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- 🎰 Mirage Closure Leads to Liquidation Sale of Hotel Furnishings
🎰 Mirage Closure Leads to Liquidation Sale of Hotel Furnishings
Issue #191 - June 15, 2024
John Wu
15 Jun
Dear SummerSouth Insiders!
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📆 Weekly Local Events for June 2024
Regular weekly events in or near Summerlin, Las Vegas are listed below.
Visit here to lookup specific venue information or for upcoming and/or non-weekly events on Meetup.
Monday
Monday Classes At Latin Blendz: (Every week on Monday @ 10AM)
Socially Vegas - Monday Night Bowling @ The Orleans Bowling Center: Must arrive/check-in before 7pm; 7 - 10pm (Every week on Monday); COST (CASH Only) $10 for 2 games (includes shoes) COST: $12 for 3 games (includes shoes)
Monday Night TRIVIA at ReBAR, 1225 S Main St, Las Vegas: (Every week on Monday @ 7PM)
Tuesday
Terrific Tuesday Fun Pickleball @ Police Memorial, Bring a Chair: (Every week on Tuesday @ 2PM)
Sand Volleyball Intermediate, Rusty and Old Time Players @ Aloha Shores Park (NW), Cheyenne & Buffalo, 7550 Sauer St, Las Vegas: (Every week on Tuesday @ 6 - 8 PM)
Run Drink Las Vegas - Weekly Tuesday Run @ Frankie’s Uptown patio: 6:30 - 8:30 PM (Every week on Tuesday), FOLLOW US ON INSTAGRAM @rundrinklv FOR THE LATEST WEATHER/TIMING UPDATES
Coed Soccer - Summerlin: Crossings Park, 1111 Crestdale Ln, Las Vegas: 7:30 - 9:45 PM (Every week on Tuesday/Thursday)
Wednesday
Business Leads Group - Networking Breakfast @ Summit Restaurant, Eagle Crest Golf Course, 2215 Thomas W Ryan Blvd, Las Vegas: Cost $20 cash, 7 - 8:30 AM (Every week on Wednesday)
Early Risers Toastmasters Meeting (In-Person - Summerlin Egg Works / Online Event: 7 - 8 AM (Every week on Wednesday)
Las Vegas Valley Bicycle Club - Wednesday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Wednesday)
Speakers & Leaders of Summerlin Toastmasters Meeting, Summerlin Egg Works, 2025 Village Center Cir, Las Vegas: 12 - 1:30 PM (Every week on Wednesday)
Live Music Yoga w/ Cheryl Slader @ Blue Sky Yoga: (Suggested Donation $12); 5:30 - 6:45 PM (Every week on Wednesday)
Country Crossroads Dance, Rhythms Dance Studio & Event Center, 4545 W Sahara Ave, Las Vegas: $15 Drop-in Rate / $50 for the whole month: 8 - 9 PM (Every week on Wednesday)
Thursday
Abundance Business Networking Group Online Event: 7 - 8:30 AM (Every week on Thursday). Please arrive 10-15 minutes early for networking. Steps to access our BNI Online™ Virtual Chapter Meeting, visit website.
Las Vegas Real Estate Investors Association - Weekly Power Lunch For Real Estate Investors: 11 AM - 1 PM (Every week on Thursday). Request to join here.
Free Salsa Classes @ Feel The Music Dance Studio: 7 - 8 PM (Every week on Thursday). Visit the website to register online.
Summerlin Bitcoin Happy Hour, SG Bar, 9580 W Flamingo Rd, Las Vegas: 6:30 PM (Every week on Thursday)
Coed Soccer - Summerlin: Crossings Park, 1111 Crestdale Ln, Las Vegas: 7:30 - 9:45 PM (Every week on Tuesday/Thursday)
Friday
Find Your Yoga Las Vegas - Flow & Yin W / Noé Hilyard @ Yoga Sanctuary: 6 - 7:15 PM (Every week on Friday) View Yoga Sanctuary's full schedule.
Swing Dancing in Las Vegas Vintage and Modern Swing Dances @ The Mint Tavern: 7:30 - 8:30 PM (Every week on Friday)
Saturday
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Find Your Yoga Las Vegas - Saturday Morning Meditation with Practitioner Selina Kelly @ Yoga Kandy, LLC. Cost: Love Donation $5-$10 suggested. 11 - 11:45 AM (Every week on Saturday)
Sunday
Las Vegas Valley Bicycle Club - Sunday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Sunday)
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Level 1 West Coast Swing @ 2580 N Rancho Dr, North Las Vegas: 7 - 8 PM (Every week on Tuesday); Drop in Rate is $15, Monthly pass is $50; Register online.
