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Trouble on the Las Vegas Strip: Tropicana Files For Bankruptcy

by Deidre Woollard (RSS feed) —

One of the icons of the Las Vegas Strip is in big trouble. The owner of Tropicana casinos in Atlantic City and Las Vegas has filed for Chapter 11 bankruptcy protection. It's been a rough year for the Tropicana, in December the New Jersey Casino Control Commission said that the company wasn't capable of running the operation in accordance with state law and the Tropicana in Atlantic City lost its license. That decision led to a funding crisis which eventually led to the bankruptcy filing. The company has reported assets of $2.8 billion and liabilities of $3.3 billion. Tropicana Entertainment has said it will keep their properties running throughout the country and Scott C. Butera, the company's president, has urged people to continue to patronize Tropicana's properties which include The Tropicana Casino & Resort in Las Vegas; Bayou Caddy's Jubilee Casino in Greenville, Miss.; Casino Aztar in Evansville, Ind.; Horizon Casino Hotel in Vicksburg, Miss.; Horizon Casino Resort and the MontBleu Resort Casino & Spa, both in Lake Tahoe, Nev.; the Tropicana Express Hotel & Casino in Laughlin, Nev.; River Palms Resort & Casino in Laughlin, Nev.; and the Sheraton Hotel and Belle of Baton Rogue Casino in Baton Rouge, La.

The Tropicana in Atlantic City isn't part of the filing because it has to be sold by a state-appointed conservator which was mandated when the former owners lost their license in December. The company will get the money from that sale but it's not the best time to be selling real estate and so the price may be lower than would usually be expected. The company may also sell other properties as the restructuring process continues. The Las Vegas casino is the property with the most value, it occupies a nice chunk of prime Strip real estate. I'm sure developers will eagerly snap it up if the Tropicana is unable to save itself.

Tags: bankruptcy, casino, tropicana

Will The Airbus A380 Be Turned Into A Flying Casino

by Deidre Woollard (RSS feed) —

Filed under: Wings

This just might be the most outlandish Airbus A380 story yet. Aero-News Network reports that there is interesting in turning the doubledecker plane into a flying casino. According to the article, the planemaker mentioned onboard gaming as a possibility when the plane first came out but airlines weren't really interested because gaming areas would take up valuable space where they could put more passengers. Now Airbus reports that they have had interest from customers (presumably not airlines) who are interested in creating flying casinos. One of the major areas of interest for these planes has been from Asia, where gambling is booming. The Chinese territory of Macau is quickly overtaking Las Vegas as the world's top gambling destination. Airbus has said that the first A380 flying casino could enter service in 2012.

Tags: a380, airbus, casino, doubledecker plane

Cosmopolitan Casino Faces Foreclosure

by Deidre Woollard (RSS feed) —

Three years ago, when we first wrote about the Cosmopolitan casino project in Las Vegas, 2008 seemed far away. But now, in the year the project was initially set to launch it is instead facing foreclosure. Investment bank Deutsche Bank has taken the initial steps toward foreclosure on the $3 billion project. The developer and owner Ian Bruce Eichner is still looking to find new investors but the construction loan from Deutsche Bank of $760 million has gone into default. The massive hotel and casino is still under construction with a planned launch for 2009. The project is located between the Bellagio casino resort and the CityCenter casino complex on the Las Vegas Strip. Many of the nearly 3,000 hotel rooms were to be condo-hotels and the company says that 84% of the 2,184 units available have sold. Around the Strip though, projects have been falling through all over the place. Fortune Magazine cites the data from research firm Applied Analysis which states that in the past four years around 20,000 condo units in the Las Vegas area have either been scrapped or are on hold.

Tags: casino, condo, cosmopolitan, hotel, las vegas, resort

The New Frontier Goes Down So The Plaza Can Go Up

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

Another Las Vegas landmark has crumbled so that something new, larger and more luxurious can rise in its place. The New Frontier Hotel & Casino was imploded to make room for The Plaza, a Las Vegas version of the popular New York landmark. The New Frontier opened in 1942 and was the spot of Elvis Presley's first gig on the Las Vegas strip. The Plaza is estimated to be an $8 billion project and is expected to be completed in 2011. It will include a luxury hotel, private residences, retail, restaurants, a convention complex, entertainment, and of course, a casino.

