QT expanding to Vegas

[jamcool]

QuikTrip is building its first location in Las Vegas.
https://www.cstoredive.com/news/quiktri ... re/705937/
The only large rival there is Terrible's. Maverik and Circle K have stores there, plus a bunch of independently owned 7-11s and AMPMs

[BatteryMill]

QuikTrip is building its first location in Las Vegas.
https://www.cstoredive.com/news/quiktri ... re/705937/
The only large rival there is Terrible's. Maverik and Circle K have stores there, plus a bunch of independently owned 7-11s and AMPMs

What a funny name for a competitor. Also, yet again, a deluxe c-store chain is expanding. Seems like they have great incentives to head to new markets or just have bottomless money troughs on them.

[jamcool]

Terrible Herbst…they also run casinos and car washes in Nevada.

[storewanderer]

They should have done this a while ago.

Maverik hasn't built many locations there and hasn't done overly well. They have a couple very high performing locations though.

One of those very high performing Maverik units is at the next exit from this first QT. However the Maverik is extremely well positioned for warehouse traffic. The QT, not so much.

Circle K has been aggressively adding locations and so is Terrible Herbst.

The Circle K units are high traffic.

Terrible Herbst is really low traffic and they survive on gaming revenue and extremely high gas and store pricing. The Terrible Herbst stores are very very nicely finished inside (they spend a lot of money on flashy signs, nice tile work, and such).

There is a Shell operator called Green Valley Grovery owned by an investment group and also has been rapidly adding units and they follow a similar strategy to Terrible Herbst.

7 Eleven has also been building a few new stores.

AMPM is completely stagnant and shrinking.

Rebel (Anabi) is a mess of old stores, some Arcos, some unbranded, some they've even added 7 Eleven stores to. Just a mess. In the 90s Rebel with 76 at the time ran by far the highest volume units in the market and grew into the 00s..

The gas station field is very crowded in Las Vegas. QT should have done this expansion sooner. It will probably still work out but it will be more challenging to pick up the right sites.

[ClownLoach]

The owner of Terrible Herbst has a yacht in Newport Beach. It could be better described as a mini-cruise ship. This boat easily cost in excess of $100 million dollars, maybe double that, and the tail has the Terrible Herbst cartoon character made of gold and diamonds. It has at least 3 big levels and could probably have 500+ people on board partying. I've seen smaller wedding cruise ships that aren't nearly as fancy.

They ain't going to be hurt by QT or anyone else coming to town. They aren't worried.

[storewanderer]

The owner of Terrible Herbst has a yacht in Newport Beach. It could be better described as a mini-cruise ship. This boat easily cost in excess of $100 million dollars, maybe double that, and the tail has the Terrible Herbst cartoon character made of gold and diamonds. It has at least 3 big levels and could probably have 500+ people on board partying. I've seen smaller wedding cruise ships that aren't nearly as fancy.

They ain't going to be hurt by QT or anyone else coming to town. They aren't worried.

QT will impact their future expansion opportunities. I think QT will have a much bigger impact on Circle K and Maverik than anyone else in the Las Vegas market. Terrible Herbst has already "taken the bullet" from those two players long ago.

[ClownLoach]

The owner of Terrible Herbst has a yacht in Newport Beach. It could be better described as a mini-cruise ship. This boat easily cost in excess of $100 million dollars, maybe double that, and the tail has the Terrible Herbst cartoon character made of gold and diamonds. It has at least 3 big levels and could probably have 500+ people on board partying. I've seen smaller wedding cruise ships that aren't nearly as fancy.

They ain't going to be hurt by QT or anyone else coming to town. They aren't worried.

QT will impact their future expansion opportunities. I think QT will have a much bigger impact on Circle K and Maverik than anyone else in the Las Vegas market. Terrible Herbst has already "taken the bullet" from those two players long ago.

