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Las Vegas Business Press
Friday, November 21, 2008
Rolling Stone not gathering much moss

By Ian Mylchreest
February 6, 2006

Enough already! The rumor and speculation from this gossip in the New York Observer has gotten way out of hand. The piece itself suggests that there are very few parcels along the Harmon corridor that aren’t already spoken for.

And then last Friday, the Review-Journal cited an unnamed realtor who said the deal was being worked out with the owners of the old Alexis Park Hotel.

As LA Times blogger Richard Abowitz points out, the deal makes no sense because the Hard Rock, a pretty-well established brand in the hip and cool casino space, is right across the street.

And is Rolling Stone much of a brand for Vegas anyway? Hooters seems at least worth trying, although plenty of people are giggling at its PG ambience in the town where what happens here stays here. surely, you could almost tell your mom you stayed at Hooters.

Some business questions: Do the remnants of the counter culture and Rolling Stone’s rock intellectuals constitute much of a market? And with Mandalay Beach, the Hard Rock, the MGM Garden, the House of Blues and the ever-popular Thomas & Mack, are we really hurting for concert venues.

And what about the poor owners of the Alexis Park? Common business sense would say they’ll sit on their hands until they get a good offer for redevelopment and Rolling Stone certainly isn’t that.

Gossip is fun but it’s got to be a little bit plausible, doesn’t it?





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