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Park MGM Receives Extensive Renovation, Re-branding in Bid To Draw Younger Demographic

Park MGM Receives Extensive Renovation, Re-branding in Bid To Draw Younger Demographic

NEVADA – Las Vegas has, for decades, has been considered the epicenter of lavish hotel accommodations and casinos emphasizing games of chance and potentially big payouts for lucky competitors. However, in the new era of Vegas, defined now by a steadily rising and recovering real estate market and skyrocketing economy propped up by renewed business interest in the region, some casinos are attempting to cash-in not as much on gamblers, but more on tourists in a more family-friendly version of Las Vegas which has risen from the mid-2000’s housing bubble.

For instance, the former Monte Carlo casino resort – now known as the Park MGM casino resort, located on the famed Vegas strip – is undergoing a large-scale renovation, with the stated goal being to transform the property from what many considered an out-of-date, middle of the road property, to a classy, sophisticated hotel with the trappings of higher-class casino games in a bid to attract a younger demographic. Glitz and glamour will be downplayed in favor of what the developers are referring to as a more “romantic” feel, with décor featuring the roots of trees growing out of ceilings, opulent crystal chandeliers, and priceless works of art by masters such as the famous Pablo Picasso.

Park MGM will still boast a whopping 2,700 rooms, but approximately 290 of those rooms – located on the topmost floors of the hotel – will be turned into NoMad Las Vegas, an upscale series of suites. Gone from the Park MGM are garishly patterned carpets, drapes and bright, pastel colors; in their place are subdued hues, such as reds and greens – and furnishings featuring more artsy character.

The reasoning behind the $450 million re-design, according to the developers, is that modern affluent youth are typically turned off aesthetics they may associate with kitsch or tackiness, and as a result a more cutting-edge, modern design aesthetic is being embraced by the Park to evolve with the times. In addition, younger people have demonstrated less interest in gambling activities and as a result, the Park will be including upgrades featuring more varied entertainment options to appeal to this group.

While gambling will be scaled back in some respects, it will remain as a central attraction to retain the resort’s current, core audience, mostly made up of an older demographic; however, one notable omission from the premises once the facility re-opens after completion of the renovation are slot machines, AKA one-armed bandits.

Park MGM follows in the footsteps of several other high-profile casinos on the strip who have experienced faltering business but have seen a resurgence after successfully renovating and re-branding themselves to accommodate changing times and tastes. The Park MGM will, upon re-opening – have 90 percent of the renovated rooms expected to be open for rental starting in January of 2018. Park will offer rooms starting at $88 a night to lure in younger customers, and the company is counting on the property’s central location on the Las Vegas strip making it a powerful draw for tourists of all ages going forward.

Need real estate assistance in the fast-evolving Vegas market? Thinking of relocating here? Maybe just visiting and poking around? Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

About the Author

Christopher Boyle is an investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher helps keep a keen-eye on what's happening in the Las Vegas Nevada community on behalf of Shelter Realty Inc.