🌤 Summerlin South, Las Vegas 10-Day Weather Forecast
⛽ Las Vegas Gas Prices
🎰 Mirage Closure Leads to Liquidation Sale of Hotel Furnishings
Proximity Capital, a Las Vegas-based investment and liquidation firm, has initiated preparations to clear furniture and furnishings from 3,028 hotel rooms and suites at The Mirage. The property is set to close on July 17 for a comprehensive renovation. A website was briefly launched to promote the sale but was taken down late Friday afternoon. Proximity Capital has not responded to calls for comment.
Hard Rock International’s Plans
Hard Rock International, which acquired The Mirage in 2022, plans to transform the 34-year-old hotel-casino into Hard Rock Las Vegas over the next three years. While Hard Rock officials have not confirmed a public liquidation sale for the hotel's items, they mentioned that the concept is still under consideration.
In the interim, Hard Rock has started a closeout sale for wine bottles across several restaurant and retail outlets within the property, including Essentials, Heritage, Costa, Diablo’s, Otoro, California Pizza Kitchen, and Pantry.
Major Renovation Details
The Mirage, originally developed by Steve Wynn and a cornerstone in the development of megaresorts on the Strip, is slated for extensive renovations. Hard Rock plans to build a 660-foot tall, all-suite hotel tower shaped like a guitar, in addition to making significant changes to the main building. This transformation aims to introduce a new era for the iconic property, enhancing its appeal with modern amenities and attractions.
Context and Comparisons
The Mirage's liquidation follows a similar event earlier this year when liquidators cleared the Tropicana, a historic Rat Pack-era property. The Tropicana is being demolished to make way for the Oakland Athletics' new $1.5 billion, 33,000-seat ballpark. International Content Liquidation Inc. managed several public and private sales during the Tropicana's closure.
The renovations and transformations of these iconic Las Vegas properties reflect the ongoing evolution of the Strip, ensuring that it remains a premier destination for entertainment and hospitality.
🥒🎾 Las Vegas Welcomes Inaugural PPA Pickleball Cup at Fontainebleau
Fontainebleau Las Vegas will host the Strip's first Professional Pickleball Association (PPA) tournament, running from August 27 through September 1. This event marks an exclusive partnership with the Carvana PPA Tour, bringing one of America’s fastest-growing sports to the heart of the entertainment capital.
“We are thrilled to be the exclusive home to the PPA Tour Las Vegas Pickleball Cup, the first of its kind on the Strip,” said Fedor Banuchi, Fontainebleau’s senior vice president of entertainment. “We pride ourselves on being industry leaders in the live event, sporting and entertainment space. Hosting one of the fastest-growing sports in the world is an honor. We can’t wait to welcome guests for an exhilarating week of luxury and sportsmanship.”
The tournament will be held in the 105,000 square-foot Royal Ballroom, featuring a pillarless design perfect for the event. Alongside the professional matches, a 1,000-person amateur event will also take place.
“The Carvana PPA Tour continues to offer the most spectacular events for fans and participants of pickleball,” said Connor Pardoe, PPA Tour Founder and CEO. “The Las Vegas Pickleball Cup at the Fontainebleau will raise the bar. Pros, amateurs, and fans will experience the most luxurious resort on the Strip and compete on the grandest stage the sport has to offer.”
Registration costs $95 with a $40 event fee per entry for players, while spectator tickets are available online for $25. The resort offers special rates for attendees.
Fontainebleau, a luxurious 67-story property, opened in December. It is developed by the owners of its sister property on Miami Beach.
Other stops on the PPA Tour include Washington, D.C.; Orange County, California; and Salt Lake City, Utah. The tour returns to Las Vegas for the Guaranteed Rate Las Vegas Open from October 10-13 at Darling Tennis Center.
Nevada Copper is laying off 117 workers at its Pumpkin Hollow underground mine in Yerington, Nevada. The Vancouver, Canada-based company filed a notice with the state of Nevada, indicating that these layoffs will be permanent and are set to begin on August 9.
Bankruptcy Filing and Financial Struggles
These layoffs come on the heels of Nevada Copper's recent Chapter 11 bankruptcy protection filing in the Bankruptcy Court of the District of Nevada. The company has struggled to secure necessary funding from key stakeholders, a critical factor in its decision to file for bankruptcy. This financial instability has left Nevada Copper unable to sustain its business operations as usual.
In a news release, Nevada Copper highlighted the significant challenges it faced in obtaining the required financial support, which ultimately led to the decision to reduce its workforce and restructure its financial commitments. The company's inability to secure adequate funding has been a primary driver behind its decision to seek bankruptcy protection and implement these layoffs.
