Hard Rock did great at that location while it was hot. Palms did great at its location as it took over as the hot spot after Hard Rock started to fade.
In the long run, both did falter - at least partly due to location.
What about places like Mandalay Bay? People said it would never succeed that far up the Strip. And, although a completely different animal - South Point.
South Point is obviously doing well with all the new towers being built - is Mandalay? I don't go there anymore other than for House of Blues concerts, last time I played there was in the early 2000s, so I wouldn't know.