Issue 37
May 22 - 28, 2001
Volume 1
page 1

This Issue

Gaming News
Park Place to Build New Tower at Caesars Palace

Stratosphere Casino Hotel and Tower to Add Outdoor Events Center

Atlantic City's Borgata
On Target for 2003 Open

Sun International Opens Zambia Hotels

Sands Hotel & Casino President Receives Award for Support of Royal Initiative to Combat AIDS

Columns
"Telling Lies and Getting Paid" Packed with Juicy New Gambling Tales

Show Time
Paul Simon will perform at The Event Center at the Mandalay Bay Resort Casino on June 22

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Park Place to Build New Tower at
Caesars Palace

LAS VEGAS, NV - Gaming giant Park Place Entertainment Corp. announced May 11 plans to build an all-suites hotel tower at Caesars Palace in Las Vegas.

The 29-story all-suites hotel tower will cost between $450 million and $475 million and will be located in the heart of Las Vegas strip. The new tower will feature approximately 900 suites and mini-suites, increasing Caesars Palace's total number of room accommodations to approximately 3,350.

The tower complex will include approximately 50,000 square feet of retail space and 70,000 square feet of meeting areas, as well as new restaurants and spa.

Construction on the tower will begin immediately and should be done in 2004.

Park Place recently announced plans to erect a new $65-million to $75-million entertainment venue at Caesars Palace. The Colosseum, 4,000-seat facility designed to resemble the Colosseum in Rome, is set to open in early 2003. The tower will complement the entertainment center and increase Park Place's Las Vegas presence.

Park Place Entertainment Corp. owns and managers 28 gaming properties under the Caesars, Bally's, Paris, Hilton, Grand and Flamingo brand names, with a total of 2 million square feet of gaming space, more than 28,000 hotel rooms and 57,000 employees worldwide.


Stratosphere Casino Hotel and Tower to
Add Outdoor Events Center

LAS VEGAS, NV - The Stratosphere Casino Hotel and Tower will add an outdoor event center as part of its $75 million expansion project.

The new venue will host headline entertainment and special events, such as world-class boxing, announced Stratosphere officials on May 21.

The outdoor event center will be located on the north side of the property - the entrance adjacent to the Stratosphere Buffet. The venue will seat 3,750 guests. Seating will consist of 2,140 bleacher seats and 1,610 chairs. Construction is scheduled to begin in late June with a launch date of early September.

The outdoor event center will feature headline entertainment and special events such as world-class boxing. "We will launch in September with one of the greatest acts around. We will be officially announcing the act and the dates in June,'' said Chuck Davison, director of marketing for Stratosphere. "Beyond the big name entertainment, we wanted a versatile venue for other events, namely boxing. We are currently working with a boxing promoter to finalize a deal for the fall.''

The outdoor event center is the final component of the Stratosphere's $75 million expansion project. The project also includes a 1,000-room tower with 100 suites, many with oversize spa tubs that overlook the Las Vegas Strip; a 67,000-square foot resort pool and recreation deck; the vintage Vegas-themed Lucky's Cafe; a Tex-Mex Grill and Oyster Bar; an expanded and improved buffet; and a full remodeling of the casino. The project will also include a new valet entrance and porte cochere, gift shop, and a tour and travel lobby.

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