For decades, Las Vegas casinos have relied on slot machines to bring in customers. However, these days, it seems that the Vegas Strip’s biggest entrepreneurs are putting their main focus on non-slots attractions.
For example, MGM Resorts International CEO Jim Murren has debuted a 20,000-seat arena while Wynn Resorts Chairman Steve Wynn is working on a property that would revolve around a 38-acre lagoon. While these are certainly fascinating spectacles, they noticeably don’t have anything to do with slots.
The Las Vegas Sun recently reported on this matter, discussing how strip revenue is being dominated by non-slots attractions. And the recent moves by Murren and Wynn look to capitalize on this trend.
MGM’s new T-Mobile Arena hopes to feature NHL hockey if businessman Bill Foley is successful in convincing the league that Vegas should have a franchise. Whether this goes through or not, the company’s new entertainment district, the Park, will also draw visitors with non-slots attractions. Located between MGM’s New York-New York and Monte Carlo, the area features trendy restaurants and an in-progress, 5,000-seat theater.
Addressing a crowd about the Park and its lack of slots or table games, Murren said this is about helping Vegas evolve.
“As the state’s largest employer, its largest taxpayer, we needed to ensure that this legacy, this project, accomplished many goals,” said Murren. “First, we’ve got to make sure that we help Las Vegas to continue to evolve – to be that kind of place where people around the world need to go to see the new, the exciting, the very different.”
As for Wynn’s new development – Paradise Park – it still needs approval from board members before moving through. However, once completed, it would see the golf course behind Wynn Las Vegas and Encore transformed into a huge lake with a white sandy beach, boardwalk, 1,000-room hotel, restaurants and meeting space.
Those who aren’t staying at the hotel would pay an admission fee worth between $25 and $30, allowing them to paddle board, parasail and water ski, before enjoying a Disney-like fireworks show at night.
“There will always be that 40-odd million people here. And what I am saying is I want to give them something to do,” Wynn said about Paradise Park. “I don’t give a damn if they put a nickel in a slot machine. I want them to pay my admission. I want them to stay in my rooms. I want them to drink my booze and eat our food.”
Slots and other gambling have always and will always remain a big part of Las Vegas’ revenue. However, it seems like the city’s trend of diversifying their offerings will continue.