- Las Vegas Rio Hotels to Rebrand
- Vegas Moves Towards Being Smoke-Free
- Resorts World Las Vegas Will Wait To See Profits
This week’s casino news is all Las Vegas-related. The Strip has been buzzing with tourists thanks to March Madness and spring break, but is this just a short bump or has Sin City been revived? Let’s take a look at the latest headlines.
Las Vegas Rio All-Suites Hotel & Casino Will Get Rebranded
The days of the Rio All-Suites Hotel & Casino are limited as Dreamscape Companies LLC have recently reached an agreement with the Hyatt Hotels Corporation to rebrand the property into the Hyatt Hotel.
The property opened in 1990 and is synonymous with the World Series of Poker, will now be getting renovated as well in order to turn it into multiple Hyatt hotel towers. While the announcement has been made, we still don’t have a timeline for when all of this will take place. More importantly, we haven’t heard if the Hyatt – which traditionally doesn’t delve into gambling a lot – will still have a gaming floor.
Although some poker fanatic might feel uncertain about the future of the WSOP, the truth is there had been some speculation that they might move it for quite some time now.
This will seemingly force their hand to find a new venue but a lot of players probably won’t mind as the Rio isn’t really on The Strip. In terms of the plan for this year, everything is still up in the air. Traditionally, the events are held in the spring and summer, but with COVID-19 still lingering, we don’t know what the plan will be. Last year’s tournaments were held online.
New Vegas Concepts Include Smoke-Free, Adults-Only
The hotels-resorts on the Las Vegas Strip continue to push the envelope and the latest trend appears to be smoke-free and adult-only venues. We know that some properties have been increasingly banning smoking, which has stemmed from the COVID-19 situation, and we also see some establishments becoming adults only.
When the Resorts World Las Vegas opens up on the Strip (supposedly during the summertime), they will be the third hotel-casino that has either completely banned or limited smoking.
The Park MGM was another property that has completely eliminated smoking from their property, shortly after the Cosmopolitan of Las Vegas did the same. More and more properties are following their lead on this because smokers can still pop outside while the vast majority of consumers are forced to inhale second-hand smoke just for hanging around.
As of right now there isn’t a statewide law to prevent smoking in casinos. We’ll see if any others decide to extend it full time.
Resorts World Las Vegas Isn’t Going To Be Profitable For Quite Some Time
Speaking of the new Resorts World Las Vegas, the casino is one of the most highly anticipated openings in quite some time. However, it doesn’t look like it will be profitable any time soon. It is expected to officially open during the second quarter/half of 2021 and the $4.3 billion property will be spectacular. They’ll have a massive gaming area, poker room, restaurants and a 3,500-room resort. However, the one thing they probably won’t have a lot of is tourists.
There have been predictions that estimate that the Resorts World will need a few years before they are profitable. This isn’t something that’s uncommon for high-end resorts but they will be slowed by the fact that COVID-19 has hampered travel.
Not only that, there are still safety precautions and restrictions in place and they still might be there when they full open up. Adding it all up, Resorts World is going to be in the red longer than anticipated.