Las Vegas Casino Operators Discuss Future Growth and Investments

During a recent meeting with the Nevada Gaming Control Board, three prominent Las Vegas casino executives showcased their optimism about the future of their properties and outlined the significant investments underway.

Chad Konrad, CFO of Virgin Hotels Las Vegas, Daniel Ruiz, Chief Gaming Officer for The Venetian Las Vegas, and Maurice Wooden, President of Fontainebleau Las Vegas, all presented their positive outlooks for the remainder of 2025 and beyond. The executives are set to be formally licensed by the Nevada Gaming Commission on May 22, 2025, after receiving a recommendation for approval from the board.

Executives Highlight Growth and Investment in Las Vegas Casino Properties

Daniel Ruiz, a former executive at Venetian Las Vegas since July 2023. Under Ruiz’s leadership, the Venetian has embarked on a multi-year transformation, investing over $1.5 billion to rejuvenate the resort.

“We’ve been very successful in the last couple of years under the ownership of Apollo Global Management, which took over in 2022, and in Q1 of this year,” Ruiz shared. “We are cautious about the summer, but we’re excited for the years ahead with new restaurant openings and suites coming online.”

Virgin Hotels Las Vegas: A New Chapter Under C&C 4455 LLC

Chad Konrad, who now leads Virgin Hotels Las Vegas under the management company C&C 4455 LLC, took over the casino from the Mohegan Sun Tribe in March 2025. The Mohegan tribe had managed the property since it reopened in 2021 but exited last year, leading to the transition to Konrad’s team.

One of the major accomplishments was the resolution of a strike with the Culinary Union in January, which allowed employees to return to the property.

“Ending the strike was very important to us. Jobs are intact, employees are back at the property, and we can move forward with business,” Konrad noted.

Under the new management, Virgin Hotels Las Vegas is undergoing a rebranding process, including the launch of its new rewards program in March. Konrad also shared insights on the property’s entertainment offerings, emphasizing that the hotel’s pool would not resemble the famous Rehab dayclub from its past. Instead, they offer a 21-and-older pool alongside a resort pool, catering to a more mature clientele.

Fontainebleau Las Vegas: The North Strip’s Newcomer

Meanwhile, Maurice Wooden of Fontainebleau Las Vegas discussed the rapid progress made by the hotel since its December 2023 opening. The north Strip property has experienced a significant uptick in visitation and now sees better occupancy rates, as well as increased contributions from its restaurants.

“We’ve had 60% growth in room occupancy, 60-70% growth in food and beverage, and our convention sales group has been extraordinary in filling those,” Wooden said.

Fontainebleau has faced challenges, especially being situated north of the main Strip, where foot traffic is lighter. However, Wooden highlighted the successful integration of entertainment, which has helped drive traffic.

“In the first four months, we had one act, and in the last six months, we’ve had 54. Ninety percent of the people who come for the shows aren’t staying on the property. They come for the entertainment and then realize they can stay here,” he said.

Service remains a key differentiator for Fontainebleau, which Wooden credits for its ability to increase customer loyalty and shift market share. “The magic ingredient is the employees—6,300 people who make the place come to life every day,” Wooden added. He noted that the casino’s reputation had transformed, and customer satisfaction was now a major focus.

Mesquite Gaming: Major Investments and Vision for the Future

In addition to the Las Vegas executives, the Nevada Gaming Control Board also recommended the licensing of Joseph Connelly IV, a board member of Mesquite Gaming, which owns CasaBlanca and Virgin River Casino.

Since Oaktree Capital Management acquired these properties in late 2023, Connelly shared that the properties had seen significant growth, both in revenue and profitability. “Since the acquisition, we’ve invested tens of millions and intend to invest as much or more in the coming year,” Connelly said.

Connelly’s vision for Mesquite Gaming includes transforming the CasaBlanca casino, which he noted had been “run down” before the acquisition. He emphasized plans for a major overhaul of the food amenities and further expansion of the resort.

Additionally, the properties’ close proximity to some of the country’s most beautiful national parks presents a unique opportunity to create a “staycation” destination.

Source Attribution:

“Las Vegas casino operators talk up their properties at Gaming Control Board”, cdcgaming.com, May 11, 2025.