| The Regent Changes For the "Bettor" | |
Part 2: A History Of The Regent
|
The Regent is presently under chapter 11 management and up for sale. The interim management has been doing their best to turn this place around by lowering table minimums and offering full pay video poker that will attract not only local players but tourist who are savvy enough players to appreciate a decent game.
The original philosophy and target clientele that the resort had hoped to attract did not work out as planned. The Regent was originally called The Resort at Summerlin, which opened on July 15, 1999 after months of delays. It was being billed as Las Vegas's first off-Strip luxury resort. They hoped to attract affluent vacationers and high rolling locals.
The 541-room resort that sits on 54 acres of land has a 40,000 sq. ft health spa that is almost as big as the 50,000 sq. ft casino. This was a sure indication about the market that they were hoping to attract. There are many upscale shops and dining options available to visitors.
When The Resort opened the players found that inside the casino most of the table games required minimum bets of $25, $100 and $500 although an occasional $5 or $10 table could be found. The video poker selection included only a few full pay jacks or better machines in the quarter denomination. Most other games were all short pay machines with unattractive pay schedules that knowledgeable players stay away from. They might as well put a sign out front that proclaimed. "Locals and average players not wanted!"
The market they chose to exclude did stay away, unfortunately so did a lot of the market they had tried to attract. In February of 2000 the struggling Resort at Summerlin officially changed their name to The Regent Las Vegas to take advantage of the Regent International reputation.
The Regent suffered another blow when the Suncoast opened next door on September 12, 2000. The Suncoast is one of the many Coast Casino properties that targets the local and average players by offering good video poker and low limit table games. The Suncoast flourished while the Regent struggled. By the end of the year after 16 months of operation the Regent filed for Chapter 11 bankruptcy.
Since the filing the Regent has been doing their best to change their image to that of a more player friendly Resort. They have lowered the table minimums and brought in many full pay video poker machines that will attract players of all levels including those they originally hoped to exclude. The opening of the poker room has also brought in players who would have passed this place by.
The change in attitude has had a big effect on the Regent. I was told by a reliable source that the operation that had been running in the red has improved and is now showing a profit. The owners of the Regent have accepted a bid by Peccole Nevada Corp to purchase the property. Bidding is still taking place for another month but Peccole has the option to match the highest bidder which it is reported they will. If approved by the Bankruptcy court judge, the sale could be completed by October.
The Regent continues to entice the local market. This includes offering great games, live poker, good food including one of the best buffets and even some hot pool parties for the summer. I don't know what the pending sale will bring when it happens but it would seem to me the new owners would want to continue with the present game plan that is turning this place around. Only time will tell. If you haven't visited the Regent yet why not stop by and give it a look.
Until next time,
remember:
"Luck comes and goes...Knowledge stays forever."
Back to Page 1 > Good Games