Tags: casino, frontier, hotel, las veas strip, las vegas, plaza

Revel Entertainment's Atlantic City Resort

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

A few weeks ago I mentioned the MGM Grand's big plans for Atlantic City, NJ. Their multibillion dollar resort is far from the only game in town. Another huge project, this one from Revel Entertainment just got preliminary site plan approval from the city planning board. The project includes two towers with almost 2,000 rooms each and a large casino exceeding 168,000 square feet. The project is estimated to cost in the $2 to $2.5 billion range and will welcome visitors with Revel Beach, a sandy area at the far corner of the complex next to the boardwalk that will feature a nightclub, retail space and dining options. The project also includes a 5,000-seat event center and another 600-seat theater as well as a spa and fitness center with indoor and outdoor swimming pools. The first phase is expected to open in 2010.

Gallery: Revel Resort

Tags: atlantic city, casino, development, new jersey, revel

MGM Goes Big In Atlantic City

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

Atlantic City is on the rise again with a new massive plan from the MGM Mirage. The project, which could run up to $5 billion, includes three hotel towers with more than 3,000 rooms, the largest casino floor in the state, a theater, spa, convention center and retail space. There may be a residential component at a later date. The resort will also be the city's tallest building. Pending state approval, they plan to break ground on the project next year and it should be completed in 2012. This project will likely be called City Center East and it is the companion project to the huge project currently underway in Las Vegas.

Tags: atlantic city, casino, city center east, gambling, mgm, mgm mirage, new jersey, resort

The Most Expensive Casino Suites Not Just for High Rollers

by Rigel Celeste (RSS feed) —

Filed under: Luxury Travel & Hotels

Everything changes, even in Vegas (or especially in Vegas?) when it comes to big name casinos and how they divy out their best suites. They used to be reserved exclusively for only the highest of high rollers on a comp basis, but these days more and more casinos are catering to a different crowd: those who just want to pay to party and not necessarily spend all day and night gambling.

Flat rates and outrageous luxury perks are the latest trend, with prices easily skyrocketing into 5 digits. The top of the line? The Fantasy Towers at Palms, Hugh Hefner Sky Villa, available for only $40,000/night.

Tags: casino, casinos, gamble, gambling, high roller, high rollers, HighRoller, HighRollers, las vegas, LasVegas, most expensive, MostExpensive, vegas

MGM Grand Detroit To Get Celebrity Chefs

by Deidre Woollard (RSS feed) —

Filed under: Dining, Luxury Travel & Hotels

Is Detroit set to become the new Las Vegas. The MGM Grand Detroit is a new luxury hotel with 335 guest rooms, nine rooftop VIP suites and 56 corner suites. The hotel will have a private entrance, a concierge level with full-service lounge and a Lobby "Living Room" for hotel guests only (shown above. The hotel which is set to open in the fall, has just announced that it will be home to three signature restaurants by two famed chefs. Wolfgang Puck will open the Wolfgang Puck Grill and chef Michael Mina will introduce both Saltwater, a seafood restaurant and Bourbon Steak, a steakhouse. Puck's entrees will also be part of the room-service program. The hotel will also include a piano bar, nightclub and a lavish spa. The MGM Grand Casino in Detroit is already open and is part of a growing hotel and casino complex in the Motor City.

Tags: casino, detroit, hotels, mgm grand, MgmGrand, michael mina, MichaelMina, wolfgang puck, WolfgangPuck

Massive Casino Planned For Bethlehem, Pennsylvania

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

The town known as Christmas City, Bethlehem, Pennsylvania just got a big gift for the holidays. The Pennsylvania Gaming Control Board has announced the Sands Bethworks Gaming, a subsidiary of Las Vegas Sands has been approved for a state gaming license. The company will now begin construction on a massive casino complex that will be located on the site of the former Bethlehem Steel plant. The first phase of the "Sands BethWorks" project will include a 300-room hotel, 3,000 slot machines, multiple dining and entertainment venues, the National Museum of Industrial History and the broadcast home of the local PBS affiliate. The company hopes to open the complex in 2008. The project is expected to bring jobs, tourism and a big boost to the local economy.

Tags: bethlehem, casino, gambling, pennsylvania, sands

Stardust Auction, Vegas Memories For Sale

by Deidre Woollard (RSS feed) —

Filed under: Decor, Auctions

If perhaps you've got a great game room and you'd like to really make it amazing you might want to check out the auction of the Stardust Hotel and Casino on the Las Vegas Strip. The hotel recently closed and they are planning to auction off the goods in the hotel and casino November 17-21. The items include roulette tables, signs, chairs, TVs and chandeliers. The only things off limits are the slot machines which will be distributed to other casinos and the casino chips which are required to be destroyed. The auction will be onsite and those who can't attend in person can attend via webcast.

