DECEMBER 2019 - NEW YEAR'S EVE IS A MU$T

DECEMBER 2019 - NEW YEAR'S EVE IS A MU$T

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 DECEMBER 2019 - NEW YEAR'S EVE IS A MU$T
By RichUnger@promotingnightclubs.com

          Always look at New Year's Eve as the biggest money making night of the Year. I cannot say that enough. Don't just appeal to Couples, remember there are lots and lots of Singles out there, who feel left out on New Year's Eve, because Bars, Clubs, Restaurants, never ever reach out to them.
 I know of an Event, held at a Public Auditorium, that has a huge New Year's Eve Party open to anyone who can afford it.
 Here is their ticket information, straight from their site:$125. PER TICKET ALL INCLUSIVE OPEN BAR, BOTTOM LESS CHAMPAGNE, CATERED APPS & DESSERTS, VALET AND MORE. $200 DAY OF EVENT AND AT THE DOOR, AS AVAILABLE. THEN THE ULTIMATE $1500 RESERVED PREMIUM TABLE TEN TICKETS REQUIRED AND A PRIVATE BOTTLE OF CHAMPAGNE. THEN THE VIP, $3500 FOR  FOR YOUR TABLES, HI-TOPS AND CUSHION STOOLS, BOTTLE SERVICE AVAILABLE. THIS EVENT IS HELD EVERY YEAR. I THINK THE CHARGES OF $1500 AND $3500 ARE OUTRAGEOUS, BUT IF GUESTS WANT TO PAY THESE EXORBITANT DOLLARS, THEN I HOPE IT IS WELL WORTH IT. I WOULD OF DRESSED THESE PRICES UP WITH PRIVATE BAR SERVICE, GOURMET APPETIZERS, EXCLUSIVE DANCE AREA, PERSONAL BIG SCREEN TO VIEW TIMES SQUARE EVENT. I WOULD HAVE ALSO HAD THE UBER AND LYFT DRIVERS OUTSIDE AT MIDNIGHT, BECAUSE MANY COUPLES LEAVE RIGHT AFTER THE BALL DROP. I WOULD OF ALSO HAD PHOTO BOOTHS SET UP AS WELL AS A SUSHI STATION SET UP. THIS IS A REAL NEW YEAR'S EVE EVENT BEING HELD. IT IS AN ANNUAL EVENT. THE COSTS BETWEEN INSURANCE, HALL RENTAL, MUSIC, TABLES, CHAIRS, SPECIAL LIQUOR LICENSE, BAR SET UP, BARTENDERS, SERVERS, VALET PARKERS, AND ON AND ON CREATE A HUGE INVESTMENT IN ORDER TO SEE A "ROI".
BUT , IT IS A MUST. BECAUSE AS I ALSO ALWAYS SAY, IT'S ONCE A YEAR, AND YOU MUST GO ALL OUT. YOU NEED ADDITIONAL STAFF, WITHOUT ANY QUESTION. YOU MAY NEED TO HIRE A VALET PARKING SERVICE. DO YOURSELF A FAVOR, DO NOT JUST HANG SOME BALLOONS AND THINK YOU ARE COVERED FOR NEW YEAR'S EVE, YOUR NOWHERE PREPARED.
THERE ARE SO MANY NEW BAR OWNERS WHO DON'T GRASP THE IMPORTANCE OF THIS NIGHT.
IT MATTERS, THE REVENUE YOU TAKE IN ON THIS NIGHT, IS OFTEN MORE THAN YOU EVER THOUGHT YOUR BAR COULD GENERATE. REMEMBER, NEW YEAR'S EVE FALLS ON A TUESDAY NIGHT. NOT A TYPICAL NIGHT TO DO ASTRONOMICAL BUSINESS. BUT IT WILL IF YOU PREPARE AND PRESENT A NIGHT TO REMEMBER. THAT'S WHY NEW YEAR'S EVE IS A MUST!
   

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Coca-Cola Chasing La Croix Beverage For Market Share Of The
Sparkling Water Segment.
Coca-Cola mixed and matched 50 pairs of flavors before coming up with the eight that will be on store shelves. They include Orange, Grapefruit, Blueberry, Pomegranate, Peach and Honey.
These Flavored Seltzers will be the newest entrant in a crowded category.
Straight From "THE SUITS @ COKE : 
Coca-Cola North America is adding a new sparkling water brand, Aha, to its lineup in March 2020. Created in about six months, Aha will be the beverage giant's first new brand in a decade.
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                        LAS VEGAS'S BIGGEST NIGHTCLUB                                    GAMBLE, THAT CAME UP BUST !                            
                          Just seven months after the Palms celebrated the grand opening of Kaos dayclub and nightclub, Red Rock Resorts is shutting it down, effective immediately.The decision to ax the crown jewel of the Palms’ $690 million renovation project was made after the company reported a net loss of $26.8 million in the third quarter, down $51.9 million from the same period last year.
“It’s obvious that the nightclub environment in Vegas is extremely competitive. It doesn’t appear that the market has grown enough for the amount of supply in the market,” said Red Rock CEO Frank Fertitta III during a Tuesday call to investors. “The cost of entertainment is excessively high, and we just made the decision to focus where the fish are and acknowledge that the nightclub business, at least at the Palms, was not working for us.”
A costly shake-up
Red Rock spokesman Michael Britt said the company is going to take time to reassess the programming and use of the Kaos venues going forward.

 

 

In the meantime, the space will be used for special events, private meeting space and everyday resort pool operations.
“While Palms has experienced exceptional growth across both the gaming and non-gaming segments of the business, the expense side of the business has been challenging to date, due in large part to the entertainment and fixed cost structure associated with KAOS,” Britt said in a Tuesday statement.
Both the dayclub and nightclub shut down for six weeks, beginning in September, to construct a 70-foot dome that covers 33,000 square feet of space.

