Big news of late regarding ownership of downtown hotels, new construction, and the revival of a legendary lady. I’m downtown a number of times a month and most nights anymore, it is packed. A significant group of Las Vegas visitors are rebelling against what they perceive as outrageous prices on The Strip for food and drink, and tight Strip slots.
Side Note: Let me note that our Nevada gaming control board does break down statistics from The Strip and downtown separately. Downtown slots ARE looser.
A couple of years ago the Golden Nugget Las Vegas opened another tower and despite the poor economy, they have had little problem filling it. Then The Plaza completely made-over their place and seem to be doing quite well.
So… the owners of the Golden Gate — ironically just across the street from The Plaza — then recently announced that they were building an additional 5 story addition on what is now their parking lot. At first I thought that was a pretty modest addition to a hotel that is doing very well via their sexy dealer party pit — which we have dubbed the boobie pit — until the next shoe dropped:
The owners of the Golden Gate announced that they are buying Fitgerald’s, which ironically has the tallest tower downtown. The owner of the Fitz died recently after a long illness and the Golden Gate people have stepped in to buy it. Of interest to some: They are going to take their second-floor casino area and theme it Vintage Vegas complete with old school slot machines that actually take coins. No word on any changes to their Vue bar in that area that overlooks Fremont Street, but we hope they don’t screw it up too much.
BTW, I will not confirm or deny that I was throwing beads off of that balcony a couple of years ago on Mardi Gras Fat Tuesday!
The new Fitzgerald’s owners also plan a hotel renovation from top to bottom including rooms.
We do know this for sure: They don’t have continuing rights to the name Fitgerald’s, so they are going to have to rename it within 6 months. Interestingly enough, This is the same boat the Las Vegas Hilton is in since their contract as a Hilton Hotel isn’t being renewed.
Finally, we have news on the Lady Luck. It shuttered years ago and yet I’m still asked about it on a regular basis by my readers. Work to re-open it is just about to commence, but with some major changes. Guess what? They aren’t going to have rights to the Lady Luck name (familiar theme here), and are changing the name of the property to The Downtown Grand. Since the MGM Grand is always simply called MGM, I’m assuming that this hotel will end up just being called The Grand by locals and visitors alike.
Also, they are gutting it down to and including plumbing and electrical and are rebuilding the property as an upscale property. What will be interesting to see here is if admittedly mid-market downtown can support three somewhat upscale hotels in the Nugget, Plaza, and Grand. One of the reasons The Strip fell flat on its face during the recession was that too many really expensive properties were built and there wasn’t enough upscale visitor demand.