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Classic Las Vegas Strip Icon Makes Way for Huge New Project

The pace along the Las Vegas Strip has picked up. The North Strip used to be a wasteland, but now it's become a hotbed. Fontainebleau Las Las has been delayed multiple times and is set to open in late 2023. Hawaiian Marketplace, an 80,000-square-foot shopping area, closed in July. It's not clear what's going to happen to the site.
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Classic Las Vegas Strip Icon Makes Way for Huge New Project

The 10 Best Hotels in Las Vegas

The World's Best Awards survey is conducted every year. Readers choose the hotels, resorts, cities, islands, cruise ships, spas, airlines and more. The winner is the Wynn Las Vegas, which is ranked No. 1. The other properties on the list are the Four Seasons, Aria, Vdara and Venetian. They are all located along the Las Vegas Strip. T+L readers also choose their favorite restaurants. It's estimated that non-gaming tourist dollars account for more than 50 percent of revenue in Las Las.
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The 10 Best Hotels in Las Vegas
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MGM Resorts to offer Formula 1 Las Vegas Grand Prix packages at $100K

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- @MGMResortsIntl reports $1bn year-on-year revenue rise for Q2 Driven by its Las Vegas operations, MGM Resorts International reported 44 per cent revenue increase for Q2.

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Las Vegas Sands, MGM, & Wynn Could Lose Millions

Las Vegas Strip Adds a Huge New Casino Project From a Big Name

Tilman Fertitta, owner of the Golden Nugget casino, has big plans for some land he has purchased on the Las Vegas Strip. He wants to build a new casino. The downtown casinos were closer to old-school Las Las than the mega-resorts owned by Caesars Entertainment, MGM Resorts International and Wynn Resort International.
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Las Vegas Strip Adds a Huge New Casino Project From a Big Name
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Cosmopolitan Las Vegas now an official MGM Resorts property

The Cosmopolitan of Las Vegas officially became an official MGM Resorts International property Tuesday. The company closed its $1.625 billion deal with the Blackstone Group. Three regulatory bodies gave final approval for the deal earlier this month. More than 5,000 employees are coming off each receiving a $5,00 bonus from Blackstones. Cosmo generated $ 1.1 billion in net revenue and $416 million of adjusted cash flow in the trailing 12 months.
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Cosmopolitan Las Vegas now an official MGM Resorts property

MGM Resorts is higher after Las Vegas casinos shine in Q1

MGM Resorts International reported a 73% jump in revenue against a soft pandemic comparable. The addition of Aria and Vdara helped the Vegas segment to a big quarter. MGM China was a disappointment again due to the COVID restrictions. A stronger balance sheet allowed MGM to buy back $1.0B worth of stock in Q1 and shares are up 1.57% in AH trading to $42.63.
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MGM Resorts is higher after Las Vegas casinos shine in Q1

Billionaire NBA Owner Plans New Las Vegas Strip High-End Casino

Billionaire NBA Owner Plans New Las Vegas Strip High-End Casino. Most of the new hotel casino development plans on the Las Las Strip lately have centered on North Strip. MGM Resorts International and Caesars Entertainment own over a dozen properties on The Strip and expect to see most of their newest competition in upcoming years to come from the North strip.
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Billionaire NBA Owner Plans New Las Vegas Strip High-End Casino
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Park MGM remains Strip’s lone smoke-free resort-casino

Park MGM is the only casino on the Strip that is smoke-free. The American Lung Association and the Culinary Union were in favor of the resort's new approach. The resort opened in September 2020, almost six months after the Las Vegas Strip shut down as the COVID-19 pandemic began. It's been almost a year and a half since Park MGM reopened as a smoke free resort.
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Park MGM remains Strip’s lone smoke-free resort-casino

Wynn selling real estate in Boston, not Las Vegas

Wynn Resorts is selling its Boston-area casino and real estate to Realty Income Corp. for $1.7 billion in cash and leasing it back for an initial annual rent of $100 million. The deal is expected to close in the fourth quarter. Wynn's CEO Craig Billings wants to keep the Las Vegas property in its hands. He doesn't want to be in a position where it has to choose between paying rent and investing in properties. Last month, WynN announced it was teaming up with a company to develop a multibillion-dollar resort on a man-made island in United Arab Emirates.
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Wynn selling real estate in Boston, not Las Vegas