The fact that the valley is running out of intersections without a Terrible's is limiting their future expansion opportunities too. QT will be a good addition to force the competition to clean up or get lost. But I know QT uses larger plots of land, and they might not be able to find a lot of quality sites. The best sites are already taken... By Terrible's. Do not get me wrong, QT is a good operator I wish was in California. I just would not be surprised if Terrible's owner (s?) is the richest C-store operator in the country. Or at least the most lavish spender.

[storewanderer]

The fact that the valley is running out of intersections without a Terrible's is limiting their future expansion opportunities too. QT will be a good addition to force the competition to clean up or get lost. But I know QT uses larger plots of land, and they might not be able to find a lot of quality sites. The best sites are already taken... By Terrible's. Do not get me wrong, QT is a good operator I wish was in California. I just would not be surprised if Terrible's owner (s?) is the richest C-store operator in the country. Or at least the most lavish spender.

Expansion has become even more rapid with Terrible Herbst since the father passed away. The two sons currently run it. They are involved in many things. A lot of different LLCs/entities. Single gas stations in an entity. They had some problems back in the 2008 recession period and shed a lot of operations (shed all of the gas stations they had around Reno which were a very bad acquisition for them in the first place, along with various casinos, shed everything they had at Primm, I think they shed the supermarket slot routes too). Then they started to rebuild their business. They added casinos again, added supermarket slot routes again, and kept building new gas stations around Las Vegas.

They got into mobile gaming also.

QT has not faced a competitor quite like them before but I think they will cater to completely different customers. Terrible Herbst Stores don't do much with prepared foods the way QT does. Terrible Herbst Stores mostly have Chevron branded fuel at high prices; QT runs with discount fuel. I doubt QT will have slot machines but we will see. Just different operating styles. Different staffing models. Just very different stores.

[ClownLoach]

The fact that the valley is running out of intersections without a Terrible's is limiting their future expansion opportunities too. QT will be a good addition to force the competition to clean up or get lost. But I know QT uses larger plots of land, and they might not be able to find a lot of quality sites. The best sites are already taken... By Terrible's. Do not get me wrong, QT is a good operator I wish was in California. I just would not be surprised if Terrible's owner (s?) is the richest C-store operator in the country. Or at least the most lavish spender.

Expansion has become even more rapid with Terrible Herbst since the father passed away. The two sons currently run it. They are involved in many things. A lot of different LLCs/entities. Single gas stations in an entity. They had some problems back in the 2008 recession period and shed a lot of operations (shed all of the gas stations they had around Reno which were a very bad acquisition for them in the first place, along with various casinos, shed everything they had at Primm, I think they shed the supermarket slot routes too). Then they started to rebuild their business. They added casinos again, added supermarket slot routes again, and kept building new gas stations around Las Vegas.

They got into mobile gaming also.

QT has not faced a competitor quite like them before but I think they will cater to completely different customers. Terrible Herbst Stores don't do much with prepared foods the way QT does. Terrible Herbst Stores mostly have Chevron branded fuel at high prices; QT runs with discount fuel. I doubt QT will have slot machines but we will see. Just different operating styles. Different staffing models. Just very different stores.

Well it's pretty hard to see what's going on in Vegas from the megayacht in Newport harbor where they spend their time. Wonder if they're actually involved in the business, or if they're just spending the money and living the rich playboy life? I would imagine a boat like that requires a large 24/7 crew, sailing or not. Can't imagine what they live in with a boat like that...

[storewanderer]

Well it's pretty hard to see what's going on in Vegas from the megayacht in Newport harbor where they spend their time. Wonder if they're actually involved in the business, or if they're just spending the money and living the rich playboy life? I would imagine a boat like that requires a large 24/7 crew, sailing or not. Can't imagine what they live in with a boat like that...

The two brothers and some other family members are highly involved in the business... constantly developing new projects/locations.

Newport Beach to Las Vegas isn't far on their jet. Probably 45 minutes in the air, 15 minute drive to the airport.
https://registry.faa.gov/AircraftInquir ... erTxt=668T

They know how to make money on gaming operations and using the other services as a light customer draw.