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Ticketing Shakeup - VIVID SEATS Aquires VEGAS.COM

SamNovak

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Ticketing Shakeup - VIVID SEATS Aquires VEGAS.COM

Big changes could be on the horizon for showgoers, despite reassurances to the contrary...

There's a reason why the term "takeover" can sound so ominous in the business world. When one company is acquired by another, your favorite grocery store can transform into one that you'll avoid. An airline that once operated with precision can plunge into a period of chaos that lasts for years. The bigger the takeover, the rougher the integration. This morning, Las Vegas entertainers, venue operators, and ticket buyers are waking up to the surprising news that VEGAS.COM has been purchased by VIVID SEATS. And while the casual visitor might not think much of it, this announcement will undoubtedly affect thousands of buyers in the months ahead. In recent years, VEGAS.COM has become a one-stop shop for tourists. The site allows you to purchase air travel, make hotel reservations, book tours and nightclub outings, arrange wedding packages, and most importantly....reserve tickets to Las Vegas shows. The "third-party broker" offers direct access to discounted seats, along with live chats and over-the-phone assistance. VEGAS.COM was once just another in the list of many third-party sellers that included GOLDSTAR, GROUPON, VegasFool.com, TicketKite.com, and BestOfVegas.com. But after 2020's shutdown, most of them downsized, fell by the wayside, shut down, or bounced their show customers over to VEGAS.COM. VIVID SEATS is a completely different kind of operation from third-party sellers. Categorized as a "ticket exchange and resale company", VIVID SEATS allows people to sell their high-demand seats to others, usually at a lofty markup. In other words, you're unlikely to find bargains there or other ticket exchange services. What's even worse, some of these companies can be borderline scammers. Last November I told you about ticket resellers who marketed themselves as third-party brokers. It's important to understand the diference. So if you're unclear, head over to our VEGAS 411 report here.

As my recent article on Venetian's new VOLTAIRE venue demonstrated, the price for Las Vegas show tickets has reached scary new heights. Much like with our economic structure, the "middle class" of entertainment is rapidly disappearing. Headliners can now command up to thousands of dollars, leaving a few successful budget productions to be content with the scraps. News of VIVID SEAT's takeover is already causing a strong reaction on both sides of the aisle: "Oh, sweet. $100+ fees on tickets. Can't wait. Not using hyperbole, either. Bought a ticket for MNF (Monday Night Football) when GB (Green Bay) was in town thru them. $274 for the ticket. $374 with fees. The monopoly that Live Nation, Ticketmaster, Vivid, etc have on event tickets and the secondary market is absolutely criminal." "So, is it a competitor to Live Nation/Ticketmaster? SO NEEDED IN LAS VEGAS!!! Great news for live entertainment". "Does not sound like a good thing. I just paid $30 in fees to see the Postcard movie (at SPHERE) on an $81 ticket". [embed]https://www.tiktok.com/@casinocompwallet/video/7292634423236021550[/embed] It should be noted that a recent viral video demonstrated the risk of using ticket resellers like VIVID SEATS and StubHub. For instance, hundreds of customers have reportedly been turned away at SPHERE for transferred tickets that the new entertainment venue refused to honor. So it's understandable if the official announcement, released this morning, is met with a bit of skepticism.

Good morning-

I am writing you today to share some exciting news. In the attached press release issued this morning, we announced that we have been acquired by leading online ticket marketplace, Vivid Seats.

I wanted to be the first to let you know and remind you that our focus, our day-to-day operations and, most importantly, our partnership with you, will remain the same.

Thank you for your continued support of Vegas.com and our partnership. We are very excited about this announcement. We look forward to the growth opportunities for our business that this transaction will provide.

Michael Reichartz

President, Vegas.com

In February of this year, I told you about Tix4Vegas, formerly known as Tix4Tonight. Once a chain of freestanding shops that sold deeply discounted seats from stores throughout the Strip, the company reinvented itself as a type of personal concierge service. Since then, the company has been purchased by Red Mercury Entertainment, a Las Vegas-based company. RME is said to be ambitiously investing in growth for Tix4Vegas, expanding the number of retail outlets and restoring the size of its operational team. So in one way, their evolution could be coming full-circle.

Pete Housley, owner of VEGAS411.com, TicketKite.com, and Admit.VIP Entertainment believes that the takeover of VEGAS.COM won't necessarily impact the third-party ticket site he runs. But as the operator of MODERN SHOWROOMS at Alexis Park Resort, he'll be observing industry changes closely: "This affects every show and producer in Vegas. Some of our shows generate a large percentage of revenue from VEGAS.COM. That's a lot of upheaval in ticket broker market with Tix4Vegas and now VDC being acquired." As with the city itself, ticketing for Las Vegas shows and events is a landscape that's constantly in flux. VIVID SEATS promises a smooth transition, but whether that can be achieved is something we'll soon discover.