Las Vegas casino landlord Blackstone buying Australia’s Crown Resorts

Blackstone will buy Australia's Crown Resorts for AU$13.10 per share in cash. The buyout values Crown at about US$6.4 billion. Blackstone has a heavy presence on Las Vegas Boulevard, having acquired several hotels for billions of dollars over the past several years. James Packer, Crown's largest shareholder, controlled 36.8 percent of its stock as of last summer. Packers' latest attempt to gain a foothold on the Strip was with the never-built Alon Las Las. Vegas project.
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Las Vegas casino landlord Blackstone buying Australia’s Crown Resorts

Las Vegas casinos where you no longer need to mask up

Nevada governor reverses a policy that requires people to wear masks in public places. The change took effect immediately. Private businesses, like casinos, and school districts may mandate masks. The state would not require them for teachers as of Friday. It does not apply to public transportation, airports, hospitals, health care clinics or places serving vulnerable populations.
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Las Vegas casinos where you no longer need to mask up
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Las Vegas: What’s coming to casinos and resorts in 2022

In 2021, Las Vegas had some big openings such as Resorts World Las Vegas and Virgin Hotels Las vegasy. Last year, there were also significant acquisitions on the Strip and beyond, including the purchase of The Palms. In 2022, the results of those deals, plus construction and big-name entertainment residencies are what's ahead for LasVegans.
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Las Vegas: What’s coming to casinos and resorts in 2022

Las Vegas’ top real estate deals of 2021

Las Vegas spent the past year grappling with the pandemic and recovering from the economic disaster it unleashed in 2020. Las Vegas also saw a burst of lucrative casino sales on the Strip as tourism rebounded from public health crisis.
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Las Vegas’ top real estate deals of 2021

LVCVA, Vegas Chamber honor Hospitality Heroes

The inaugural Hospitality Heroes were honored at an end-of-year reception at UNLV’s Hospitalities Hall on Thursday December 16, 2021. The event was executed by hospitality students. Eight winners received a trophy, gift bag and staycation at a local resort. Four winners were awarded with the Vegas Chambers Customer Service Excellence Award.
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LVCVA, Vegas Chamber honor Hospitality Heroes
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Las Vegas casino investors wagering on comeback

Las Vegas has seen a burst of multibillion-dollar resort sales this year. Developers have pushed ahead with plans for new hotels on and off the Strip. Florida developer Jeffrey Soffer announced Nov. 9 that he aims to open the 67-story Fontainebleau Las Vegas in the fourth quarter of 2023. Station Casinos aims for ground breaking early next year on a $750 million resort in southwest valley. Dream Las Nevada hopes to break ground next next Year on their 20-storey hotel-casino near the south edge of the strip. Las. Vegas Sands Corp. announced in March it was selling The Venetian, Palazzo and former Sands Expo and Convention Center for $6.25 billion. MGM Resorts International said in July it would sell Aria and Vdara for nearly $3.9 billion and rent them back. Blackstone announced it is selling Cosmopolitan of Las Las Vegas for almost $5.65 billion, nearly $4 billion more than its purchase price in 2014.
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Las Vegas casino investors wagering on comeback

How VICI Properties is quietly becoming landlord to the biggest casinos in Vegas

VICI Properties will own 12 of the Las Vegas Strip's iconic resorts and entertainment venues. It will also own 27 acres behind Bally’s Las. Vegas, Paris Las, and Planet Hollywood. The company has the rights to purchase 28 acres of land behind the Linq and Flamingo Las Las with Caesars Forum Convention Center. By spring 2022, VICi Properties' roster of 27 gaming locations will grow to 45 properties in 15 states. Two high-profile acquisitions have a combined cost of $21.2 billion.
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How VICI Properties is quietly becoming landlord to the biggest casinos in Vegas

MGM Resorts International to Sell The Mirage in Las Vegas

MGM Resorts International is looking to sell The Mirage in Las Vegas. The company is trying to diversify its Las Las Vegas portfolio. It already owns MGM Grand, Bellagio, Aria, Vdara, Excalibur, Luxor, Mandalay Bay, The Mirages, New York-New York and Park MGM. In September, it bought The Cosmopolitan for $1.625 billion.
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Blackstone selling Vegas hotel Cosmopolitan in $5.65B deal

Blackstone is selling the 3,000-room Las Vegas Strip hotel Cosmopolitan in a $5.65 billion deal. The new owners will pay $4 billion for the hotel and $1.6 billion to take over its operations. MGM Resorts International will run the property. It already owns 13 Las Las Vegans Boulevard properties. The Cosmoopan opened in 2010 at a cost of about $ 4 billion. Blackstone bought it in 2014 from Deutsche Bank for about $ 1.7 billion and invested $500 million in renovations.
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Blackstone selling Vegas hotel Cosmopolitan in $5.65B deal

