Everything you can do, I can do better.
That seems to be the mantra guiding MGM Resorts International (MGM) and Caesars Entertainment (CZR) as they do battle on the Las Vegas Strip. If Caesars brings in Adele, MGM adds Usher. It's the same when it comes to restaurants owned by celebrity chefs, new shows and experiences, pools, day clubs, nightclubs, and pretty much any other sort of activity offered.
Caesars and MGM have other competitors of course, but these two Las Vegas Strip titans have their properties clustered together on the Central and South Strip. A visitor going to a convention at the Venetian's Sands Expo Center or attending a Las Vegas Golden Knights game or a UFC event at T-Mobile Arena could easily stay at a variety of Caesars or MGM properties and be close to their event.
That's why you can never look at a move made by one company and not consider its impact on the other. Caesars and MGM may not be reacting to each other's moves when they make decisions on a micro level, but on a bigger scale, what one does impacts the other.
Now, with Caesars giving its Bally's Resort and Casino a major overhaul and rebranding under the Horseshoe name, MGM also has big plans for one of its Las Vegas Strip properties.
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Caesars and MGM Both Make Major Changes
You could argue that Caesars may have decided to remodel Ballys because MGM bought the Cosmopolitan, giving it a hip, gambler-focused property in the heart of the Strip. The Cosmo, as it's sometimes known, mixes old Vegas and new Vegas into a contemporary property that feels upscale but is actually closer to mid-tier.
Horseshoe, a name with a long Las Vegas association that has never appeared on the Strip, has a bit of that with its focus on being gambler-friendly, albeit in more of an old Vegas way.
"Started by a gambler for gamblers, at its heart, Horseshoe is about making a gaming experience that is right for the gambler. Over the years, as the brand expanded to markets across the country, Horseshoe has stayed true to its heritage, holding on to the thrilling spirit of no-limit betting," the company shared.
Caesars has not offered a lot of details about the changes, but the sportsbook restaurant will be a new concept from Guy Fieri, and the property will have a large all-ages arcade.
MGM Remodeling a Key Property
While MGM won't be doing anything as bold as selling the Mirage and buying the Cosmpolitan, it will be making a major change at one of its signature Las Vegas Strip properties. The company has already begun work on what used to be called the "West Wing" at MGM Grand, which will now be known as the "Studio Tower."
The company plans to renovate the 700-room tower, to make it sort of a hotel-within-a-hotel.
The company said the new look would reflect "a retro desert feel with mid-century modern design and décor aesthetic." MGM called the newly redesigned tower "a refreshing respite just steps away from the energy and excitement of one of Las Vegas's premier hotels," MGM shared in a press release.
Like Caesars' efforts with Horseshoe, there are some nods to Las Vegas's past here in the project that has been designed by Los Angeles-based Avenue Design.
“We envisioned bringing a bit of nostalgia to MGM Grand that reinvents the past while incorporating a modernized version of mid-century Palm Springs,” said Avenue Design's Co-Founder Ashley Manhan Justman. “We designed an exclusive retreat with a stylish color palette, contemporary furniture, and geometric wall coverings to bring to life a retro-chic vacation revival.”
MGM Grand's Studio Tower will also get a renovated lobby complete with neon signs and curvy sofas along with corridors featuring dimensional wall coverings and ombre carpet.
“We wanted to make a fresh statement with our new Studio Tower rooms by creating a relaxing atmosphere that appeals to not only leisure travelers here on vacation, but also our business travelers looking for a refreshing reprieve after a long day of meetings," MGM Grand COO Michael Neubecker said. "With this remodel, we found innovative ways to enlarge spaces and upgrade amenities while adding modern conveniences so our guests can truly enjoy a comfortable sanctuary during their stay.”
