Las Vegas Little Black Book Blog
Expect the Playboy Club to be tough to get into 
10/8/06, 3:09 AM
The long awaited Playboy Club opens today on the top of the Palm's new Fantasy Tower. The Playboy club is a mix between an ultralounge and a small casino. It will be "more intimate, more exclusive" than the traditional night time venue. It will prove to be very successful and it is a great addition to Las Vegas.

But for a group of guys, the Playboy Club will be as hard to get into as a top nightclub. Expect to fight your way to the front of the line and expect to have to tip the door man to get in.

Give it a couple of months, and try to hit it midweek for your best chance of making through the door. Also, be sure to dress to impress. An easier way to make it in is to dine at Nove, the new italian resturant, and then head to the club from there.

Click Here for the Article from the LVRJ

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What is the real reason that Harrahs pulled out of Singapore? 
10/7/06, 2:58 AM
Harrah's accounced today that it is pulling out their bid for Singapore. Las Vegas Sands (Venetian) won the first casino project, Harrah's and four other lesser know companies were up the second bid. All design concepts were to be submitted by October 10.

According to the Taipei Times, all bids must be "feng shui", irregular or sharp angles should be avoided, and a round, semi-circle or an ellipse design will probably win the 2nd casino bid.

The Las Vegas Sands is planning on building a $3.2 billion dollar complex. A design with three slanting hotel towers overlooking three low-rise waterfront domes and roofs resembling waves.

The Taipei Times also stated that a pavilion or memorial, from WWII regarding a massacre from the Japanese occuption, should be erected, or a multi-religious service held, before construction starts to avert accidents, suicides or a loss-making venture.

As you can see, the culture in Singapore is much much different than what American companies are used to. With the scope of this project and the different culture, was Harrah's in over their heads?

Consider This
Could it be possible that Harrah's knew that their design concept was not going to win? Maybe the takeover bid was just an excuse to pull out while saving face. If they lost the bid straight out, it would be a huge blow to any thoughts of big international developments. No casinos in the two huge markets of Macau and Signapore?

If the submittal was Oct 10, then the bid already had to be completed. Why not just submit the bid? If you do win it a couple months down the road and you can't move forward, then pull out. It is not like Harrah's needs to appease the Signapore government, this is a one shot deal.

To me, using the takeover bid as a excuse is an easy way out.

Click Here for more about the Singapore pullout from the AP

If Harrah's dosn't take the buyout offer, what will it do?

Geoffrey Davis, an analyst with Citigroup, said in a Monday client note that if Harrah's doesn't take a buyout, it could make an attempt to reduce capex and repurchase its stock as a public company. In a scenario of debt-to-EBITDA of 5.5 times, the company could buy back 60 million to 65 million shares, raising its 2008 earnings per share estimate to $5.13 from $4.74.

Click Here for the Story from the AP
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Crazy Horse will probably open again soon 
10/6/06, 5:17 AM
But will it be too late?

As each day goes by, the club loses its brand as customers, who don't know its closed, go there and find a dark building. Taxi driver are talking down the club, using it as another reason to sway people to Sheri's Caberet or Diamonds. (If you are new to this blog, don't ever go to Sheri's or Diamonds, better yet, don't ever listen to the advice of a Vegas taxi driver).

But more importantly, Crazy Horse Too is a club that has a large group of "regular" dancers. Year after year, the same girls work there and many customers keep going back to revisit their favorite ones. But as each day goes by, these dancers are getting more comfortable working at other clubs.

So, if the Horse re-opens, how many of the regular girls are going to make there way back? There are two new clubs opening in the upcoming weeks: Minxx and The Men's Club. If Crazy Horse does not open in a month, their best dancers will be working elsewhere.

Click Here for an update on the Crazy Horse drama (from the LVRJ)
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Scores Las Vegas: Now 24 Hours 
10/5/06, 7:22 AM
The #1 gentlemen's club since it open last year. The club is now open 24 hours a day.

What does this mean for you? It means an excellent place to watch college and pro football games on Saturday and Sunday. The sportsbooks gets filled quickly. Most of them have less than adequate tvs. Scores has tons of plasmas and three large digital projection screens. They show all the games.
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Blue Horseshoe Loves Harrahs Entertainment 
10/4/06, 7:01 AM
Quoting one of the best "guy's" movies of all time, "Wall Street". In other words, Harrah's Entertainment is in play. Expect a bidding war to unfold in the near future.

