Home » VT News » THEpoll: Should Derek Buy Out The Riviera?
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Recent Comments:
michigan2010 posted: "MGM equals cookie cutter casino. No to reason to step foot in Bellagio again.
Just hope they don't screw up..."
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wpsteel66 posted: "Total bummer…talk about taking the class and uniqueness away from the Bellagio…another smart move on CEO Jim and making all..."
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Comments & Discussion:
I think there needs to be a third selection. It Depends. At the end of the day D.Stevens is a business man and his objective is to make profit. I think he does a damm good job of remodeling and refurbishing existing properties to make them profitable (I'm assuming since I haven't seen his books). The best example is the D. I believe him and his bro invested $15-20 million dollars to transform that property into what it is and it looks awesome. Especially the lighting he has done on the outside and in. Kind of reminds me of a cross between Steve Wynn for his innovation and the Late Bill Bennett of Circus Circus Fame.
Back to what I was saying, the it depends, would depend on if he could get it at the right price (plus whatever it would take to refurbish it). With that being said I hope he is able to get it at the right price. Seeing what he has done with the D it would be awesome to see what the guys skills would be in transforming the Riv. Best of luck Derek.
I would think the Rio could be had cheap and would be a good fit for Stevens.
The one thing that has prevented a sale of The Rio can be summed up with the following letters:
WSOP
The only thing keeping The Rio viable is the WSOP and attempts to sell The Rio have fallen apart because the buyer either wanted a discount on the deal or require the WSOP to remain at the property for a few years after the deal closed.
I would agree that WSOP is the main reason people even remember the Rio besides having Penn & Teller there. That said, I voted yes with conditions. A purchase would stretch Stevens a bit thin wouldn't it? It would be hard keeping tabs on three casinos and the courthouse property.
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