Can a New Las Vegas Casino Threaten Caesars, MGM's Strip Empires?
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The Las Vegas Strip is a four-mile stretch of road with many properties. Caesars will remake its Bally's Property into its Horsehoe Brand. Baly's Corporation has purchased the Tropicana and plans to demolish it to build a self-named hotel/casino. Hard Rock International has bought The Mirage from MGM and it will knock down that property's iconic volcano in order to built its signature guitar hotel. The long-awaited Resorts World Las Las. Vegas opened on the Strip during the pandemic and the decades-delayed Fontainebleau Las Nevada is on track for a 2023 opening. Downtown Las Vegas is an area where neither Caeresars nor MGM owns a property.
Derek Stevens and his brother Greg are opening Circa, their new hotel in Downtown Las Vegas. The hotel offers a more downmarket experience than the more expensive properties on the Strip. It's located on Fulton St. which has a canopy full of lights.
Circa opened its first hotel tower in October 2020. The second tower will open in December 2020 and it will be home to the hotel, the Legacy Club and the world's largest sportsbook. Circa is owned by Derek Stevens, who owns the Golden Gate and The D on Fremont Street. He has no plans to build a property on The Strip. Stevens believes that a simple philosophy can draw people to his Downtown Las Vegas properties. "It's our responsibility to give them the time of their life" . i.e. if they're willing to spend a weekend here or even a few hours here, it's their responsibility.
