VegasTripping Interview With Mark Adams from Vegas Today and Tomorrow

Talkin' Shop With Future Vegas' Amerigo Vespucci

Posted by Chuckmonster

VT: There's another 3,000 lb elephant in the room other than MGM Mirage, the company soon to be formerly known as Harrah's. They've been making all sorts of grunts and groans, thrown out various dog biscuits, reading tea leaves, promising this and saying something else about whatever it is that they are going to do with the east side of the strip from Planet Hollywood to Venetian. What's going to happen?

MA: What would I like to see or what's really going to happen?

VT: What do you know and do you want to see?

MA: I don't know anything. Harrah's, like you said, is another elephant and they're really difficult to get anything out of. When you see that they've assembled all of the land behind Imperial Palace - except Oscar Nunez' place, he's still holding out. Dear Oscar, if you're reading this... SELL! (laughs) Because if you don't... (laughs) They're not going to keep upping their offer and you will have convention center parking on three sides of your lovely little apartments. [Oscar] has two story apartments in that slummy little neighborhood back behind there. He's holding out for the big bucks and if you look at the map, you'll see the chunk cut out, Harrah's can easily build parking or convention facilities right around him. Look behind the Treasure Island and you'll see a little square back there that isn't colored that is an apartment that held out for the big money and Steve Wynn said "to hell with them."

VT: There's a woman in Atlantic City (Vera Coking) who owns a three story house that is surrounded by Trump. She won't sell. She said she'd sell to Wynn, but not to Trump, so if Wynn buys Trump's dumps you might see that building get wrecked, but we all know that Wynn has other plans for Atlantic City.

MA: Harrah's just announced an arena behind Ballys on 10 of the thirty-some-odd acres they've got back there. It will sit directly behind Ballys and a little bit of Paris. There's still 2/3 of that land that goes all the way down to Harmon that's vacant. I'm sure they're planning on a resort. Once the Harmon corridor = which is constantly going through cancellations and changes - ever does happen, Paris has a great spot for a great resort. They can tie it into Paris and tie it into Ballys and bridge across to the Flamingo side and surround everything. So I imagine a resort going there eventually.

Behind the Imperial Palace and Flamingo, I imagine a major convention center. Not that Las Vegas doesn't have enough convention space - over 9 million square feet currently open, which is more than any other city on the planet. A city of 1.5 million people with more convention space than New York City... that's a lot of space. Still they build it, and they fill it.

Behind Ballys you'll find a conglomeration of condos and definitely conference space, maybe. It's a good spot for it, it's a contiguous with Sands Conference center and it makes sense to have conference centers near each other. A lot of people are saying that the Imperial Palace is here to stay because they're retrofitting the casino for Harrah's Total Rewards program. That doesn't really mean anything because those machines are going to end up in other Harrah's casinos if they do blow up Imperial Palace and they will all be Total Rewards ready. Just because they're doing some software, doesn't mean a thing. MGM built a $40 million dollar building behind New York-New York just to house the architects and the developers. They're tearing it down when they're done with it. It's not going to cost $4 million dollars to retrofit a few computers.

VT: It's just installing a Service Pack.

MA: Exactly, they're installing a service pack so while its still there [so they can still track play in Total Rewards]. It doesn't mean that the Imperial Palace won't be blown up. Imperial Palace, sorry old girl, needs to be blown up... it's tired.

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Comments & Discussion

thank you for the interview - i actually found this site thru vegasTAT when they won the trippie award last year, and i go to both sites daily. it was very interesting to see that MGMMirage was against the renderings, but it didn's surprise me. Mr Adams is doing a wonderful job over there.

you're very welcome. mr. adams is smart as a whip and unbelievably creative...

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