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Big Changes Coming to the Iconic Las Vegas Strip

New casinos are only part of the equation as a lot of huge projects are coming with Caesars and MGM leading the way.

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New casinos are only part of the equation as a lot of huge projects are coming with Caesars and MGM leading the way.

The Las Vegas Strip never stops changing. Casinos change names and get demolished, and once-vacant plots of land become wondrous things. Las Vegas has always been a city steeped in nostalgia that's not actually nostalgic. The city loves its history, but it's willing to cast it aside if a better opportunity comes along.

Over the past two years, however, Las Vegas's most famous street -- one of the most famous streets in the world -- has seen unprecedented change. The biggest players, Caesars Entertainment (CZR) - Get Caesars Entertainment Inc Report and MGM Resorts International (MGM) - Get MGM Resorts International Report, have made huge moves, but they're not the only players entering, exiting, or changing their plans in this multibillion-dollar market.

It's a high-stakes game that's happening just after the city has dealt with the Covid pandemic. Las Vegas has managed through shutdowns, losing basically its entire convention business for more than a year, and it only recently got rid of its indoor mask mandate.

Now, the city has returned to something like normal as the impact of the pandemic fades. That has cleared the decks for massive changes.

Image source: Shutterstock

What Are Caesars and MGM Doing?

Caesars and MGM dominate the Las Vegas Strip but that does not mean either company has decided to rest on its laurels. Both companies have made, or are in the midst of making, major changes.

The biggest of those may be MGM paying $1.6 billion to acquire the Cosmopolitan. That deal was followed by the company selling the Mirage for just over $1 billion to Hard Rock International, which plans to build a guitar hotel on the property while keeping its current main hotel tower.

Essentially, MGM has traded the Mirage for the Cosmopolitan. Chief Executive Bill Hornbuckle talked about the deal during the company's third-quarter earnings call.

We announced an agreement to acquire the operations of the Cosmopolitan of Las Vegas, a high-quality resort with enviable product offerings, strong brand awareness and complementary customer base making it an ideal addition to our Las Vegas Strip portfolio. We also believe that the synergies we have identified are highly achievable...As such, we are currently in the early stages of a process to sell the operations of the Mirage. Doing so will allow us to maintain our existing Las Vegas exposure, while focusing on the complementary and diverse nature of our offerings in our hometown.

That deal, of course, has now been done and it will literally change the look of the Strip when the guitar hotel gets built.

Caesars hasn't done anything quite as bold as swapping one major casino property for another, but it is making a major change, the Las Vegas Review-Journal reported.

"Elsewhere on the Strip, Bally’s Corp., which somehow doesn’t own Bally’s and never did (that was the unrelated Bally Manufacturing), is in the process of acquiring the Tropicana, which it’s expected to call Bally’s. 

"That switch will be possible because the current Bally’s, which had been the MGM Grand — not to be confused with the current MGM Grand, parts of which used to be the Marina — is being renamed the Horseshoe," the paper explained.

Caesars owns the Horsehoe name and has used it outside Las Vegas. The name has a long history in the city, but it was used on a downtown hotel owned by Benny Binion, a legendary Vegas figure whose name still adorns a Fremont Street casino.

"Over the years, as the brand expanded to markets across the country, Horseshoe has stayed true to its heritage, holding on to the thrilling spirit of no-limit betting," Caesars said in a news release. "...In keeping with Horseshoe's classic sophistication, the design team will incorporate a handcrafted feeling with tooled leather, dramatic colors, and the brand's signature gold horseshoe iconography."

Caesars and MGM Are Not the Only Players

In addition to the moves being made by the Las Vegas Strip's biggest players, a number of other changes are coming or have been recently completed:

  • Fontainebleau Las Vegas: This project has been in some state of construction since the mid-2000s and it does now look ready to open by the end of 2023.
  • The Las Vegas Convention Center: The LVCC opened its $1 billion, 1.4-million-square-foot new hall in June.
  • Resorts World Las Vegas: The first fully new casino on the Strip in more than 10 years, Resorts World GEBHY cost $4.3 billion, but it managed to open in June despite the pandemic.
  • The Oakland Athletics are negotiating for a Major League Baseball stadium with at least four separate sites on or adjacent to The Strip.

In addition, construction continues on the MSG Sphere, "a globe-shaped, $1.8 billion Las Vegas entertainment and media venue being built by Madison Square Garden Entertainment Corp. and casino operator Las Vegas Sands Corp," U.S. News and World Report reported.

Madison Square Garden (MSGE) and Las Vegas Sands (LVS) - Get Las Vegas Sands Corp. Report are building that structure, which will be an immersive entertainment venue "behind the Venetian and Palazzo resorts and Sands Expo and Convention [Center. It] will be 366 feet (111.6 meters) tall — more than half the height of the Palazzo — and 516 feet (157.3 meters) wide at its widest point."

