Las Vegas may be the ultimate city that illustrates the idea that a rising tide lifts all boats. When a major event takes place on the Strip or at the Las Vegas Convention Center (LVCC) , that's good for the entire city.
A major convention like CES or World of Concrete floods the city with people pushing up hotel rates, filling restaurants, and packing casinos. That's not just good for the big players like Caesars Entertainment (CZR), MGM Resorts International (MGM), and Wynn Resorts (WYNN), which all own multiple Strip properties, but also the smaller players.
That's why even though Las Vegas has a lot of competition, it also has a lot of camaraderie. When a major event like the NFL Draft, the Super Bowl, or the upcoming annual Formula 1 race take over the city, that's good for every casino, hotel, and restaurant.
The more people that come to Las Vegas, the more money every operator makes. That's why Las Vegas' biggest operators, including Caesars and MGM, were integral in bringing the NHL's Las Vegas Golden Knights and the NFL's Las Vegas Raiders to Sin City.
The Knights play 41 home games which can bring nearly 18,000 fans to T-Mobile Arena on the heart of the Strip. And while the Raiders only have 8 or 9 home games each year, each one brings roughly 65,000 people to Allegiant Stadium which is Strip adjacent.
Now, a different coalition of casino leaders want to bring another major sports property to the Las Vegas Strip -- this time, on the north end of the Strip.
Image source: Circus Circus Hotel
The North Strip Makes a Push for the Oakland A's
The Oakland A's need a new home and Las Vegas has either been clearly in the running or has been used to get the team a better market in its current city. Unlike the Raiders, which clearly wanted to make the move, the A's have been openly negotiating with Las Vegas and Oakland.
In Vegas, while a number of sites were considered, for a while it appeared that only the Tropicana property, now owned by Bally's (BALY), was still in the running. A second site, the Las Vegas Fairgrounds, which is owned by Treasure Island and Circus Circus owner Phil Ruffin, appeared to be out of the mix.
That has changed once again as a group of North Strip and downtown casino operators have thrown their support behind that site.
A coalition of resort casino operators from the north Strip and downtown Fremont St. area met with Oakland A's ownership Feb. 1, the Las Vegas Review-Journal reported. Resorts World Las Vegas President Scott Sibella told the paper that the groups discussed the potential of a 35,000-seat domed stadium on the Las Vegas Festival Grounds site, located on the southwest corner of Las Vegas Boulevard and Sahara Avenue.
“We reinforced our support that we believe the best site is on the Sahara/LV Blvd,” Sibella wrote in an email. “Having the A’s in Las Vegas will be great for the Strip properties and the LV community.”
The A's Have to Make a Decision
Ruffin did not comment for the Review-Journal story, but it's unlikely he would not be interested in building the stadium on his under-used property. Having the A's on the North Strip would provide a major draw for what has been the less successful stretch of the 4.2-mile iconic stretch of roadway.
In many ways, either site would work for the A's as both have more than enough hotel rooms, restaurants, and casinos to support the influx of 35,000 people per game. That will be even more true when the long-delayed Fontainebleau opens on the North Strip toward the end of the year.
No actual plan was made at the meeting but the north Strip and downtown casino operators essentially threw their support behind the project.
Derek Stevens, who owns Circa, The D, and Golden Gate on Fremont St. made his support very clear.
“This will be very good for Las Vegas, very good for jobs, very good for hotel rooms (i.e. the LVCVA). The key thing is getting the location nailed down and moving forward,” he told the paper.
