Caesar's 1 Billion Expansion: New Tower, Shops & Restaurants

Harrah's, the owner of Caesars Palace, has finally unveiled their plans for the expansion of the property. Harrah's went in front of the Clark County Planning Commission on November 21, 2006 with their plan for a $1 billion expansion of Caesars Palace as reported by Mark Adams of Vegastodayandtomorrow.com. The plan is to add a new 29-story hotel with 1,017 rooms adjacent to their Palace Tower next to the pool in the back southwest corner of the property.

They also plan to upgrade the corner on Las Vegas Strip and Flamingo. Currently, the corner houses the ineffective Roman Plaza which will be torn down and replaced with 37,000 square feet of casino space and 110,000 square feet of retail shops and restaurants. (It's about time.)

In the front of the property, next to the Strip, the company plans to build a "pedestrian promenade", with several fountains and landscaping which will guide Strip-walkers onto Caesar's property. Underneath the promenade, Caesars will build an underground parking garage, with 389 valet-parking spaces.

Harrah's has not announced the start date for the project but unless the proposed private equity purchase by several suitors doesn't distract the company, it should be fairly soon. Harrah's needs to stay in the ballgame on the high end of the market, especially with The MGM & Boyd Properties building billion dollar projects on the Strip.

John Laub is the president of the CEO-CFO Group.

1. "Details Disclosed for Caesars Next Expansion." Mark E. Adams. Vegastodayandtomorrow.com. November 30, 2006.