Place to Build New Tower at
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.
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
Palace's total number of room accommodations to approximately
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
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.