Impact on Workers and Community
The 117 workers affected by these layoffs are not represented by a union, which can often complicate negotiations and support for displaced workers. The loss of these jobs is expected to have a significant impact on the local economy in Yerington, a community that relies heavily on the employment and economic activity generated by the mine.
Efforts to Support Employees During Restructuring
Despite the layoffs, Nevada Copper is actively seeking the court's permission to continue paying employee salaries during the restructuring period. This effort is part of a broader strategy to maintain some level of stability and support for its remaining workforce while navigating the bankruptcy process.
The company has also announced that it has secured a commitment for $60 million in debtor-in-possession (DIP) financing. This funding is intended to provide the necessary liquidity to sustain the company's operations during the restructuring period. Nevada Copper emphasized that, although it is undergoing significant financial restructuring, it does not plan to close its operations permanently. Instead, the company aims to emerge from bankruptcy as a more financially stable entity, capable of resuming full operations in the future.
Future Prospects
The future of the Pumpkin Hollow mine and its workforce will largely depend on the outcomes of the bankruptcy proceedings and the company's ability to restructure its debts and secure new funding sources. Nevada Copper remains committed to finding a viable path forward that will allow it to continue its mining operations and eventually rehire workers.
The layoffs at Pumpkin Hollow are a stark reminder of the challenges faced by many companies in the mining sector, where fluctuating commodity prices, high operational costs, and the need for substantial capital investment can create a precarious financial situation.
As Nevada Copper navigates this difficult period, the company's management is focused on balancing the immediate need to cut costs and stabilize finances with the long-term goal of resuming full operations and providing employment opportunities in the Yerington community.
🎶 Lil Wayne Takes Over the Strip with Dual Residencies at Zouk and Drai’s
Lil Wayne, the five-time Grammy winner and frequent Las Vegas headliner, is embarking on a groundbreaking residency at two major nightclubs on the Strip: Zouk Nightclub at Resorts World and Drai’s Beachclub and Nightclub at The Cromwell. This unique arrangement marks the first shared residency for the two clubs.
Wayne's residency kicks off with performances on June 29 at Drai’s Nightclub and on July 12 at Zouk Nightclub. Fans can find additional dates and ticket information on the clubs' official websites: zoukgrouplv.com and draisgroup.com/las-vegas.
A Unique Partnership
While Wayne’s dual-residency is a first for Zouk and Drai’s, the concept of cross-club residencies is not new to the Strip. For instance, Tiesto is partnered with both LIV Nightclub and LIV Beach at Fontainebleau, as well as Tao Group Hospitality venues including Omnia, Tao Beach Dayclub at The Venetian, and Wet Republic at MGM Grand.
Frequent Vegas Headliner
Lil Wayne is a regular presence at Las Vegas sporting events and related festivities. Notable appearances include:
Game 4 of the Stanley Cup Final between the Golden Knights and Panthers.
Headlining halftime of last season’s Raiders-Steelers game at Allegiant Stadium.
Performing at Shaquille O’Neal’s “Fun House” show during Super Bowl weekend at XS Nightclub at Wynn Las Vegas.
Headlining the 49ers’ post-Super Bowl party at Omnia Nightclub at Caesars Palace.
Club Statements and Enthusiasm
“We are incredibly excited to welcome Lil Wayne to Zouk Las Vegas,” said Joe Lopez, Vice President of Zouk. “His dynamic performances and legendary status make him the perfect artist to launch this transformative residency. We look forward to providing an unparalleled nightlife experience for all to enjoy this monumental artist.”
Dustin Drai, President of Drai’s Management Group, echoed the excitement, saying, “We cannot wait to continue our longstanding relationship with Lil Wayne and have him return as a resident artist at Drai’s. We could not align with a more dynamic artist to welcome this debut residency partnership.”
Lil Wayne’s Musical Influence
At 41 years old, Lil Wayne remains one of the most influential rappers of his generation. Known for chart-topping singles like “6 Foot 7 Foot,” “Lollipop,” and “Got Money,” Wayne continues to make waves in the music industry. He has been nominated for a 2024 BET Award for Best Male Hip Hop Artist and Best Group with fellow rapper and Drai’s resident artist 2 Chainz.
His latest mixtape, “The Fix Before Tha VI,” precedes his highly anticipated upcoming studio album, “Tha Carter.”
Summerlin Area Command - Week Ending: June 7, 2024
Courtesy of The Las Vegas Metropolitan Police Department.
📌🏠 Summerlin South - May 2024
*Median Sold Price By Bedroom Count
This is the middle price for which all homes in the area were sold based on the number of bedrooms. Half of all the homes sold were below this price, and half were above.
Visit here to see the entire report.
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Until next time, John Wu.