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Las Vegas News of the Week

 
November 3, 2008
Vegas4Visitors Weekly

by Rick Garman


Echelon Edges Away
Back in August when the Boyd Gaming Group announced they would temporarily halt construction on their multi-billion dollar
Stardust replacement called Echelon, they said it would be for only 9-12 months while they sorted through the highly complicated financial structure of such a huge project. But no worries - the cranes and crews will be back on the job sometime in 2009.

Do I hear 2010?

Last week the company announced that it is effectively mothballing the entire project until at least 2010 while it goes back to the drawing board on how they are going to complete the resort now that it looks like two of their major partners have all but dropped out of the deal.

Morgan's Hotel Group was to contribute to the 5,000 room inventory by building two of their luxury boutique hotels on the property - a Mondrian and a Delano - but it looks like that may no longer be part of the Echelon package.

And General Growth Properties was supposed to contribute a 300,000 square-foot retail component but now that company's entire future is in question (see related story below).

If all this had happened a year ago it would've been difficult for Boyd but they could've gone back to the drawing board and just erased things if they needed to. The problem is that there are partially built hotel towers on the land where the Stardust used to be so that particular train has already left the station. Going back now to reimagine the entire resort is going to be a timely and costly endeavor.

In the meantime the opening date for Echelon edges further away. When first announced it was supposed to debut in 2010, but now that will probably be 2012 at the earliest.

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Rooms With a View

More Casino Cancellations
MGM Mirage corporation - the company that manages hotels like
Bellagio, MGM Grand, Mirage, and Mandalay Bay to name a few - has announced major cutbacks in their future plans for Vegas and elsewhere, part of an effort to bolster their sagging stock price.

Shelved projects include the big resort that had been planned for the corner of Sahara and The Strip that was to be a partnership with Kerzner International, a company that manages resorts in South Africa, and most famously the Atlantis in the Bahamas. The 40 acre development was going to be a multi-billion hotel and casino complex that would've been integrated with a top to bottom overhaul of neighboring Circus Circus.

The proposed MGM Grand resort in Atlantic City has also been cancelled.

But the cuts don't stop with things that don't exist yet. The company also announced that they are massively scaling back plans to remodel and upgrade their Las Vegas properties. They had been planning about a billion dollars in renovations but now are going to spend a fifth of that. So I hope you like the way the casinos and rooms look now because for the most part, they are staying exactly the way they are for the foreseeable future.

Just how far have the stocks sagged? A year ago, MGM Mirage shares were trading for about $90. Last week they dipped as low as $10. The same goes for other publicly traded casino companies including Wynn Resorts which went from over $150 to around $30 and the Las Vegas Sands Corporation (Venetian, Palazzo) which went from over $120 down to as low as $5 per share.

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Shopping For Shops
General Growth Properties is not a company most people recognize or even know what they do. Financial planning? Weight training?

But if you've ever been to a mall in Vegas, you've probably been doing business with GGP. They own most of the major shopping centers in town (and elsewhere) including the Fashion Show Mall across from Wynn Las Vegas, the Grand Canal Shoppes at The Venetian, the Shoppes at Palazzo, the Boulevard Mall on Maryland Parkway, and the Meadows Mall on Decatur. In short they own some of the most high profile malls in the country that generate some of the highest revenue per square foot of malls around the world.

But a great portfolio doesn't always mean great success as was evidenced last week when General Growth Properties put three of their Las Vegas malls up for sale in a bid that most analysts believe is designed to keep the company from going bankrupt. Faced with massive debt and some looming loan payments, the company is scrambling to find a way to stay afloat.

On the block are the Grand Canal Shoppes, the Shoppes at Palazzo, and the massive Fashion Show Mall. No price tags were attached but I can pretty much guarantee you that I can't afford it.

Possible suitors are few and far between (who has that kind of cash these days?) but one name floated has been the Simon Group, which owns (among other things) the Forum Shops at Caesars Palace.

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Vegas4Visitors Weekly Awards
The Good Luck of the Week Award goes to Criss Angel and Cirque du Soleil. Their combo Cirque meets illusion show called
Believe opened last week at Luxor to mixed reviews after a slew of bad press as the show ran through previews. But perhaps they don't need luck - the show has already sold more than $5 million worth of tickets.

The Good Credit of the Week Award goes to anyone who wants to stay at Encore Las Vegas, which is now accepting reservations starting January 12, 2009. You're going to need good credit since the room rates for the first few days are well over $300.

The Good Idea of the Week Award goes to the Tamares Group, operator of several Downtown hotels including the Plaza, which has submitted a proposal to build an art museum in the neighborhood. If approved and actually built (not done deals by any stretch of the imagination), the museum would go into a vacant building at the corner of 6th and Fremont, right across from the El Cortez and would include an arthouse movie theater and maybe a restaurant.

