Belief in Vegas
One of America’s iconic casino and entertainment giants likes what it sees in the crystal ball for Las Vegas and is injecting $1bn into its properties as part of an aggressive long-term strategy.
“very bullish” on the future of Vegas
Amid economic challenges and uncertainty, and President’s Trump’s first month in charge prompting trade actions that could shatter the global economy, news of Caesars Entertainment’s big spend reflects the firm’s confidence that it feels “very bullish” on the future of Vegas.
The Reno-based behemoth has also put its money where its mouth is, with Caesars on course to spend $1bn on Vegas in the post-pandemic era.
The strategic modernization of all of Caesars’ eight Strip properties features upgrades on casino floors, rooms, leisure options, and even renovations to historic hotels. The biggest injection of funds has gone into Caesars’ flagship casino hotel.
The Las Vegas Review-Journal cited Caesars Entertainment’s Las Vegas Regional President Sean McBurney as stating work on refurbishing Caesars Palace started “right out of COVID.”
Jewels in the crown
Caesars’ major spending spree on the 58-year-old casino hotel post-COVID includes renovations to the Palace’s main entrance, casino dome, and hotel lobby.
McBurney added that Caesars Palace was unique in that it “plays in the luxury segment, but it’s approachable luxury.” He said that the property has “something for everyone,” borne out by the Aureus Lounge and Palace Court high-limit gaming rooms introducing catering for guests in the last six months.
McBurney also told the Review-Journal that a new poker room would open at Caesars Palace “before the World Series of Poker starts” in the late spring.
transformation of the Jubilee Tower at Bally’s into the Versailles Tower at Paris Las Vegas
Caesars is also excited about adding three new restaurants to the Flamingo as well as a $20m upgrade of its pool area. The $100m investment that witnessed the transformation of the Jubilee Tower at Bally’s into the Versailles Tower at Paris Las Vegas has been another win for Caesars with its balcony rooms overlooking the Strip.
“Repurposing the Bally’s tower to Versailles Tower has just been an absolute home run,” McBurney said
Sports the driver
Like many other gaming executives in Las Vegas, McBurney believes Sin City’s pivot to sports has been “incredible” for the US gambling capital and is driving casino players to invest in the future.
“What sports has done is given all of us just such a great reason for our customers from across the country and around the world to come to Las Vegas.”
According to reports this week, the NFL liked Vegas’ hosting of last year’s football showpiece so much that it is targeting Sin City to host 2029’s Super Bowl LXIII.