ZZZ - GMG - VEGAS INC 2011-2014

VEGAS INC C OV E R STO RY YEAR IN REVIEW, From page 1 DEVELOPERS SINk and swim, water parks meet very different fates VEGAS INC FILE RISING TIDE: Guests ride the Rattler during the first day of general admission at the $50 million Wet 'n' Wild water park in Summerlin. Wet 'n' Wild steve marcus UP NExT: Rob Oseland, president of the SLS, poses at the under-construction resort, which formerly was the Sahara. North end of the Strip Since the closing of the Stardust and Sahara, the north end of the Strip has been a sore spot for the city. But two major resort projects promise to breath life back into the corridor. The SLS, the $415 million, 1,600-room resort on the grounds of the former Sahara, is considered a key factor in the recovery of the Strip's struggling north end. It is being developed by SBE Entertainment CEO Sam Nazarian, with a scheduled opening next year. Across the street, at the site of the former Stardust and failed Echelon, Asian gaming giant the Genting Group plans to roll out a 3,500-room, Chinese-themed resort with a 175,000-square-foot casino. Resorts World Las Vegas is slated to open in 2016 and could be the Strip's biggest energizer in years. Boyd Gaming sold Genting the 87-acre site for $350 million, giving up its foothold on the Strip.    Sheldon Adelson 2013 was a great year for casino magnate Sheldon Adelson.   His Las Vegas Sands shattered revenue records, making $3.57 billion during the third quarter, an increase of more than 30 percent from the previous year. Adelson raked in truckloads of dough from his Macau properties – more than $784 million, an almost 61 percent year-over-year increase. associated press By comparison, his Las Vegas properties TOP DOG: Las Vegas Sands Chairman and CEO Sheldon saw a revenue increase of 2.9 percent to $375 Adelson. million.  Strapped with even more cash and confidence, Adelson returned to the political sphere, starting a controversial campaign against Internet gambling. He pledged to invest as many resources as possible to stop the spread of online gaming, which he called a "societal train wreck."   Public campaigns are nothing new for Adelson. The political super-donor pumped more than $100 million into the Republican party's 2012 election efforts.  14 20131223_VI01_F.indd 14 In the war of water parks, Wet 'n' Wild emerged the winner. The 41-acre water park in southwest Las Vegas was mobbed with fans when it opened Memorial Day weekend and maintained its popularity throughout the season. Owners hired more than 400 people to serve the crowds. The $50 million park, developed by Village Roadshow Ltd., features 25 slides, a wave pool and lazy river. Its competitors across town didn't fare as well. Construction crews building the $23-million Cowabunga Bay in Henderson hit a vein of caliche 15 feet underground, delaying the park's opening by a year. Developers also had trouble importing a custom slide from overseas. In August, they sold the property at a 50 percent discount to a developer from Utah. General Manager Shane Huish said it still would open in April. Plans for Cowabunga Bay call for a wave pool, lazy river and several clusters of slides with a '60s beach theme. Parks and plazas The Strip's two biggest casino companies are capitalizing on a new trend for Las Vegas Boulevard: pushing customers off the casino floor and into the great outdoors. MGM Resorts International is investing $100 million to transform land between New York-New York and the Monte Carlo into an outdoor plaza and mall with a park, shops and restaurants. Caesars Entertainment is busy building its $550 million Linq development between the Quad and the Flamingo. Anchored by the High Roller, the world's tallest observation wheel, the Linq also will feature shops, restaurants and entertainment. Both projects point to a growing trend of offering customers options outside the casinos. "Today's customer wants to be out in the open and wants to be independent," MGM Resorts CEO Jim Murren said in June. "They don't want to be told what to do. They don't want to be captured and trapped in any kind of resort." There's science to back up the companies' decisions. UNLV mathematician Tony Lucas found in 2003 that slot players felt more satisfied in areas that were easier to navigate. | 23 DECEMBER 2013 | 12/19/13 3:09:42 PM DREAMS

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