[SHEPNYC]

Do you think City Center will increase tourism to Las Vegas or canabalize other hotels and have no net effect on tourism?

[las vegas drunk]

I voted that it will increase tourism. However, I think the effect will be short lived. In other words, it will not be permanent. My best friend back in Phoenix is very eager to see it. Once he and others see it, it will be forgotten IMO.

[ClarkGrisowld]

It will probably increase tourism some, but not enough to offset the further decline in room rates with all that capacity coming on the market.

[olecapt]

It increases tourism from what it would have been without it. Guaranteed and every time. The rooms are added at the top and all lower properties are pushed down a little. But never enough to offset the new rooms.

You could of course still have a net down. Particularly if say the economic crash in the US deepens next year. But CC still makes it better than it would have been.

[Golfinnova]

Originally Posted by SHEPNYC

Do you think City Center will increase tourism to Las Vegas or canabalize other hotels and have no net effect on tourism?

Both actually, it will increase tourism albeit temporarily because of the "hot and now" effect.

As to the cannibalization effect, it's already happening to the MGM properties. The real challenge will be to those that were in the "elite" status such as Mandalay Bay, MGM, Bellagio, Wynn/Encore, etc. The "dogs" have already made their moves so they can't cut any more.

[ClarkGrisowld]

MGM has already slid to the bottom of the mid-tier, if not lower. Mandalay will definitely slide there as CC takes a spot at or near the top of the ladder and pushes everyone else down.

Wynn/Encore are pretty firmly entrenched for the younger, hip crowd. But I think CC is probably a bigger threat to it than to Bellagio or Venetian.

Bellagio has a well-entrenched older base. Of course, MGM will probably cannibalize that itself as it tries to market to some of those whales and big spenders. I suspect ultimately MGM sells Bellagio and tries to convert as many of its key players to CC. I think they keep Mandalay and possibly MGM (being the flagship makes it kind of tough) to be able to service the entire market spectrum.

[jfkIII]

Kepp your fingers crossed. A little negative publicity on the joint could have a negative effect.

[PinkString]

I voted that it will increase tourism, because it will for awhile.
I was there yesterday and for me, I was underwhelmed. I guess I was expecting more glitz. Of course I didn't see everything, just the high end shops and Aria.

[las vegas drunk]

How is the Casino? I want to check it out, but I bet the table minimums are really high.

[bledsoe3]

Originally Posted by las vegas drunk

How is the Casino? I want to check it out, but I bet the table minimums are really high.

I'm going to check it out next week. But I'll probably play someplace cheaper too.