Las Vegas Strip casino operators are poised to see significant earnings boosts following the closure of two iconic properties, the Tropicana and the Mirage. The closures, announced earlier this week, are expected to shake up the competitive landscape on the bustling Strip and potentially drive more traffic to the remaining properties.
The Tropicana, a staple on the Strip since 1957, will close its doors for good on August 6th. The Mirage, known for its iconic volcano show, will follow suit on September 28th. Both properties have struggled in recent years to attract visitors and remain profitable, leading their parent companies to make the difficult decision to shut them down.
While the closures may seem like a blow to the Las Vegas tourism industry, analysts believe that the move could actually benefit the remaining casino operators. With fewer options available to tourists, they may be more inclined to visit other properties, leading to increased revenue and earnings for those that are still open.
One of the biggest winners could be MGM Resorts International, which owns several properties on the Strip including the Bellagio and the MGM Grand. With the closure of the Mirage, MGM stands to gain additional market share and could see a notable uptick in their bottom line as a result.
Caesars Entertainment, another major player on the Strip, could also benefit from the closures. With the Tropicana shutting down, Caesars’ properties like Caesars Palace and the Flamingo could see an influx of visitors looking for alternative options.
Wynn Resorts and Las Vegas Sands, which operate high-end properties like the Wynn and the Venetian, could also see a boost in earnings as tourists seek out luxury accommodations in the wake of the closures.
Overall, analysts are optimistic about the impact that the closure of the Tropicana and the Mirage will have on the Las Vegas Strip casino operators. While it’s always sad to see iconic properties go, the potential for increased earnings and market share for the remaining operators is certainly a silver lining in this situation. Only time will tell how this shake-up will play out on the bustling Strip, but one thing is for certain – the competition just got a lot more interesting.