And finally, the Good Thing to Remember Award of the Week goes to the Spring Preserve, which as a part of it's ongoing Untold Stories Lecture Series will be presenting a group of people on November 6, 2008 who were intimately involved with the MGM Grand fire nearly three decades ago. Remembering the tragedy and heroism of the day should remind us all of some important safety lessons. For more info on the lecture call 702-822-7786 or visit the Springs Preserve website.

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Feature of the Week

 
Restaurant Review:
Stratta

 

The newest restaurant at Wynn Las Vegas has a lot to prove. After all, it took over the space once occupied by the much beloved (but apparently low-trafficked) Corsa Cocina and it is the latest eatery from James Beard Award winning chef Allessandro Stratta, whose Alex restaurant at Wynn consistently garners rave reviews.

This restaurant's strategy is a comfortable array of Southern Italian cuisine that comes across as "fine" without being intimidating or priced into the stratosphere.

The room is small by comparison to many Vegas restaurants but it isn't exactly intimate. If there is one complaint it is here since two sides of the room are open to the casino and a walkway from the parking garage respectively. Expect a lot of gawkers watching you eat.

But luckily you'll be so engrossed in your meal that you probably won't notice or care.

The warm ciabatta bread served as a starter is baked on the premises and the pesto you put on it is "homemade," subtle in texture and flavor that strikes the "just right" balance. I'm more of a butter man myself when it comes to bread toppings but the pesto made me want to reconsider my stance.

Appetizers seem to fall mostly to the Italian side of the spectrum with an assortment of bruschetta, fried calamari, beef carpaccio, assorted sausages and prosciutto, and more available to get you started.

I went for the potato gnocchi, soft dumplings in a creamy tomato sauce with melted mozzarella. It's important to note that this is not always on the menu because they are very concerned about potato quality, which speaks highly not only of the dish but of their standards.

It was delectable, with the dumplings almost literally melting in my mouth and the chunks of mozzarella providing a chewy counterpoint. I had to restrain myself from licking the plate clean and then asking for seconds.

I skipped the wood-fired pizza section but if you are so inclined you can get sausage, meatball, salami, prosciutto, and a simply mozzarella version among others.

Ditto the soups and salads but there are plenty to choose from here including a basic Caesar, a chilled seafood, and a steaming bowl of pasta fagioli soup.

The main course options are equally wide-ranging. A few simple pasta dishes such as rigatoni with meatballs and baked lasagna mix in with more extravagant fare like beef short ribs in a red wine sauce, seared sea scallops, traditional oso bucco, veal marsala, and linguini with clam sauce as just a few examples.

I was tempted to go with the baked lasagna but ultimately went with the roasted pork chop. Why? Because it was stuffed with fontina cheese and prosciutto. That would ultimately be pork stuffed with cheese and pork and I don't know how anyone could pass that up.

The chop itself was thick on the bone, roasted to a golden brown topped with chunks of garlic and onion. Inside the meat was tender and juicy but that filling of cheese and prosciutto was the real victory here. Even though I knew it was going to be there, it still came as a delightful surprise, like unwrapping a really cool toy for Christmas and finding another toy inside that one. Melted to a generously gooey level and slightly tangy, the filling turned an already good pork chop (which admittedly can be a bit boring) into a great one.

The only disappointment in my meal was the side I ordered of parmigiano and garlic potatoes. These roasted chunks tasted as though they had been roasting about three or four minutes longer than they should've been, so they were a bit dry and the much of the flavor had been leeched away.

For dessert I went with the chocolate toffee cake, which I think should've been called the chocolate coffee toffee cake since it had layers of cappuccino mousse between the fluffy cake layers and the whole thing was rolled in crunchy chocolate toffee pieces. A crunchy piece of cake is disconcerting at first but I got over it because it was just that good.

Prices are high but not for a Las Vegas casino restaurant. In comparison to most nice places, especially at Wynn, Stratta would be considered moderate. Appetizers, salads, and pizzas are in the $10-20 range and most entrees are in the $25-35 range although a few like the lobster and oso bucco break the $40 barrier. Desserts are all $10. So figure with a glass of wine, an appetizer or salad, a main course, dessert, tax, and tip around $75 per person. It's scary that $75 is considered moderate in Las Vegas but there it is.

Stratta had a lot to prove and it does so with style.

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Feature of the Week

 
Updated Hotel Review:
South Point

 

This hotel has a confusing corporate lineage that I won’t bore you with here, but the short version is this: after opening as South Coast the place was bought by Michael Gaughan, part of a famous Las Vegas casino family, and rebranded as South Point.

Originally conceived as a sister to locals’ favorites like Orleans, Suncoast, and Gold Coast, the South Point continues to follow the successful locals’ casino formula: lots of low-limit gambling, plenty of low-cost dining and entertainment options, and comfortable and relatively inexpensive accommodations.