At least that is the speculation from Reuters and industry analysts. With a valuation at $85 to $90 per share, it is expected to see additional private offers.

According to the article, it is going to take a good 12 to 16 months for any deal to go through. With all the regulatory hurdles in so many different jurisdictions, it may take longer.

Harrah's is already reviewing its Singapore Project - it may pull out now. I would also say that there will be no closing (and implosions) of any casinos until the deal is finalized. So, that means that you can enjoy the Imperial Palace and the Barbary Coast for at least another year.

Click Here for the Story from Reuters
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Barbary Coast: How Long Until Its Gone 
10/3/06, 7:40 PM
The deal for the Barbary Coast is so over due. For how long has everyone talked about the value of the Barbary Coast land and how much it means to Harrah's (or Caesar's, or Park Place, or Hilton or whoever used to own the Flamingo).

Looking at the land that Boyd will aquire from Harrah's, it makes you think...why didn't Boyd make a play for the land before Harrah's snatching it up?

Back to the Barbary. Every expects Harrah's to blow it up to build Harrahs America. I think it will be around longer than anyone thinks. But, it will eventually come down.

What I will miss about The Barbary Coast:
- The low table minimums
- No automatic shufflers
- Big Elvis
- The somewhat secret parking garage
- The view from the top of the building
- The ease of getting in and out of the casino
- The $1 You Call It Drink Specials
- The Flashing Neon Sign

What I won't miss about the Barbart Coast:
- The smoke
- The dirt
- The small dirty glasses used to serve drinks
- The overhype of Drai's afterhours
- The line to get a seat at the coffee shop
- The old lady with an oxygen tank smoking a cigarette (fire and oxygen don't mix very well, kaboom)

Click Here for the Story from the LVRJ

In related news, the $81 per share offer of Harrahs is considered too low, according to industry analysts. $85 per share is more likely.

Click Here for the Full Story About the Harrah's Buyout from the LVRJ
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Harrahs Buyout Offer 
10/3/06, 5:42 AM
For those of you that loves casinos, here is the latest story about today's private buyout of Harrahs. It will take a little while to figure out how this is going to change the gaming industry, but it will be instrumental.

Also, Harrah's made a land swap for the Barbary Coast Casino.

Click here for the Story from the LVRJ

There is speculation on Wall Street that the shareholders won't go through with the bid. Interesting view point from the Motley Fool.

Click Here for the Story from the Motley Fool
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Monorail: Why is everyone so critical? 
10/2/06, 4:04 AM
Good story from the LV Review Journal about the monorail. This is a private project, buts it gets such big public criticism for a waste of public money. The irony.

Las Vegas is a better place because of the monorail. It might not be the end-all-be-all solution to traffic problems, but at least it helps.

I took the monorail from the MGM to Harrah's on Friday night at 9pm. It was packed and people loved it. Beats walking and sure beats waiting in a taxi line for 20 mins to deal with a disgruntled taxi driver trying to bring you to a shady strip club.

So don't hesitate to take the monorail and talk it up when you do. Las Vegas needs private funded projects to help with traffic.

Click Here for the Full Story from the LVRJ
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Project Neon Lights: A Downtown Catalyst or Another Dream 
9/30/06, 2:45 AM
Do you think it has a chance?

Dubbed the Las Vegas Downtown version of the Project City Center, Project Neon Lights is a plan to take 70 acres of downtown property and package it for a major developer. The 70 acres is owned by 50 different owners. The two guys that set it up and looking to cash in.

While this property is technically in "Downtown Vegas", the property is more of an extension of the Strip. It is closer to Stratosphere than it is to Freemont Street.

This area of town is a dump, if you ever got lost behind the Stratosphere, you probably know what I mean. Any development in this area would be a big improvement.

While it seems unlikely that Project Neon Lights is going to happen, if it does, it would change the entire dynamics of the area.

Click Here for the Full Story from the LVRJ
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Driving from Arizona - Avoid Hoover Dam 
9/27/06, 6:53 PM
Just in case you don't know, if you are trying to set a land spped record from Pheonix to Las Vegas, you will be delayed by the traffic at the Hoover Dam.

A week ago, heavy winds knocked down a contruction crane. The Dam was closed for four days, now it is down to just one lane.

Detour from Kingman to Laughlin. Adds another 23 miles to the trip, but it will be a faster route, unless you are driving in the middle of the night.

Click Here for the Story from the LVRJ
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