2017, down 0.8% year-on-year. Despite that drop, operators of some of Las Vegas’ most iconic casinos have announced multi-million-dollar renovation projects to boost the property’s popularity and make them more attractive to different generations of visitors and representatives of different demographic groups.
The Cosmopolitan of Las Vegas
The luxury casino resort first opened doors in December 2010. In June, owners announced a $100-million renovation project of its 2,895 rooms, starting with the ones located in the Boulevard Tower. That first phase of the project is expected to be completed by the end of the year.
Work on the Chelsea Tower, the second of two, is slated to begin in January 2018. The plan is to be fully materialized later next year. All rooms will be stripped to concrete and drywall and will be renovated in a manner that better reflects contemporary demand. Each of the rooms will be added iPads that guests will be able to use to order room service or other services.
Golden Gate Hotel & Casino
Originally launched back in 1906, the emblematic Downtown Las Vegas property should be entering the final stages of its latest renovation project. When construction work is completed, the casino at the complex will be twice larger than before. The property will also feature a new, “dramatic” entry way to the iconic Fremont Street, an extended outdoor bar, known by the name OneBar at One Fremont Street, and a number of other renovated and newly added facilities.
Paying a little more attention to the expanded casino floor, it should be said that it will see the addition of 100 new slot machines as well as of a 24-foot television tower with sets being arranged as if popping up from a fountain.
The soon-to-be-completed renovation project has been the second one at the casino for the past 50 years. In 2012, the resort launched a five-story hotel tower for its guests.
Palace Station
Station Casinos LLC has recently announced a $191-million investment into the renovation of the Palace Station hotel and casino property in Las Vegas. The complex first opened doors in July 1976.
Palace Station’s upgrade will include the addition of a new casino bar and a new dining facility as well as the renovation of the casino floor’s existing poker room and race and sports book facility. A $76-million price tag has been put to that particular renovation phase. Palace Station owners have also pointed out that it would come as an addition to an already completed $115-million expansion and renovation project that included a new bingo room, a new exterior facade, two new restaurants and improved parking options.
Monte Carlo Hotel & Casino
Gambling operator MGM Resorts International is currently in the middle of a $450-million renovation project at Monte Carlo, the large resort that has been part of the Las Vegas Strip since originally opened in 1996. Once the plan is fully realized, the property will be renamed as Park MGM and will, among other things, include NoMad hotel experience.
According to multiple media reports, there will not be much left from the original Monte Carlo, once the project is concluded next year. A plaza with kiosks and landscaping as well as a number of food and beverage options will be among the distinct features of Park MGM. The “market”, as said plaza is referred to in official documents, will actually represent the front section of the hotel and casino resort.
The existing hotel towers will have their facades partially demolished to be replaced with designs that would reflect the renovated exterior of the whole complex.
The casino floor will have three new bars, including a sports bar that will occupy more than 12,101 square feet. The amount of $3.9 million is expected to be spent on that particular facility alone.
