Bill’s Gamblin’ Hall has been a staple of the Las Vegas strip since it was first opened. However, it was recently announced that it will close down on February 4 for renovation, and will be renovated into a boutique property that is expected to open in early 2014. You now spent was made by the owner of the Caesars Entertainment Corp., the company that owns the property. The company had lined up as much as $185 million in financing in order to renovate the property. The property currently has 199 rooms available for rent, and is a lifestyle gaming hotel and casino that features a 65,000 ft.rooftop pool, and also functions as a day club and nightclub.
The excitement around the funding that they were able to receive was apparent throughout the announcement. The newly renovated property will utilize the services of the Victor Drai’s Drai Management Group, a popular nightclub management group that has been involved in some of the largest nightclubs throughout the Las Vegas area. Details released include that the property will be closing down on February 4, and a projection that the property will be able to employ more than 1000 people in total. In all, the renovations are going to include the remodeling of all of the guest rooms in the building, the casino floor will receive a revamping and many new additions, and many of the common areas such as the second-floor restaurant are going to be receiving a complete renovation throughout the process.
“This project exemplifies our strategy to develop new experiences that will help attract a broader spectrum of visitors to Las Vegas and our properties,” Caesars CEO Gary Loveman said in a statement. “The renovated property will provide visitors with a sophisticated, upscale experience, including a unique rooftop pool and club, which will have a panoramic view of the Las Vegas Strip.”
Currently, there are about 600 people that are employed at the property. The company also announced that they are helping the 600 people that are currently working at the property to find alternate employment during the closure. They have filled positions at other resorts within Las Vegas, and have more than 10,000 open positions nationwide, meaning that they should be able to accommodate all 600 employees from Bill’s Gamblin’ Hall during the year-long closure. They are also reaching out to neighboring resorts in Las Vegas to see if they have positions for experienced individuals that are open. Also, when the property reopens, all previous employees will be invited to apply for a variety of different jobs that will be available at that time.
The analysts at Standard and Poor’s responded to the news of the renovation project by stating that while there were some risks involved as there is with almost any development project, this particular project has many advantages including the location and plans by Caesar’s to included in its national rewards customer loyalty program, which allows the company to attract visitors that are interested in growing the rewards that they receive through the customer loyalty program that is been so effective for the company since being implemented.