Two Way Hard Three | Las Vegas Casino & Design Blog
March 12, 2009
Cannery Kingless? Crown May Be Going Home
Posted by HunterAccording to the Las Vegas Sun, Australia's Crown Resorts is canceling their purchase of Las Vegas based Cannery Resorts:
http://www.lasvegassun.com/news/2009/mar/12/australian-company-ends-cannery-purchase-agreement/
The article references licensing requirements in the Commonwealth of Pennsylvania as a potential source of trouble.
Now, the deal isn't 100% dead - Crown has the option to consummate a deal with Cannery down the line, though it's far from certain now.
[Thanks to reader Mark D. for catching this one so quickly.]
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- Matt K recently commented "By coincidence I stayed at the Eastside Cannery for the last two nights. It..." in Cannery Kingless? Crown May Be Going Home
- Hunter recently commented "Little more from the RJ: <a href="http://www.lvrj.com/business/41196522.ht..." in Cannery Kingless? Crown May Be Going Home
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Comments
Little more from the RJ:
http://www.lvrj.com/business/41196522.html
By coincidence I stayed at the Eastside Cannery for the last two nights. It's a great looking locals property but it's clear it's having trouble. (The fact that they're giving ME free rooms is one danger sign). The steakhouse and mexican restaurants have reduced hours. The keno room is gone. The buffet/not-a-buffet is closed for (another) repurposing.
They have a rooftop lounge called One Six which by Boulder Strip standards is very attractive. But I had to laugh when I saw all the empty "reserved" tables, and bottle service menus that ringed the room. I'm not sure what universe they think they're in.
My take is that whoever ends up owning this and the other Cannery properties will have to deal with really intense locals competition with no end in sight. Maybe Crown is better off walking.