Tags: auction, casino, hotel, las vegas, stardust

French Lick Resort Set To Re-Open

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

I love it when an older resort gets a face lift and appeals to a whole new generation of travelers. The French Lick Resort and Spa has been renovated in the past year to coincide with the opening of the property's new casino. The original resort was built in the 1840s and then rebuilt in grand style in the late 1890s. Now the 443-room resort includes a larger revamped spa that still includes the mineral-rich "Pluto Water" that lured guests to the hotel one hundred years ago. The 84,000 square-foot nautically themed casino has a large gaming room with 26-foot ceilings.

The hotel is still being worked on but is open to guests. For those who really want to step back in time the hotel is holding a 1920s-themed New Year's Eve celebration. For $695 you can stay at the hotel, attend the Roaring Twenties party with a five course dinner and an open bar and enjoy breakfast the next morning.

[via The Daily World]

Tags: casino, french lick, FrenchLick, indiana, resort

Grand Sierra Resort

by Deidre Woollard (RSS feed) —

Filed under: Estates, Luxury Travel & Hotels

Reno, once the divorce destination of America and then mostly perceived as a scrubby version of Vegas seems poised for a revitalization. The former Reno Hilton will now be home to the Grand Sierra Resort and Convention Center, a four-star development that includes two condo/hotel towers, a casino, and waterparks. The resort is on 148 acres with a 38-acre lake and includes a spa, restaurants, shopping areas and family friendly amenities such as a bowling alley, aquatic golf driving range, and a children's adventure center. The resort also has a dinner theater and a wedding chapel. The Grand Sierra Resort is selling condo hotel rooms on the top floors of the existing 27-story Sierra Tower at prices ranging from $260,000 to $1,250,000.

Tags: casino, condo, grand sierra resort, GrandSierraResort, nevada, reno

New Casino Resort Planned For Costa Rica

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

Is a casino in a place rich with natural beauty defeating the purpose? After all, casinos are often designed to help us ignore the siren song of the world outside. The Thunderbird Resort brand is planning a new casino-resort project in Costa Rica. The "Thunderbird Resort - Tres Rios" will be located on scenic land near Costa Rica's capital city, San Jose. The property is one of the only available locations zoned for tourism development and is across the highway from the "super mall" called "Terra Mall". The Tres Rios project will include a luxury resort hotel, a Las Vegas style casino, convention center, spa and health club as well as commercial real estate and a private residential community.

Tags: casino, costa rica, resort, thunderbird resorts, ThunderbirdResorts

Should Gettysburg Get A Casino?

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

This is a fitting topic for Independence Day, one of the most historic spots in the United States could soon become the neighbor of a massive casino project. Crossroads Gaming Resort and Spa is a four-star hotel, luxury spa, and restaurants located nearly three miles from the historic Gettysburg battlefield. ABC News reports that plans for the resort were first presented a year and a half ago but that some balk at the idea of a casino so near to this site. Preservationists and Civil War history buffs are predictably up in arms but locals are divided, some feel that the benefit to the local economy is needed. Local lawmakers recessed for the summer without voting on a gambling bill that could put an end to the project.

Tags: casino, crossroads gaming resort, CrossroadsGamingResort, gambling, gettysburg

Charlie Palmer's Vegas Hotel

by Nicole Weston (RSS feed) —

Filed under: Dining, Estates, Luxury Travel & Hotels

Chef Charlie Palmer already owns a hotel in Healdsburg, a city in the northern California wine country, but he is planning to take his celebrity chef status to a new level in Las Vegas by opening a hotel/condo complex that will bear his name. This venture is a step apart from other chefs, who have contented themselves with lending their names (and occasionally their actual cooking) to restaurants in hotel-casinos up to this point. Palmer's project will be built on the site of the casino known as the "Golden Palm." Instead of the 6-story building that now sits there, Palmer's complex will be 33-stories high, have 400 hotel/condo units and three restaurants on site, including a sushi bar. In total, construction should cost $400 million and Palmers expects it to be completed by 2008.

Palmer's new digs will not have a casino on the premises, but with one celebrity chef carving a new and glamorous niche in Vegas, how long can it be before other chefs follow suit and expand upon the idea? Ducasse Towers? Emeril's Kicked Up Casino?

Tags: casino, celebrity chefs, charlie palmer, chef, hotel, las vegas

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