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Government

Mike Pompeo Doesn’t Rule Out Serving In 2nd Trump Administration

Mike Pompeo Doesn’t Rule Out Serving In 2nd Trump Administration

Authored by Jack Phillips via The Epoch Times (emphasis ours),

Former Secretary…

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Mike Pompeo Doesn't Rule Out Serving In 2nd Trump Administration

Authored by Jack Phillips via The Epoch Times (emphasis ours),

Former Secretary of State Mike Pompeo said in a new interview that he’s not ruling out accepting a White House position if former President Donald Trump is reelected in November.

“If I get a chance to serve and think that I can make a difference ... I’m almost certainly going to say yes to that opportunity to try and deliver on behalf of the American people,” he told Fox News, when asked during a interview if he would work for President Trump again.

I’m confident President Trump will be looking for people who will faithfully execute what it is he asked them to do,” Mr. Pompeo said during the interview, which aired on March 8. “I think as a president, you should always want that from everyone.”

Then-President Donald Trump (C), then- Secretary of State Mike Pompeo (L), and then-Vice President Mike Pence, take a question during the daily briefing on the novel coronavirus at the White House in Washington on April 8, 2020. (Mandel Ngan/AFP via Getty Images)

He said that as a former secretary of state, “I certainly wanted my team to do what I was asking them to do and was enormously frustrated when I found that I couldn’t get them to do that.”

Mr. Pompeo, a former U.S. representative from Kansas, served as Central Intelligence Agency (CIA) director in the Trump administration from 2017 to 2018 before he was secretary of state from 2018 to 2021. After he left office, there was speculation that he could mount a Republican presidential bid in 2024, but announced that he wouldn’t be running.

President Trump hasn’t publicly commented about Mr. Pompeo’s remarks.

In 2023, amid speculation that he would make a run for the White House, Mr. Pompeo took a swipe at his former boss, telling Fox News at the time that “the Trump administration spent $6 trillion more than it took in, adding to the deficit.”

“That’s never the right direction for the country,” he said.

In a public appearance last year, Mr. Pompeo also appeared to take a shot at the 45th president by criticizing “celebrity leaders” when urging GOP voters to choose ahead of the 2024 election.

2024 Race

Mr. Pompeo’s interview comes as the former president was named the “presumptive nominee” by the Republican National Committee (RNC) last week after his last major Republican challenger, former South Carolina Gov. Nikki Haley, dropped out of the 2024 race after failing to secure enough delegates. President Trump won 14 out of 15 states on Super Tuesday, with only Vermont—which notably has an open primary—going for Ms. Haley, who served as President Trump’s U.S. ambassador to the United Nations.

On March 8, the RNC held a meeting in Houston during which committee members voted in favor of President Trump’s nomination.

“Congratulations to President Donald J. Trump on his huge primary victory!” the organization said in a statement last week. “I’d also like to congratulate Nikki Haley for running a hard-fought campaign and becoming the first woman to win a Republican presidential contest.”

Earlier this year, the former president criticized the idea of being named the presumptive nominee after reports suggested that the RNC would do so before the Super Tuesday contests and while Ms. Haley was still in the race.

Also on March 8, the RNC voted to name Trump-endorsed officials to head the organization. Michael Whatley, a North Carolina Republican, was elected the party’s new national chairman in a vote in Houston, and Lara Trump, the former president’s daughter-in-law, was voted in as co-chair.

“The RNC is going to be the vanguard of a movement that will work tirelessly every single day to elect our nominee, Donald J. Trump, as the 47th President of the United States,” Mr. Whatley told RNC members in a speech after being elected, replacing former chair Ronna McDaniel. Ms. Trump is expected to focus largely on fundraising and media appearances.

President Trump hasn’t signaled whom he would appoint to various federal agencies if he’s reelected in November. He also hasn’t said who his pick for a running mate would be, but has offered several suggestions in recent interviews.

In various interviews, the former president has mentioned Sen. Tim Scott (R-S.C.), Texas Gov. Greg Abbott, Rep. Elise Stefanik (R-N.Y.), Vivek Ramaswamy, Florida Gov. Ron DeSantis, and South Dakota Gov. Kristi Noem, among others.

Tyler Durden Wed, 03/13/2024 - 17:00

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International

Riley Gaines Explains How Women’s Sports Are Rigged To Promote The Trans Agenda

Riley Gaines Explains How Women’s Sports Are Rigged To Promote The Trans Agenda

Is there a light forming when it comes to the long, dark and…

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Riley Gaines Explains How Women's Sports Are Rigged To Promote The Trans Agenda

Is there a light forming when it comes to the long, dark and bewildering tunnel of social justice cultism?  Global events have been so frenetic that many people might not remember, but only a couple years ago Big Tech companies and numerous governments were openly aligned in favor of mass censorship.  Not just to prevent the public from investigating the facts surrounding the pandemic farce, but to silence anyone questioning the validity of woke concepts like trans ideology. 

