Las Vegas Strip Changed Forever: Landmark Hotel’s Closure Ends an Iconic Era

Despite the patch of road only being 4.2 miles, it is one of the hallmarks of the United States — and many have mourned the loss of their favorite haunts and hangs. Here’s what you need to know about the Las Vegas closures.

This unique experience served as a last “remembrance of famed magicians and their longstanding run as headliners at Mirage,” per MSN. It will allegedly be rebranded as Hard Rock Las Vegas after the closure and renovations.

The center was a beacon for providing sustainability, wildlife preservation, and attracting thousands of regular victors yearly. It even made it to the hall of fame in Las Vegas Magazine in 2021.

The Volcano was once a well-known free show and one of the only of its kind. It will be replaced by HRI’s Guitar Hotel.

The most notable among many include Lin Manuel Miranda’s recent musical, Legends in Concert, and Meat Loaf’s Bat Out of Hell piece, per the outlet.

“The kinds of threats that really lead me to the decision that this neighborhood was no longer a safe place for a standalone small business were things like gun violence, things like large groups of unruly individuals,” she said.

Their liquidation strategy was successful, allowing them to get court approval for a company reorganization plan. The assets of the company were purchased by Overstock.com.

Nevada was one of the hardest hit states by the pandemic, with many businesses choosing to permanently close their doors during that time, unable to deal with the financial stress.

Their wages were not keeping up with the cost of inflation, leaving them unable to afford basic expenses like food and rent. Previously unemployment hit 30% at the height of COVID, but in 2022 it was still 5%, which was higher than the national average.

A Las Vegas housekeeper at the Bellagio, Gladis Blanco said in 2022 “Everything is going up. Gas, food, rent, everything. But not our wages. It’s getting better for businesses but not for us: we are still struggling.” Workers are feeling the strain, which is contributing to many of the recent closures of historic landmarks in downtown Las Vegas.

“It’s becoming a more delicate situation every day,” he said “Las Vegas was ground zero for what the pandemic meant: casinos had never shut down before. Right at the time when the recovery is taking hold, global economic factors are taking hold. Global inflation, supply chain challenges, rising interest rates, all of that is putting downwards pressure on spending.”

According to the Las Vegas Review-Journal, the median price of a single-family home in the area increased from $430,990 to $450,000 between November 2023 and November 2022. This is a 4.4 percent increase. the price hikes are driven by a combination of inflation and a lack of housing supply.

The construction of new homes has not kept up with demand, in part because of the rising costs of materials and labor shortage. Another factor involves investors who buy up properties, hoping to speculate on them and make money by selling them as the price goes up.

The firm known as Starwood Capital Group purchased homes in Clark County or in the Las Vegas area for a total of $98 million. This purchase was led by Barry Sternlicht, a billionaire who happens to be the United States largest owner of single-family rental homes.

In 2023 Forbes reported that casino patrons are getting increasingly aged, typically being 50 years or older. As casino patrons age out, businesses in the strip will need to find a way to appeal to the younger generations.

This shift is largely due to the changing perceptions of gambling, influenced by the legalization and launch of online sports betting following the overturn of the Professional and Amateur Sports Protection Act (PASPA) in 2018. This legal change has opened the door to a younger demographic, introducing a new perspective on gambling that merges traditional and digital experiences.

This survey also found that Americans aged 50 and older were more likely than adults under 50 to say that legalized sports betting is a bad thing for both society (41% vs. 27%) and sports (38% vs. 29%). This underlines the increasing acceptance and participation in gambling activities, particularly among younger generations. 

These discussions reveal a consensus on the importance of integrating digital innovations to create a seamless gambling experience that caters to the preferences of younger players.

He emphasizes the concept of “Omnichannel” as crucial for blending digital innovations like cashless payments and online rewards programs with traditional casino offerings.

Lycan of SoBet highlights the need for the industry to adjust to the changing consumer behaviors of a less male-dominated and more diverse audience. Creating welcoming spaces that reflect the values of Gen Z and younger Millennials is essential for attracting and retaining this demographic.

According to Monahan, the future of iGaming will place less emphasis on handicapping and more on data. This shift reflects the digital nativity of younger generations, who are accustomed to making decisions based on data and analytics, a trend that is shaping the evolution of the gambling industry.

The adoption of innovative technology in payment methods is not only cost-effective for companies but also provides immediate access to funds, enhancing the customer experience. 

Lycan discusses the importance of providing content in formats familiar to younger audiences, such as creator-led videos and social media-style write-ups. 

Monahan notes the trend of hiring young, passionate individuals who are already engaged in sports betting and gambling. This strategy leverages the enthusiasm and expertise of younger generations to create a more dynamic and engaging gambling experience.

Justice discusses the shift towards mobile and contactless payments, driven by the convenience and efficiency these methods offer. This evolution in payment preferences is expected to continue as the industry moves towards more digital solutions.

Justice shares that focusing on creating robust e-check networks and other payment solutions can significantly improve the patron’s experience by facilitating easier deposits and withdrawals. 

This approach is aimed at creating a diverse and inclusive environment that resonates with the values and preferences of younger players. As the industry evolves, casinos are challenged to adapt to these changes to remain competitive and relevant in the digital age.

Both of these casinos are two of the oldest known on the Strip, and hold key pieces of Las Vegas history. While the Tropicana has been confirmed to be set for implosion, no news has come forth regarding Casino Royale.

After a closure 12 years after the casino opening, the building reopened under the name Casino Royale in 1992, the name people today recognize it by. In 2012 it was purchased by Best Western, making its official name today “The Best Western Plus Casino Royale.”

The outlet has confirmed that Bally’s Corp has reached a deal with the team that runs the Tropicana, and has gotten approval for the build from Vici Properties — the entity that owns the land.

The stadium will allegedly have industry-leading features and enough seating for 30,000-33,000 fans — making it competitive for large-scale sporting events, per MSN.

“We want to make sure the way the seating bowl is designed has the flexibility to accommodate multiple events, and that it’s a really fun place,” he said.

This implosion will remove the rooms permanently, omitting the oldest hotel rooms on the strip. They have been closed since mid-November in preparation for this, per MSN.

This means that the claim of the oldest hotel rooms on the Strip does fairly belong to the Tropicana at this time — and sadly, they will never be used again prior to the implosion.

Plans for subsequent games haven’t been released yet, as they are still over a year away. They will likely make local headlines once released, however, as this transition has been emotional for many regional residents.

“We made sincere efforts to keep our team in Oakland…[I’m] grateful to the fans who have supported our team throughout the years and the home Oakland provided.”