Jan. 19–More details have been released about Resorts World Las Vegas, the center-Strip megaresort that will be built on the site of the unfinished Echelon Place. The investment package will include a total re-branding of the property with an Asian theme, including a replica of the Great Wall of China and a panda enclosure.
While there’s still no specific start date, the reinvention of the partially built property on the site of the former Stardust will take place in stages, with an initial groundbreaking planned for this year and Phase I completion scheduled for 2015, with the entire resort coming on line in 2016.
The price tag, which had been reported as being anywhere from $2 billion to $7 billion, was announced to be “up to $4 billion.”
–WSOP 2014: Details have been released for the 2014 World Series of Poker, which will kick off May 27 at the Rio and run for 29 consecutive days. This year’s Main Event will run July 5-14, and after a year’s absence, the $1 million buy-in Big One for One Drop will return to benefit the clean-water charity One Drop.
–New Border Grill: The Strip’s second Border Grill will open this spring in the Forum Shops at Caesars Palace in the spot that used to be P.J. Clarke’s. Las Vegas’ first Border Grill is at Mandalay Bay.
–Juice at Palazzo: Rare for casinos, a juice bar has opened at the Palazzo. JuiceFarm offers fresh juices, smoothies and “Rescue Remedy Kits,” purported to aid with hangover recovery.
Question: It was recently reported that Las Vegas casinos lost money last year. What does that say about the adage “the house always wins”?
Answer: The casinos didn’t lose money gambling, but expenses exceeded combined gambling and nongambling revenue for the fifth year in a row. The Strip casinos had a net loss of $1.5 billion, much of which was attributed to “financial restructurings” in 2012.
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