Virgin Las Vegas financial picture improving with a return to fundamentals – CDC Gaming
CDC Gaming Reports
Last updated: May 26, 2026
Cliff Atkinson has transferred his 51% stake in the casino management entity of Virgin Hotels Las Vegas to his partner Chad Konrad. This transfer occurs as the property shows signs of improvement and launches a marketing campaign targeting local residents, with the Nevada Gaming Commission approving the transaction.
- Former casino executive Cliff Atkinson has transferred his entire 51% interest in C&C 4455 LLC, the entity managing the casino at Virgin Hotels Las Vegas, to his partner Chad Konrad. This move was prompted by Atkinson's pursuit of a new role as head of the Fremont Street Experience. The transfer of interest was made at no cost, with the entity having taken over casino management from the Mohegan Sun tribe over a year ago.
- Chad Konrad, who has extensive experience with the property, attributed recent financial improvements to a return to fundamental customer understanding, focusing on service and product offerings. The property is initiating a marketing campaign aimed at Las Vegas residents, addressing a previously overlooked demographic.
- Recent financial performance indicates significant growth, with the casino side experiencing approximately 10% growth in coin-in, 88% in table games revenue, and almost 30% in slot revenue during the first quarter. Non-gaming operations also performed well, exceeding projections in January and February, with March occupancy surpassing the Strip average.
- Konrad has implemented strategic changes, including hiring a new casino general manager and engaging a gaming-industry consultant, to drive further improvements. The ownership structure ensures that hotel ownership does not interfere with casino management operations.
