Rumors Suggest Iconic Bellagio Fountains Could Close
Posted on: May 25, 2017, 02:00h.
Last updated on: May 25, 2017, 04:17h.
Rumors suggest the famous Bellagio Fountains may be set to make way for something new, but MGM Resorts has denied the iconic water feature will close.
On May 22, the Las Vegas Review-Journal cited a “source” that suggested the future of the famous fountains has been discussed by executives at MGM Resorts.
Built by Steve Wynn and costing around $50 million, the fountains entertain tourists with a light and water show unlike any other.
Icon Doesn’t Generate Any Revenue
However, according to the Review-Journal’s unnamed source, executives believe the real-estate would be worth more if it was in a different state. As it stands, the Bellagio Fountains don’t generate any direct revenue for the hotel and casino.
Despite being a draw for thousands of tourists that eventually head into the venue and spend some dollars, the rumor is that, this isn’t enough. In fact, some now believe that the attraction will be replaced for something that actually brings in some cash.
In light of the recent rumors, MGM Resorts issued a statement explaining that it doesn’t have any “plans” or “intention” to “eliminate” one of the most recognizable landmarks in Vegas, moreover, the world.
Review-Journal writer Robin Leach has pointed out that the statement doesn’t directly deny that discussions have taken place. Removing the Bellagio Fountains would certainly be a bold move, but change is something Vegas has become used to in recent years.
Another Vegas Poker Room Bites the Dust
At the same time people have been speculating over the future of the Bellagio’s asset, the Luxor has informed employees that its poker room will be closing in June.
In a note sent out to members of staff on May 19, MGM officials confirmed that the nine-table poker room would deal its land hand on June 18.
The loss of another Vegas poker room takes the strip’s overall total down to 18. The closure of the Luxor’s room comes at a time when poker revenue across the state appears to be slipping. Back in March 2017, Nevada earnings were down 1.3 percent to $6.1 million.
Although strip poker room revenue between April 2016 and April 2017 ($77.6 million) was virtually unchanged from the previous accounting period, the overall feeling is that the game is failing to grow revenue.
As the rumors regarding the Bellagio Fountains suggest, casino operators aren’t afraid to make significant changes if a product isn’t performing well.
Indeed, with Vegas still trying to recover from its economic crash of 2008, change appears to be on the agenda more than ever.
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