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Old 01-05-2022, 05:28 PM
 
15,880 posts, read 14,524,048 times
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I was to the one near Tampa a couple of times. Same ole, same ole. The old Hard Rock was fun as a party hub more so than a casino. We'll see if they can capture that vide in the new one.

Quote:
Originally Posted by himain View Post
Have you guys ever been to a Hard Rock Casino? It's awesome! I can't wait for it on the strip.
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Old 01-05-2022, 05:39 PM
 
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I get the feeling, but I don't know this for fact, that the MGM lions were owned by, and provided to MGM by a third party. When MGM didn't want the lions on the property anymore, that operation opened their own facility for Tourists to see the lions.

Edit: I looked it up. The separate facility was always there. They used to truck the lions back and forth to the MGM exhibit. Now they just don't do that.

I don't know the relationship between MGM and whoever runs the Secret Garden zoo. I'm guessing Zigfried and Roy had a production company, and it was tied to that, but that's a guess. If Hard Rock wants them out, it would be up to that company to decide what it wants to do, build it's own facility, try to partner with another casino, or sell off the animals and liquidate the operation.

Quote:
Originally Posted by cre8lite View Post
sooooo, when mgm got rid of their lion habitat they opened a separate park for visitors to enjoy the kitties. will the same thing happen with the dolphins?

way back when i worked for the mgm, i had to work on some equipment in the dolphin area at the mirage. there was an office under the pool deck with a window into the pool. anytime i would work in the office, the dolphins would hang out next to the window & watch me. it was kinda cool
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Old 01-06-2022, 07:50 AM
 
7,985 posts, read 3,918,759 times
Reputation: 14996
Quote:
Originally Posted by Mariza160 View Post
So let's clarify...Vici Properties, a Caesars REIT spinoff
bought MGM Growth Properties which owns Mirage. What
Hard Rock is buying is the operational lease for the Mirage
Property.

I'd be interested in knowing the terms of these leases...like
how long do they last for, what happens to capital improvements
(like new hotel towers) at the end of the lease, etc...

I know it's a massive shell game...casino ownership on the
Las Vegas Strip...hard to remember who owns what anymore!
It isn't really a shell game - it is about federal income taxes. REITs have different federal income tax treatment than do regular C Corps.

Moreover, resort operations - both regulated (gaming) and unregulated (everything else) generate different profitability than fixed assets (plant & equipment).

Shareholder value is increased when you separate fixed asset ownership and operations into different companies so they can appropriately be priced in the market.

Here are a few interesting VICI charts. As a REIT, VICI has fairly predictable and good Return on Invested Capital (ROIC):


And its Free Cash Flow Yield is headed in the right direction:



And it has a very attractive Economic Book Value per Share:



At VICI's current stock price of $28.86 (1/6/2022) the market is expecting
almost no profit growth over the remainder of the company's life.
As a result, investor expectations of VICI's price are very conservative. It looks like a winner to me.

Last edited by moguldreamer; 01-06-2022 at 08:12 AM..
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Old 01-07-2022, 10:47 AM
 
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Somewhat related, here is a bit of detail of the Bellagio REIT:

https://www.breit.com/wp-content/upl...Case-Study.pdf
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Old 01-07-2022, 01:17 PM
 
Location: Lone Mountain
395 posts, read 273,764 times
Reputation: 660
Quote:
Originally Posted by moguldreamer View Post
Somewhat related, here is a bit of detail of the Bellagio REIT:

https://www.breit.com/wp-content/upl...Case-Study.pdf
Thank you for this and the previous post. Very helpful to me
to further understand the financials. Appreciate it!
(told me I had to spread the reputation points around before giving
you more!)
Mariza
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Old 01-07-2022, 05:16 PM
 
Location: Southern Nevada
6,759 posts, read 3,383,789 times
Reputation: 10390
Quote:
Originally Posted by Willy702 View Post
A guitar, not a guitar shaped hotel is the plan. Basically a larger version of what existed at the Hard Rock LV before it closed to become Virgin.
No, they want a guitar shaped hotel.

https://www.nbclosangeles.com/news/n...strip/2781432/
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Old 01-07-2022, 06:52 PM
 
15,880 posts, read 14,524,048 times
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They've done this before....

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Old 01-10-2022, 07:56 PM
 
6,385 posts, read 11,907,572 times
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Quote:
Originally Posted by BBMW View Post
They've done this before....
I have my doubts on it. I have been to the one in Hollywood, it's quite a site to see.
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Old 01-11-2022, 10:34 AM
 
Location: Way up high
22,403 posts, read 29,522,524 times
Reputation: 31569
Quote:
Originally Posted by Willy702 View Post
A guitar, not a guitar shaped hotel is the plan. Basically a larger version of what existed at the Hard Rock LV before it closed to become Virgin.
No, it will be a hotel shaped as a guitar. I've stayed in it in Hollywood, FL
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Old 01-11-2022, 07:42 PM
 
6,385 posts, read 11,907,572 times
Reputation: 6881
Quote:
Originally Posted by himain View Post
No, it will be a hotel shaped as a guitar. I've stayed in it in Hollywood, FL
And Resorts World LV was supposed to have pandas, a slide for adults, and a Great Wall of China look alike.

These things are "proposed" and could happen, but there are no guarantees.
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