A new theme park for Las Vegas?
Published: August 14, 2007 at 9:09 PM
Sometimes, Las Vegas makes my head hurt.
And not in a good, "I can't believe I'm up this much, what are they pumping into the air in this casino, and wow, I wish I made as much cash as that chick's plastic surgeon must be raking in" way.
Consider Arthur Levine's lastest over at About.com: Dry Fun on Tap for Las Vegas Wet Mega-Resort
The details previously announced for the Las Vegas Wet resort under development in the glitz capital of the world were already mind boggling: a 350,000-square-foot indoor water park (which will make it the largest in North America and the second largest in the world), a 23-acre outdoor water park, 1400 themed hotel rooms, two entertainment/restaurant/nightclub areas, a sports and entertainment arena, a casino, the world's largest parking structure and, improbably, an indoor snow dome... with year-round Alpine skiing and snowboarding. The developers aren't finished yet, however. ...But the huge news, according to Las Vegas Wet CEO, Steven Dooner, is that the property will also feature a 65-acre "internationally branded" theme park.
Wow, I need an aspirin after reading those plans. How about you?
Granted, the Vegas residential real estate market is crashing, and with credit drying up around the world faster than my skin in the Las Vegas heat, count me as skeptical that this project will come off as hyped. (The indoor water park, however, ought to be a slam dunk.)
Published: August 14, 2007 at 11:26 PM
I don't know if every aspect of the plan will ever be realized (the snow dome seems particularly suspect) but much of it is pretty standard fare for the new hotels. The credit markets will gladly fund a hotel/casino if the cash flow projections look solid and the restaurants, nightclubs, etc. are all part of the standard package.
As for the theme park, there are so few details that it's impossible to predict the likelihood of what will happen. Will this "internationally branded" park be paid for by one of the big companies like Busch or Universal (or whoever the internationally known company might be)? Or is this going to be some sort of licensing deal to tack a brand name on something that the hotel builds? If the latter, then memories of the MGM Grand "theme park" rise uncomfortably to the surface. What a fiasco that was! I suppose someone like Cedar Fair could step up and build a park, but I have that's just idle speculation on my part. Without the resort giving more than vague hype.
Overall, I guess I agree with you Robert. I can see a lot of this project coming together but am not convinced that all of it will be developed. I would also be concerned that some of the more ambitious aspects could be closed within a year or two even if they are built.
Published: August 15, 2007 at 8:52 AM
A 63 acre park seems kind of small. I was at Valleyfair recently and that park is 90 acres and I thought that seemed cramped with the number of rides they had crammed in. I can't imagine a park that is only 2/3 the size being decent.
Published: August 15, 2007 at 11:30 AM
If it all comes true, and I mean ALL of it...sign me up!!! Sounds like an awesome plan, vague, yet interesting. Loving the indoor water park idea, cause the last place I want to be in Vegas is outside. I'll pass on the outdoor water park, i really dont want to get fried. Besides, I got BB/TL here to keep me busy. Overall it should be a major income boost to the city. Lots of luck to them.
Published: August 15, 2007 at 6:00 PM
However, didn't they learn from MGM Grand? Granted MGM didn't put all their effort into it at the end, but still. I would assume that they have the market
Published: August 16, 2007 at 4:28 PM
They need to scrap the "theme park" and stick with the water park.
It costs a heck of a lot less to build and operate a waterpark than it does a theme park.
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