Downtown Las Vegas is a hub of changes. According to the Nevada Gaming Control Board, July gaming recorded a 5.83% increase as compared to last year. Las Vegas has been recording success thanks to a 777-room hotel-casino projected to be opened next year, a new hotel tower being set up by Downtown Grand, Circa, and Fremont Street upgrades.
The growth carries major effect for Las Vegas which boasts of its major revenue from the casinos. Circa developer and owner of Golden Gate and D Las Vegas, Derek Stevens notes more activity in the city as compared to the past three years.
For Patrick Hughes, president and CEO of Fremont Street Experience, whose office sits above the crowd in a prime watching spot, notes that there are more people majorly due improved attractions like casino owners putting an effort to maintain a value proposition. He notes that there is more to people visiting than the city’s affordability.
According to him, there is more digital advertising especially from his brand where word on events is spread bringing up more people in a year and notes the restaurants, bars, and clubs on the east of his property attracts more young people.
Patrick has much praise for Tony Hsieh, Zappos CEO, who he says his vision of building a community with random interactions and connections is being achieved.
The CEO also notes that younger people are not afraid to spend for experience and are attracted to venues such as Neon Museum and Mob Museum which are both educational and historical.
By 2018, 46% of Las Vegas visitors had visited downtown which was about 10% increase from 2014 and for Jeremy Aguero, Las Vegas-based Applied Analysis principal analyst, he references this to the new investments (Restaurants and clubs) that have brought the visitors new energy and way in downtown.
‘Enriching the quality of life’
In the $15 million Plaza renovation project event where 100 plus rooms and suites were upgraded, Carolyn Goodman, Las Vegas Mayor, lauded the improvements in downtown as ones that were enriching the ‘quality of life and making it exciting.’
Hughes says that downtown has the affordability of middle-class Americans where as opposed to the $100 dinners on the Strip, they can enjoy an $8.99 steak.
He also notes that downtown has become a gambling hub for young people and visitors. Jossel echoed the same sentiments noting that there was interest in table and slots gambling for downtown customers. The area has improved majorly from the casino revenue and Jossel expects the revenue that has grown in double-digits to keep soaring high as long as they focus on ‘what they do well’
More growth targeted
For Fremont Street Experience Canopy that was established in 1995 with a vision of improving downtown’s investments and visitation, Hughes claims that at almost 15 years down the line, the task has not yet been completed but he acknowledges the growth of the area in the last few years. He, however, expects more growth such as condos, single-family residences, and high rises to b put up.
Aguero pointed challenges such as homelessness and that the area had to meet its full potential alluding to a plan of building a Major League Soccer stadium.
For Stevens, he remains optimistic on the future downtown and Las Vegas holds. He cites big transformational projects such as the MSG Sphere, the Convention Center, Circa, Resorts World, and the Raiders Stadium as pointers to Las Vegs revitalization.
Hughes, however, does not expect a smooth ride in the growth process. He expects dips, waves, and swings along the way but appreciates the positive status of the area at the moment.