Under New Ownership
THREE PROPERTIES START 2020 WITH DIFFERENT LEADERS, BIG PLANS
It's inevitable in any city: Big plots of land switch hands, deals become public, and new marquee signs go up. In Las Vegas, this process is often commemorated with the boom of a hotel tower implosion, making way for the latest and greatest. But in 2020, three new owners are making big bets on existing properties rather than starting from scratch. Here's what's new and what could be in store.
Standing at the North end of the Strip since 1968, it feels like Circus Circus has always been there. Generations of travelers have stayed and played at the resorts clowney environs, and despite its old Vegas history, Circus Circus created a family-fun element in Vegas with both its Midway and with the Adventuredome indoor amusement park.
The property and its adjacent Las Vegas Festival Grounds venue were sold to Treasure Island owner Phil Ruffin earlier this year. In October, Rufin told the Las Vegas Review-Journal that the classic property would be updated without changing its DNA as a value-based and unique Vegas destination. He suggested that the biggest changes were coming to the Slots O' Fun casino, guest accommodations (including room renovations) and the possible removal of the RV lot, the only one of its kind on the Strip.
A CLASSIC RETURNS
Outside of downtown, it's rare to find anything "retro" about Vegas.
Sahara Las Vegas is changing that, at least in name. The former SLS hotel, which never really took off on the North Strip, is known as Saraha once again. The new ownership, Meruelo Group, has already begun renovations to fit the re branding - expect SLS's pop art aesthetic to give way to desert palms and nostalgic touches. The new ownership team underscores that the look and feel is thoroughly modern, however, and not a return to the sometimes-cheesy, possibly-problematic Moroccan theme of the original property.
NEO-RIO
Rio All Suite Hotel and Casino is unmistakable with its two neon-clad towers, but anyone gazing at it instantly knows it's well off-Strip. Perhaps this was part of Caesars impetus in selling the property to New Yark-based real estate developer Imperial Companies.
What lies ahead for Rio? Not much will change, initially. Caesars still retains control of the property as a tenant, choosing to pay rent rather than own. Part of that decision-making involved Rio's hosting of the World Series of Poker, one of the highest-profile events in the city.
The purchase is Imperial's first foray into Vegas, and they may be thinking there's a sunny future west of the 15 freeway- the Palms Casino Resort just completed a huge, buzz-generating $620 million renovation, billing itself as "New Vegas."
