What happened to Wet MDW ?

[tr305]

2011
Tiesto
Guetta
Avicii
Above and Beyond

2012
Miami Heat Center drafted in 1998
2nd guy from LMFAO ?
Laid Back Luke

Any insiders know what is going on ?

[AnthonyHyde]

the wynn has become a monopoly for DJs

[tr305]

Anthony let me ask you this. Won't WET gross close to the close to the same amount of money that weekend by having that sub par lineup as if they would with Tiesto, etc. etc. ? I mean the place is always packed that stretch of days based on name i.d alone so now they get to save $__,____ on a top line DJ and still be full. What's your thoughts ?

[Chuck]

Not if they lose the big spenders over to EBC. Even if they both have similar attendance EBC will blow them away if they've got more $/person on average. If you had $5000 to drop that day, where are you most likely to take your money?

[eleven]

Agreed - I'd like to see how their minimums this year compare to Tiesto last year. I can't see myself dropping $5k for a cabana at Wet with no headliner when I could do EBC or Marquee instead.

Obviously when you look at total revenue for a day, cabana/daybed revenue adds up a lot faster than people drinking $8 coronas from a walk-up bar.

[eleven]

Agreed - I'd like to see how their minimums this year compare to Tiesto last year. I can't see myself dropping $5k for a cabana at Wet with no headliner when I could do EBC or Marquee instead.

Obviously when you look at total revenue for a day, cabana/daybed revenue adds up a lot faster than people drinking $8 coronas from a walk-up bar.

[AnthonyHyde]

they won't lose a dime. Wet is still the best pool party in town.

[jsully84]

they won't lose a dime. Wet is still the best pool party in town.

+1. Places like EBC (Tiesto & Angello), Tao Beach (Morillo & Van Dyk), and MDC (Avicii) have big headliner residents and Wet, aside from holiday weekends, doesn't have big headliner DJ's and they still are able to compete with those other dayclubs.

[Chuck]

So how does Wet do it without the big names? Better venue, crowd...?

[tr305]

Branding

[AnthonyHyde]

Branding

yes, the pool is just set up perfectly. Bungalows are huge, secluded, but not too secluded. lets face it, when you're spending 20k you want to be seen. The cabanas are right in all of the action, and the day beds are are awesome. there are very few places that aren't good tables.

[Louie]

They will start losing customer loyalty if this continues. Last year this time all their events were sold out for MDW. None are sold out as of today. I guarantee if you compare revenue this MDW vs. last year there will be a significant drop. This is all about market share and they will start losing market share (Rehab is a perfect example). Encore monopoly is no excuse for this lineup. When Tao beach has a better lineup than wet for MDW something is wrong and someone needs to be fired. Do they not understand the concept of direct competition and when you slip for one second your competition will be there and take your customers away for you. (ie. Apple killing blackberry) lol

[timbuck2]

Or maybe MGM has made a strategic decision to try and avoid the mayhem. There was an article a while back about Gaming Control clamping down on the daylife/nightlife spots (drugs, prostitutes, people being overserved, etc). Maybe MGM is taking a step back and focusing on gambling and food instead of trying to be "one of the cool kids" on the strip.
Cosmo is the hot place to stay, but they have been in the red forever.
Wynn locked up all of the big name DJs.

(I have no insight on this at all. Just throwing this out as a possibility).

[tr305]

Rony Seikaly gonna tear that place apart.

[Chuck]

If they have a good product, which from the sounds of Anthony's response they do, then it's more about maintaining margins that are healthy and maintaining the brand. If your venue is THAT great, and you've got loyal clients (which nobody but MGM knows), then there's no reason to overpay for big name DJ's when everyone knows you're going to throw a hell of party even if Dave Mathews is on the decks.