Home Subscribe Las Vegas Review-Journal
  Jobs Cars Homes Shopping Travel Weddings Golf Best of Las Vegas Photo   Search:

RECENT EDITIONS
Sat Sun Mon Tue Wed Thu Fri

Business


INSIDE GAMING: No second for Strip, executive says

If it's not the Strip, it doesn't interest MGM Mirage President and Chief Financial Officer Jim Murren.

Murren's company owns some 760 acres along the Strip, encompassing 10 casinos and the 76-acre, $7.4 billion CityCenter development. Roughly 200 acres of the Strip holdings are either vacant or underdeveloped.

Murren has heard recent discussions about the creation of second Strips west and east of Las Vegas Boulevard. But he doesn't believe the second Strips will have has the same feel as the Strip.

"The Strip is not Manhattan," Murren said. "If you can't be on Fifth Avenue, you might as well be in Trenton (N.J.). In New York, if you can't be on Fifth Avenue, there's always Sixth Avenue or another street. The Strip is different, and we don't believe you can duplicate it."


Most Popular Stories
  • Lake Las Vegas seeks Chapter 11 protection
  • Condo buyers struggling for closure amid credit squeeze
  • INSIDE GAMING: For Penn, breaking up not so hard to do
  • Owner of Fitz under attack
  • New-home sales hold steady in LV
  • Is any bank really safe now?
  • RECORD PAYDAY
  • MCCARRAN INTERNATIONAL AIRPORT: County approves third terminal
  • Starbucks to close 17 LV Valley stores
  • NEVADAN AT WORK: Exec helps Golden Gaming forge into future



  • Murren said the recent push to develop land along Dean Martin Drive and real estate west of Interstate 15 will only yield moderate gaming potential. He said the land is more suited for high-rise residential and retail or mixed-use properties.

    New York-based developer Elad Group says it does not owe local broker David Atwell any fees related to its $1.2 billion purchase of the New Frontier.

    Atwell's company, Resort Properties of America, is suing Elad and an escrow company, claiming the brokerage company was the "procuring cause" for the sale.

    In response to a July 28 Review-Journal article on the federal lawsuit, an Elad spokesman said the company is confident in its position.

    "The company did not engage Mr. Atwell to act as a broker and he did not earn and is not entitled to a commission."

    Resort Properties is asking for a $12 million buyer's broker fee plus damages.

    Laughlin's 1,495-room Ramada Express is now the Tropicana Express.

    Like its Strip namesake, the Tropicana Express is operated by Kentucky-based Columbia Sussex Corp. The name change is an effort to raise the brand profile.

    The Tropicana Express is the second of Laughlin's 10 casinos to change its name this year. The 1,904-room Flamingo recently became the Aquarius.

    The Imperial Palace has been spared the wrecking ball and is getting an upgrade.

    Harrah's Entertainment is spending money and labor to enable the Strip casino's slot machines and amenities to accept the company's Total Rewards customer loyalty card.

    The conversion is scheduled to finish by January.

    Recent speculation had centered on the Imperial Palace's demise. Observers figured the land would become part of the company's larger Strip master plan.

    The Inside Gaming column is compiled by Review-Journal gaming and tourism writers Howard Stutz, Benjamin Spillman and Arnold M. Knightly. Send your tips about the gaming and tourism industry to insidegaming@reviewjournal.com.



    Leave Your Comment 1 Reader Comments
    Terms & Conditions
    The following comments are provided by readers and are the sole responsiblity of the authors. The reviewjournal.com does not review comments before publication nor guarantee their accuracy. By publishing a comment here you agree to abide by the comment policy. If you see a comment that violates the policy, please notify the web editor.

    Some comments may not display immediately due to an automatic filter. These comments will be reviewed within 48 hours. Please do not submit a comment more than once.
    Current Word Count:

    sdaf wrote on August 05, 2007 11:30 AM: has