“We want to take so long to plan and build this, and get as many rooms ready as possible,” Earl said. “It’s about getting as many elements as possible, having as many tenants finish, and getting as many rooms ready as possible.” Speaking at an event in April to officially rename the property from Aladdin to Planet Hollywood Resort, Earl said the grand opening would take place from Sept. 28-29.
Earl cited scheduling conflicts with actors Bruce Willis, Sylvester Stallone, and other celebrities as a major reason for the change. Another reason is that Planet Hollywood hosted the world premiere of its new movie Resident Evil: Excitation on Sept. 20. Earl said he didn’t want the property to host two big events a week apart. The red carpet event, the first film premiere under the new owner, is part of a long-term business plan to hold a monthly film premiere.
Earl said the strip’s front square is scheduled to be completed on Sept. 28. Everything is already “100 percent funded,” he said. Nearly $1 billion is being spent to upgrade all aspects of the property. Some of the funding is from Credit Suisse First Boston. Nearly 1,500 hotel rooms will be remodeled and ready by November, with the remaining 1,100 scheduled for completion by early next year. Planet Hollywood has opened two new restaurants since April and will have three more by November.온라인카지노
Casinos have also been remodeled. A new poker room opened in May, and a new sportsbook opened in late August. Deutsche Bank game analyst Bill Lerner recently visited the property and said it looked much better than it did when it operated as an Arabian-themed Aladdin. “It’s always been a great location,” Lerner said. “Visually, it’s much more appealing. I loved the flow and layout of the casinos. They did a great job.”
Two new entrances are currently open along the strip to help with access. The property was purchased in 2004 by Planet Hollywood restaurant founder Earl and OpBiz, a joint venture of investment firm Bay Harbor Management and Starwood Hotels and Resorts Worldwide, for $496 million. Earl and Bay Harbor Management have an 85% stake in the property, with Starwood holding the remaining 15%.