So, I missed the tour when it was making it's rounds (still is) and I haven't been to New York, so this is about the Las Vegas production only.
Last week I had the fortune of going to see the
Lion King at Mandalay Bay. I was sitting in the upper section (no balcony) with my kids. I found out when I got there that my 7yo has never seen the movie (how'd that happen?). So, some of the imagery was lost on her, but my son (10) loved it. I found the mix of staying true to the movie and making a production that was unique in its own right a very good balance.
Some of the cool things in the show: the wilderbeast charge, Scar's costume (I wish they would have done all the lion heads that way), Pride Rock, the added African music and dance, and some of the puppets (the cheetah was really creepy). The kids who played the young Nala and young Simba were outstanding. I think the young Simba beat out the adult Simba in applause at the end. Some of the lighting was outstanding, but at other parts I found it average (not bad in any sense).
This production takes place in the Mandalay Bay theater where Mama Mia was last playing. From what I understand, it only has an annual renewable contract, so who knows how long it will be in town (not fully built in like Phantom of the Opera at the Venetian).