From 2020-2022 was the closest the west has come in a long time to a complete erasure of freedom of speech.  Even today there are still countries and Europe and places like Canada or Australia that are charging forward with draconian speech laws.  The phrase "radical speech" is starting to circulate within pro-censorship circles in reference to any platform where people are allowed to talk critically.  What is radical speech?  Basically, it's any discussion that runs contrary to the beliefs of the political left.

Open hatred of moderate or conservative ideals is perfectly acceptable, but don't ever shine a negative light on woke activism, or you might be a terrorist.

Riley Gaines has experienced this double standard first hand.  She was even assaulted and taken hostage at an event in 2023 at San Francisco State University when leftists protester tried to trap her in a room and demanded she "pay them to let her go."  Campus police allegedly witnessed the incident but charges were never filed and surveillance footage from the college was never released.  

It's probably the last thing a champion female swimmer ever expects, but her head-on collision with the trans movement and the institutional conspiracy to push it on the public forced her to become a counter-culture voice of reason rather than just an athlete.

For years the independent media argued that no matter how much we expose the insanity of men posing as women to compete and dominate women's sports, nothing will really change until the real female athletes speak up and fight back.  Riley Gaines and those like her represent that necessary rebellion and a desperately needed return to common sense and reason.

In a recent interview on the Joe Rogan Podcast, Gaines related some interesting information on the inner workings of the NCAA and the subversive schemes surrounding trans athletes.  Not only were women participants essentially strong-armed by colleges and officials into quietly going along with the program, there was also a concerted propaganda effort.  Competition ceremonies were rigged as vehicles for promoting trans athletes over everyone else. 

The bottom line?  The competitions didn't matter.  The real women and their achievements didn't matter.  The only thing that mattered to officials were the photo ops; dudes pretending to be chicks posing with awards for the gushing corporate media.  The agenda took precedence.

Lia Thomas, formerly known as William Thomas, was more than an activist invading female sports, he was also apparently a science project fostered and protected by the athletic establishment.  It's important to understand that the political left does not care about female athletes.  They do not care about women's sports.  They don't care about the integrity of the environments they co-opt.  Their only goal is to identify viable platforms with social impact and take control of them.  Women's sports are seen as a vehicle for public indoctrination, nothing more.

The reasons why they covet women's sports are varied, but a primary motive is the desire to assert the fallacy that men and women are "the same" psychologically as well as physically.  They want the deconstruction of biological sex and identity as nothing more than "social constructs" subject to personal preference.  If they can destroy what it means to be a man or a woman, they can destroy the very foundations of relationships, families and even procreation.  

For now it seems as though the trans agenda is hitting a wall with much of the public aware of it and less afraid to criticize it.  Social media companies might be able to silence some people, but they can't silence everyone.  However, there is still a significant threat as the movement continues to target children through the public education system and women's sports are not out of the woods yet.   

The ultimate solution is for women athletes around the world to organize and widely refuse to participate in any competitions in which biological men are allowed.  The only way to save women's sports is for women to be willing to end them, at least until institutions that put doctrine ahead of logic are made irrelevant.          

Tyler Durden Wed, 03/13/2024 - 17:20

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Part 1: Current State of the Housing Market; Overview for mid-March 2024

Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-March 2024
A brief excerpt: This 2-part overview for mid-March provides a snapshot of the current housing market.

I always like to star…

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Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-March 2024

A brief excerpt:
This 2-part overview for mid-March provides a snapshot of the current housing market.

I always like to start with inventory, since inventory usually tells the tale!
...
Here is a graph of new listing from Realtor.com’s February 2024 Monthly Housing Market Trends Report showing new listings were up 11.3% year-over-year in February. This is still well below pre-pandemic levels. From Realtor.com:

However, providing a boost to overall inventory, sellers turned out in higher numbers this February as newly listed homes were 11.3% above last year’s levels. This marked the fourth month of increasing listing activity after a 17-month streak of decline.
Note the seasonality for new listings. December and January are seasonally the weakest months of the year for new listings, followed by February and November. New listings will be up year-over-year in 2024, but we will have to wait for the March and April data to see how close new listings are to normal levels.

There are always people that need to sell due to the so-called 3 D’s: Death, Divorce, and Disease. Also, in certain times, some homeowners will need to sell due to unemployment or excessive debt (neither is much of an issue right now).

And there are homeowners who want to sell for a number of reasons: upsizing (more babies), downsizing, moving for a new job, or moving to a nicer home or location (move-up buyers). It is some of the “want to sell” group that has been locked in with the golden handcuffs over the last couple of years, since it is financially difficult to move when your current mortgage rate is around 3%, and your new mortgage rate will be in the 6 1/2% to 7% range.

But time is a factor for this “want to sell” group, and eventually some of them will take the plunge. That is probably why we are seeing more new listings now.
There is much more in the article.

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