Most Luxurious Casino Hotels in Mississippi

Mississippi has a lot of casinos and is a progressive destination for gambling. The state is also known for its food, music, scenery, and nightlife. It's also a great place for art, street art and printmaking. It has many unique and delicious restaurants. There are many museums and historical landmarks in the state. Mississippi is famous for the food. it's a major player in southern food thanks to its unique creations.
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LVCVA to sell 10 acres of Las Vegas Strip property

LVCVA is planning to sell 10 acres of Strip-front property where the Riviera stood to CB Investment SpA. The sale is part of a long-term plan to finance the renovation of four convention halls. The property is at the southeast corner of Las Vegas and Elvis Presley boulevards. It is expected to fetch $120 million. CB investment will have to begin construction by January 1, 2031. LVC VA has the right of first refusal if CB invests in the property. There is no asking price. A decline in tourism revenue due to the pandemic has delayed the construction of the Convention Center's North, Central and two South halls, which is also a problem.
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LVCVA to sell 10 acres of Las Vegas Strip property

Hotel And Restaurant Rumors Dominate Las Vegas News In October

It's Halloween month in Las Vegas. Health-related face masks are required in casinos. International travel restrictions are lifted in November. Las Vegans should book rooms for the holidays before all international travelers book up the rooms. New Year's Eve is expected to be busy. Conventions and expos are still on hold. The major conventions like SEMA and CES are committed to having in-person events in Vegas, while NAB and AVN are on a hold for now.
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Hotel And Restaurant Rumors Dominate Las Vegas News In October

MGM Closes Sale-Leaseback of Aria, Vdara in Las Vegas

MGM Resorts International has closed a sale-leaseback arrangement with Blackstone Group for a pair of Las Vegas hotels. The casino operator bought Infinity World's 50% interest in CityCenter Holdings for $2.13bn. This gave MGM full ownership of Aria Resort & Casino and Vdara Hotel & Spa. Blackstock sold the real estate of the hotels to MGM for £3.89bn and will lease them to the gambling firm for $245m per year.
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MGM Closes Sale-Leaseback of Aria, Vdara in Las Vegas

MGM Resorts makes shrewd move to acquire The Cosmopolitan of Las Vegas

MGM Resorts is buying The Cosmopolitan of Las Vegas for $1.625 billion. The deal is smart on many levels. It keeps MGM's assets-light strategy. MGM gets its fair share of customer traffic from the baby boomer generation. Since it opened in 2010, The cosmopolitan has become a hipster haven. It's possible that MGM could persuade some of its younger customers to move up to the likes of Bellagio. Once the deal goes through, MGM will have only one property - MGM Springfield in Massachusetts. A real estate company will buy Springfield by the end of the year.
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MGM Resorts makes shrewd move to acquire The Cosmopolitan of Las Vegas

Best Las Vegas Hotels: World's Best 2020

This year's World's Best Hotel Survey closed on Mar. 2. Readers voted on their favorite hotels in Las Vegas. Four Seasons Hotel Las Las was voted the best hotel in the city. Venetian Hotel was also voted one of the top hotels. The survey is based on facilities, location, service, food, and overall value. Properties were classified as city or resort based upon their locations and amenities. It's a global survey. T+L asks readers to weigh in on travel experiences around the globe. They also ask for their opinions on the world's top hotel, resorts, cities, islands, cruise ships, spas, airlines, etc.
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Best Las Vegas Hotels: World's Best 2020

CityCenter Las Vegas approval for MGM Resorts International

MGM Resorts International has received approval to buy a 50% stake in the CityCenter Las Vegas development for $2.1 billion. The casino giant plans to offload the Aria Resort and Casino and Vdara Hotel and Spa to The Blackstone Group for about $3.9 billion and lease them back for an annual rent of $215 million.
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CityCenter Las Vegas approval for MGM Resorts International

Blackstone Reportedly Looking to Offload Strip Casino for $5bn

Apollo Global Management and MGM Resorts International are interested in buying The Cosmopolitan of Las Vegas. Blackstone is looking to sell the Strip casino for $5 billion. Apollo has been on a buying spree for gambling assets across several continents. MGM is selling Aria Resort & Casino and Vdara Hotel & Spa to Blackstones. The private equity firm owns half of MGM Grand and Mandalay Bay and is leasing the resorts to MGM for a $292 million in annual rent.
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Blackstone Reportedly Looking to Offload Strip Casino for $5bn