When the hotel first opened I complained that it didn’t have much of a personality. It felt bland and a bit impersonal, but it’s amazing what a new owner and a new attitude can do for a place.

South Point is located on Las Vegas Boulevard South, more popularly known as The Strip, but not in the region most tourists consider when thinking of the destination. It’s about six miles south of Mandalay Bay, right along Interstate 15 in a rapidly developing area of condos, apartment buildings, shopping complexes, and houses that was nothing but scrub brush a few years ago.

The overall scheme of the property is Southern California sunshine, all muted earth tones with white and gold accents. To be honest, this helped to contribute the bland complaint I had about the hotel but for compared to many newer Las Vegas hotels, which are the definition of the word bland, I don’t have as much of a problem with it as I used to.

The main floor is given over to the casino of course - an 80,000-square-foot barn of a space that when it opened provided absolutely no intimacy. But a reorganization of the floor along with additions like a high-limit area and a lounge has broken up the sight lines so that I don’t feel exposed like I did before, which is great because you don’t want to feel exposed when you’re feeling guilty about blowing the rent money or little Billy’s college fund.

There are plenty of games on which to do just that – more than 2,200 slot machines with plenty of video poker (all coinless, ticket-in/ticket-out technology), several dozen of the most popular table games, a race and sports book, a keno lounge, a poker room (more of a poker corner), and a giant bingo parlor on the second floor.

Ringing the room are the restaurants, bars, lounges, and a 400-seat showroom. There are no name-brand eateries here (except for Seattle’s Best Coffee I suppose) but they have all the usual suspects covered including a big buffet, a steakhouse, an Italian joint, and a 24-hour café among others. An addition since Gaughan took over added another couple of restaurants and a bar on the second floor.

Also on that second level is the aforementioned bingo parlor plus a 64-lane bowling alley with all of the latest high-tech wizardry the sport seems to demand these days, a video game arcade, and a 16-screen movie theater complex.

Other amenities include a very well-equipped work-out room (all the machines have their own TV screens), a nice spa offering all manner of massages and treatments, and a pool area with multiple places to splash around or lounge. They even have a sundry store that proclaims to have the lowest prices in town on packaged liquor, something worth noting if you are tired of paying twice the going rate for a six-pack at your hotel’s sundry store.

But the centerpiece of the hotel and the thing that makes it different from pretty much everywhere else in town is the giant Equestrian and Events Center, a 4,400 seat arena for horsing around and other entertainment. It features a 250x125 foot show floor arena, 1,200 climate controlled horse stalls, room out back for 2,000 head of cattle, over 100,000-square-feet of meeting and convention space, a bar, and snack facilities.

It has become one of the premiere equestrian facilities in the country and you can regularly see guys with big hats and buckles wandering the halls. During the National Finals Rodeo held in Vegas at the Thomas and Mack arena in December it is pretty much impossible to get near the place much less find a room here.

Of note is the giant statue of legendary casino magnate Benny Binion astride a horse just outside the equestrian center. It was donated by Binion’s daughter but was so big they had to cut holes in the walls to get it inside.

The existing 1350 guest rooms in a multi-winged 25-story tower are lovely, each around 500-square feet and completely packed with all of the conveniences you could possibly need including flat-panel televisions with movies and Internet access, separate high-speed and wireless Internet access, hair dryer, iron and board, coffee maker, and more. The beds are plushy, the furnishings are all simple and tasteful, and the towels in the moderately sized bathroom are soft.

Prices are a bargain, on most days, not only for what you are getting but for the city as a whole. Rates during the week are as low as $70 a night and rarely exceed $100, while weekends are as low as $80 and rarely go over $120. Not the cheapest hotel in town but when you look at what it has to offer in terms of amenities and appointments those are great prices.

Service was extremely friendly everywhere I went, a nice change from when the hotel first opened and things were a bit too cold for my tastes. Looks like Mr. Gaughan focused on this when he took over the property and it shows.

As stated, I found the hotel boring when it first opened as South Coast, devoid of personality. These days South Point may not be the most exciting hotel in town, but it has found its niche and is doing a great job of making a statement beyond just its low cost and high value.

HighsVery nice rooms, a lot to do, bargain rates.
LowsLocation.
CategoryRatingNotes
Location 4Not too far from The Strip but far enough.
Price 8You can get some very inexpensive rates here.
Value10Worth it even when things get a little pricey.
Rooms 8Very nice.
Casino 8Lots of options, low-limits.
Amenities10Rooms have everything you want.
Facilities10Property is full packed with things to do.
Service 9Very friendly and efficient.
Fun 8Improved since the name change.
Bonus 7A good Strip alternative.
Vegas4Visitors Rating: 82

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