Casino operator Caesars Entertainment plans to spend $75m gussying up Caesars Palace in Las Vegas, despite its owner being mired in highly contentious bankruptcy proceedings.
On Friday, Caesars announced it would give the 50-year old Caesars Palace a badly needed facelift. The renovation will focus on the property’s hotel rooms, some of which haven’t been upgraded in 15 years. Once complete, the upgrade will add 20 extra rooms to the original 567-room Roman Tower, which will be rebranded as ‘Julius.’
Caesars Palace, which opened in 1966, is the flagship property of Caesars Entertainment Operating Co (CEOC), which filed for Chapter 11 bankruptcy protection in January, citing $18.4b in debts. It’s unclear whether CEOC or its parent company Caesars Entertainment Corp (CEC) sought permission from US Bankruptcy Judge Benjamin Goldgar to allocate the $75m for the facelift.
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