Update: Looks like the deal is done and only one tower will become timeshares.
LVH has been on the market for a while now with rumblings on who will buy it. Over the past few weeks the rumblings have gotten louder that Westgate, the timeshare company, would be purchasing LVH.
Since the only people reporting this are gossip columnists like Johnny Kats, Norm Clarke and Robin Leach I wouldn’t consider this a done deal just yet. These aren’t traditional reporters as much as they’re gossip gatherers and rumor mongers. This sale could be true but their job is to share rumors, not report facts.
The rumor that the LVH was sold for $150 million is a bit of a surprise on the low side. For reference, the beautiful Cosmopolitan was sold to Blackstone for 10x that amount, $1.7 billion. The comparison isn’t apples to apples just a point of reference. Since these are just rumors there isn’t any real information about the sale.
Westgate is a timeshare company and not a casino operator. Westgate currently operates the timeshare behind the Flamingo. They took a big swing at opening the 2nd tower at Planet Hollywood but the recession killed that after a short run. It’s now called Elara.
Timeshare’s are typically livable apartments with kitchens, dining rooms and living rooms. They’re not outdated hotel rooms with minimal amenities and a casino with a few restaurants. If the idea is to make LVH into 100% timeshare units Westgate might have to close the hotel and combine two hotel rooms to make one giant suite. That’s a lot of work and a lot of money.
This is an interesting move for Westgate. Will they close the casino and hotel and renovate all of the rooms and casino floor? Will they find a partner to operate the casino and a hotel tower? With the connection to the Las Vegas Convention Center will they operate LVH as a traditional hotel only property?
There really are a lot of options for Westgate if this rumor is true.
Extra” exclusively confirms that Britney Spears’s Las Vegas show will in fact be held at one of Caesars Entertainment Group’s properties.
Sources told “Extra” the show would most likely take place at Planet Hollywood, where “Extra’s” Las Vegas bureau is located.
This rumor has heated up in the past few months and it was easy to tell that it would be true this time because it came from a source that wasn’tRobin Leach, who’s about 50/50 with rumors. In typical mainstream marketing this was dragged on to include all of Caesars’ Las Vegas properties to make it seem that she’ll be potentially sharing the stage with Celine and Shania at Caesars Palace. That never made sense, aesthetically, since she does not share an audience with either performer.
Planet Hollywood was always the landing spot for Britney. It makes too much sense for it not to be. There’s a 4,500 seat venue available, the casino markets celebrity culture and when people decide that they don’t care anymore she can segue to Peepshow.
Seriously, I’m stoked for this to finally happen and can’t wait for details.
I don’t like passing on rumors, but if I see or hear the same rumor enough times I figure that there must be fire near all the smoke. The most recent rumor is that the Playboy Club, which is closing at Palms, will be re-opening next year at Cosmopolitan. First there was a comment on the story at the Las Vegas Sunand then there was a tweet from Global Gaming Biz, which also pointed to the story in the Sun. More recently the often inaccurate Robin Leachtweeted that he’s hearing the same rumor.
While the sources of this rumor aren’t the most reliable the addition of the Playboy Club to the Cosmopolitan doesn’t seem too far fetched given the recent changes going on at Cosmo. With the person that brought in all the “cool” entertainment recently leaving Cosmo and the addition of the EA Sports Bar the the hip factor seems to be leaving Cosmopolitan slowly, but surely.
The addition of the Playboy Club would fall in line with unhip, but seemingly popular addition of the EA Sports Bar. It would also continue the shift away from hip non-gamblers that are visiting the casino. While it may not be the most hip club and brand the Playboy Club was certainly popular and would draw a different demographic. Potentially a demographic of people that may gamble.
This is all just rumor from various places that don’t seem reputable, but the Playboy Club moving to Cosmopolitan seems very possible.
Robin Leach reports, “exclusively” that Holly Madison signed a contract extension to do Peepshow at Planet Hollywood for another year.
Producers of Holly Madison’s adult revue Peepshow at Planet Hollywood have just renewed her contract for all of next year, and additionally were so pleased with her Holly’s World co-star Angel Porrino’s one-week guest-starring run that they’ve signed her for nine weeks of appearances next year to fill in again when Holly takes her vacations.
I don’t know if Holly Madison is talented or if Peepshow is any good, but another year of Holly Madison on TV and in the news can only be a good thing.
All I know about Angel Porrino is that she was Holly’s assistant on Holly’s World and then got fake boobs. I just learned that she was part of Peepshow for a week.
Bill’s Gambling Hall & Saloon, formerly Barbary Coast, is getting cleaned up and rebranded by Harrah’s or maybe even another company.
I’m (Robin Leach) hearing exclusively from very reliable sources that the 4.3-acre property is part of a staggering deal with a major nightlife entertainment force, and everything including the 17,200-square-foot casino will get a major overhaul from top to bottom. When the news is officially announced, it will rock the nightlife scene.
Bills/Barbary Coast has never gotten my interest. In fact, the only time anyone mentions this place is because of Drai’s. A makeover to fit that crowd might make a lot of sense. Since there isn’t a hotel component, I can see Bills being changed into a building with multiple clubs and gambling.
**UPDATE: Thanks for the heads up that there are actually hotel rooms at Bill’s. I’ve never been, but now I know better.
Robin Leach has been on fire with somewhat interesting rumors this past week. One of his quick hits this week is that Mandalay Bay and Las Vegas Hilton may have new owners soon.
I’m hearing that a group of well-heeled moneymen has decided that it’s time to start buying again in Las Vegas, and they have started discussions to bid on Mandalay Bay or the Las Vegas Hilton
There seems to be a few investors looking to get into Las Vegas casinos with properties being available at bottom dollar. Investor John Paulson has been the most recent money man getting in on the action, purchasing almost 10% of Harrah’s.
This is only rumor and it’s from Robin Leach, so I’m not going spend much thought on what the future may hold for the properties. I wonder who else is sniffing around.