Venue Notes: Tropicana Regroups, Venetian Revamps
Staff -- Tradeshow Week, 5/15/2008 2:56:00 PM
• Tropicana Entertainment, owner of the Tropicana Casino & Resort, has filed for Chapter 11 bankruptcy protection. The Kentucky-based company sought protection earlier this month after a series of problems that included a missed interest payment on a $1.32 billion loan with Credit Suisse. Company President Scott Butera said financial problems resulted from Tropicana losing its New Jersey casino license in December, the slow economy and plummeting real estate values. All 11 Tropicana properties, including the Tropicana Casino & Resort in Las Vegas, will continue to operate at current staffing levels as the company reorganizes and works to pay off debts incurred with the $2.1 billion buyout of Aztar Corp. in January 2007. The filing covers nine properties in Nevada, Mississippi, Louisiana, Indiana and New Jersey.
• Las Vegas Sands Corp. has completed a $100 million room design and renovation at the Venetian Resort-Hotel-Casino. Approximately 3,000 of the property’s 4,027 all-suite rooms have been updated with a modern European design, including luxury and high-tech amenities. The project began in early 2007 and was completed two months prior to the opening of the neighboring Palazzo Resort-Hotel-Casino in January.
• The M Resort, Spa and Casino has announced plans for its meeting and conference center. Scheduled to open in spring 2009, the $1 billion South Strip property will offer 60,000 sq. ft. of flexible meeting and conference space. Plans include four meeting rooms ranging from 3,000 to 5,000 sq. ft., a 405 sq. ft. boardroom, 17,000 sq. ft. ballroom and an outdoor event piazza with a built-in stage. Geared toward small to mid-sized meetings and events, groups are already booking through 2009. The M Resort will have 390 rooms and suites.
