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Harrah’s Entertainment continues construction progress on $1 billion Caesars Palace NV hotel.  Even though last quarter’s loss was almost $100 million, they continue with their expansion of convention space and a new hotel casino tower.

In the past month other hotel chains have reported they are halting expansion including Echelon resort, a $5 billion version of New York’s Plaza Hotel. Crown Las Vegas and Morgan’s Hotel Group.  Last year’s net profit during the same quarter was $237.5 million.  Revenues for Harrah’s during the second quarter declined year to date 3.7 percent or $2.6 billion.

Continue reading Harrah's Continues Construction On $1 Billion Caesars Palace NV Hotel

Las Vegas sports arena unveiled by Harrahs and AEG this week. A $500 million, 20,000 seat, privately financed venue will be built a block from the Las Vegas Strip. The 10 acres of land is located behind Paris and Bally’s resorts that is owned by Harrahs. The arena in Las Vegas, Nevada real estate is expected to start construction next summer after the agreed letter of intent between the two companies, and the completion of the paperwork.

Last month a similar arena was discussed by the City of Las Vegas and they chose REI Neon/Warburg Pincus developer for the 22,000 seat publicly funded sports arena in Downtown Las Vegas, NV. Continue reading $500 Million Las Vegas 22,000 Seat Arena Unveiled By Harrahs And AEG