It doesn’t appear to have been missed much over that time span; Cootey said Red Rock saw “no degradation in any of the lines of business at the Palms” over the weeks.
While the Palm sees an increase in business at the gaming floor and restaurants while the Palms’ Pearl Theater is in use, Fertitta said the same did not hold true for Kaos.
“We did not see that correlation with the nightclub,” Fertitta said. “One could even make the case that it may have had a negative impact to the core gaming customer on the property.”
The venue had been hinting at a major change-up over the last few months.
In September, it was reported that Marshmello was no longer listed as a resident headliner at the club.
The DJ was reported to have been released from a two-year, $60 million contract. The next month, Jon Gray left his post as the Palms’ general manager.
Red Rock said the company’s net income loss was primarily due to “one-time charges relating to the termination of certain artist performance agreements and employment arrangements at the Palms, as well as higher depreciation and amortization relating to the Palms redevelopment project,” according to a Tuesday press release.

Stephen Cootey, Red Rock’s chief financial officer, said the company paid $28.2 million last quarter related to terminate certain artist performance agreements and employment agreements. The company expects to pay similar one-time charges between $16 million and $22 million over the next two quarters.
Overall, the Palms generated a cash flow loss of around $10 million in the third quarter, lower than analyst expectations.
Moving forward
Cootey said the company’s performance the past three months had solid results, aside from the Palms. When excluding the property, the company’s net revenue rose 3.6 percent.
“Results continue to be solid and demonstrate the ongoing core strength of our business,” he said.
J.P. Morgan gaming analyst Joseph Greff noted that by excluding the unprofitable Kaos, cash flow would have been positive in the third quarter.
The club’s implied revenue in the third quarter was $18.6 million, but generated a loss of $13.5 million in adjusted cash flow.
“We see a relatively solid core (Las Vegas locals market) and fewer drags at Palms, which has been a difficult chapter for shareholders, and, frankly, a costly investment,” Greff said in a Tuesday note.
Red Rock  and the tens of millions of $ that were remains bullish on the Palms’ future performance, especially now that it had completed its renovation project.
Cootey said it does well attracting in both locals and visitors and Red Rock expects the Palms to “generate significant returns for the company over time.”
There were major mistakes made in the entire planned format for "KAOS". The initial investment, the reliance on One DJ with an astronomical fee, a 2 year Residency costing tens of millions of $ was absurd from the start. It proved to be exactly that, after the Club opened, and the "ROI" was nowhere to be found.
THIS CAN ONLY HAPPEN IN VEGAS, BECAUSE NOWHERE ELSE DOES THIS KIND OF CASH BECOME AN INVESTMENT IN SOMEONE'S VISION THAT WAS TOTALLY DISTORTED FROM THE BEGINNING.
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YOU HAVE A BAR AND YOU NEED A MAJOR INFUSION OF "FUN", OF "WOW"! YOU SHOULD APPROACH A LOCAL CRAFT BEER ABOUT PUTTING A BREWERY RIGHT NEXT TO YOUR BAR, PROVIDING THE SPACE IS AVAILABLE. IF NOT THEN JUST THE OPPOSITE,MOVE YOUR BAR NEXT TO THE CRAFT BEER BREWERY.
THE REASON THE MAJOR BEER COMPANIES ARE BUYING UP VERY POPULAR CRAFT BEERS ,IS SIMPLE. THESE CRAFT BEERS ARE TAKING AWAY MARKET SHARE FROM THE BIG BEERS. THESE CRAFT BEERS ARE DIRECTLY APPEALING TO MILLENNIALS. THEY WANT THEIR OWN BEER, AND THEY HAVE SUCH A DIVERSE SELECTION TO CHOOSE FROM. IT IS UP TO YOU, TO JOIN THE CHANGE. DON'T JUST OPERATE IN A "DENIAL MODE", YOU WILL FIND YOUR BUSINESS SINKING. 
  START PLANNING YOUR "SUPERBOWL SPECTACULAR", RIGHT AFTER NEW YEAR'S EVE. I HAVE A FORMULA, "PAY AT THE DOOR, THEN PAY NO MORE", IT DRAWS A PACKED CROWD, EVERYWHERE THAT OFFERS THIS CONCEPT. THE STRATEGIES IN THIS 2020 YEAR, IS TO BE FIRST, TO BE AHEAD OF THE OTHER BARS  AND TO FINALLY EMBRACE PROMOTIONS, LIKE YOU NEVER EVER HAVE BEFORE. I AM NOT SPEAKING OF CHEAP OR FREE DRINKS, I AM REFERRING TO INTERACTION, FUN, WOW, FAB, THAT ESPECIALLY WOMEN GRAVITATE TO. I HAVE NEVER SEEN MORE OWNERS OPEN NEW CONCEPTS WITH SUCH A MAJOR EMPHASIS ON FEATURING 100 RUMS, OR 100 TEQUILAS, OR A TREMENDOUS SELECTION OF BOURBONS OR WHISKEYS. BUT AFTER THE GUEST HAS ORDERED TWO TO THREE DRINKS, THEN WHAT? WHAT ARE YOU DOING TO KEEP GUESTS COMING, AND THEN BRINGING FRIENDS AND COMING BACK AGAIN? LOOK @ YOUR OVERALL CONCEPT AND YOU TELL YOURSELF THAT IT IS THE BEST YOU CAN DO? I SAY IT IS FAR FROM IT !
 Now go enjoy your Thanksgiving, and football games, and then think about what I said, and email RichUnger@promotingnightclubs.com to get SERIOUS.

      HAPPY THANKSGIVING TO YOU AND YOUR FAMILY.

 

 
Copyright 2019 Rich Unger

 

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