I like elements of this design, but the "&" and the lettering on the bottom are boring. Really like where you're going with the design of the logo though.
LOVE the font you used here... if you can add the mirror effect and maybe bring the "smoke & mirrors" and the "vapor lounge" a little closer together and maybe make the logo portion a little smaller. We really like the original one and number 46 so far as logo goes... if you could combine the two by getting rid of the "&" in the original one and doing the white on one side and red on the other... that would be fantastic!
can you turn up the saturation in the red.. it's a little lackluster. and maybe a version where all of the elements don't feel so separated would be nice to see.