MGM Resorts still the Strip’s largest casino operator, just not its biggest landowner

MGM Resorts International used to own more than 800 acres of land on the Las Vegas Strip. Now it owns just 15 acres. The company is focusing on asset-light strategy. It owns a 50 percent stake in BetM MGM, the company's sports betting and online gaming operation. MGM made an $11 billion buyout offer for Bet MGM in January, but it was rejected. The offer was made under UK law. Analysts believe MGM wants to buy the other half of BetGM. They say the $8 billion in cash from the transactions could make an acquisition more palatable.
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MGM Resorts still the Strip’s largest casino operator, just not its biggest landowner

GUIDE: Best Hotels in Las Vegas 2021

The Las Vegas skyline is one of the most memorable city skylines in the world. The outlines of some of Las Las' best hotels are visible from the city skyline. Some of these hotel rooms cost thousands of dollars to stay in.
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GUIDE: Best Hotels in Las Vegas 2021

Why Summer In Las Vegas Is On Fire, Plus The Latest News And Rumors

The July 4th weekend was a busy one for Las Vegas. The World of Concrete was the first large convention to return to Las Las in June. Smaller conferences and conventions are also returning to the city. More people visiting Las Nevada means higher hotel room prices. The increase is happening while shows and restaurants are still reopening. It's simple supply and demand.
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Why Summer In Las Vegas Is On Fire, Plus The Latest News And Rumors

MGM Resorts Sells Two More Las Vegas Strip Properties To Blackstone

MGM Resorts sells two more Las Vegas Strip properties to Blackstone for $3.89 billion. Blackstock already owns four casino properties on the Las Las Vegas Strip. It bought the Cosmopolitan LasVegasy from Deutsche Bank in 2014 and Bellagio from MGM in 2019. It also bought MGM Grand and Mandalay Bay in 2020. MGM Growth Properties owns 50.1% of the two recent properties sold. The company wants to continue its asset-light business strategy. They will own the casino business, but pay rent to the physical real estate asset.
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Casino Giant MGM Offloads Aria, Vdara to Blackstone in $3.9bn Deal

MGM Resorts International has agreed to sell Aria Resort & Casino and Vdara Hotel & Spa to The Blackstone Group for $3.89 billion. Blackstones will lease the resorts back to MGM for an initial annual rent of $215 million. MGM will buy out the remaining 50% stake in its CityCenter joint venture from a unit of its partner, investment firm Dubai World for a total of $2.12 billion to boost financial flexibility and secure new growth opportunities.
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Casino Giant MGM Offloads Aria, Vdara to Blackstone in $3.9bn Deal

Mask policies for Las Vegas casinos, stores, groceries

The Centers for Disease Control and Prevention eased the mask-wearing guidelines for fully vaccinated people. Businesses in Nevada may still require masks for customers and employees. The Clark County School District and Nevada's colleges will not change their policies. Caesars announced Friday it won't require fullyvaccinated guests or employees to wear masks while visiting its Nevada properties. The D and Circa, The Circas and The Cromwell will no longer require the masks on their guests. Unvaccined guests/team members are required to have a mask. They are not allowed to visit Caeres' properties Flamingo, Bally's, Caesar's Palace, Rio, Paris Las Vegas, Planet Hollywood, Harrah's Las Vegas, or The Linq Hotel.
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Mask policies for Las Vegas casinos, stores, groceries

Las Vegas high-rise market comes back strong

The Las Vegas high-rise market has re-emerged in 2021 with one of its strongest first quarters ever. The highest highrise sale of the year, $4.35 million, took place in April at a Sky Las Las Vegans penthouse. Luxury sales of $1 million and above also increased. The market is stronger than in 2020 due to the end of COVID-19 pandemic and increased vaccinations. It's one the best condo sales years ever with 970 closings of primarily existing units on the Multiple Listing Service. There were 36 luxury sales this year compared with 15 in the first half of 2020.
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Las Vegas high-rise market comes back strong

Las Vegas room rates drop for the holidays

Holiday season is prime time for finding a low room rate in Las Vegas. 39 casinos have rooms going for under $40 this year. National Finals Rodeo isn't being held in Vegas this time. The list serves as a guide to potential low rates you can secure by phone.
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Las Vegas room rates drop for the holidays