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Planet Hollywood Las Vegas
Planet Hollywood Las Vegas (formerly the Aladdin) is a casino hotel on the Las Vegas Strip in Paradise, Nevada, United States. It is owned and operated by Caesars Entertainment. The resort includes a 64,470 sq ft (5,989 m2) casino and 2,494 hotel rooms. It also features the Miracle Mile Shops and PH Live, a 7,000-seat entertainment venue.
The site of Planet Hollywood was previously occupied by the Aladdin, an Arabian-themed hotel and casino which operated until 1997. Real estate developer Jack Sommer demolished the Aladdin in 1998 to make way for a new version, with London Clubs International as his partner. The new Aladdin opened on August 18, 2000. It suffered immediate financial problems, eventually filing for Chapter 11 bankruptcy in September 2001.
Planet Hollywood International and Starwood Hotels took over ownership in 2004, and launched a renovation to convert the property into a Planet Hollywood resort, a project which concluded in 2007. The resort suffered further financial problems amid the Great Recession, with Caesars taking ownership in 2010.
The property was initially the site of the Tallyho Hotel, which was developed and opened in 1962 by Edwin S. Lowe, a businessman and toy manufacturer. The Tallyho was one of the few major hotels in Nevada at the time without a casino, a decision that contributed to its failure. In 1963, the property was sold and renamed the King's Crown Tallyho. Plans to add a casino were canceled when the Nevada Gaming Control Board declined to issue a gambling license, due to concerns about inadequate financing.
Milton Prell, a prominent Las Vegas gaming figure, purchased the property, added an Arabian Nights theme, and reopened it as the Aladdin on April 1, 1966. The Aladdin included a casino, various dining venues, a 500-seat showroom, and an adjacent golf course. It became known for hosting notable events, including the wedding of Elvis Presley and Priscilla Beaulieu in 1967.
Throughout its history, the Aladdin faced financial difficulties and numerous ownership changes. In 1994, the property was purchased by Las Vegas real estate developer Jack Sommer and the Sommer Family Trust. In 1997, Sommer partnered with London Clubs International (LCI) through his company, Aladdin Gaming. Plans were announced later that year to demolish the Aladdin, replacing it with a new, larger version. The original Aladdin closed on November 25, 1997, and was imploded on April 27, 1998. The Aladdin Theatre (now PH Live) was retained and incorporated into the new resort.
Fluor Corporation was hired to design and build the new Aladdin. In February 1998, Aladdin Gaming finalized a financial plan for the resort, expected to cost $826 million. Planet Hollywood International also planned to develop a music-themed resort known as Sound Republic, which would be built behind the Aladdin. However, the music project was canceled at the end of the year after Aladdin Gaming ended its partnership with Planet Hollywood, citing financial concerns.
Sommer Family Trust and LCI agreed to share cost overruns on the Aladdin project based on their ownership percentages. LCI, initially owning 25%, increased its stake after Sommer was unable to fund his share of the overruns. Design changes, including a larger pool area and moving the resort closer to the Las Vegas Strip sidewalk, also contributed to the increased cost, which ultimately totaled $1.4 billion. The cost did not include an attached shopping center known as Desert Passage, which was separately owned.
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Planet Hollywood Las Vegas
Planet Hollywood Las Vegas (formerly the Aladdin) is a casino hotel on the Las Vegas Strip in Paradise, Nevada, United States. It is owned and operated by Caesars Entertainment. The resort includes a 64,470 sq ft (5,989 m2) casino and 2,494 hotel rooms. It also features the Miracle Mile Shops and PH Live, a 7,000-seat entertainment venue.
The site of Planet Hollywood was previously occupied by the Aladdin, an Arabian-themed hotel and casino which operated until 1997. Real estate developer Jack Sommer demolished the Aladdin in 1998 to make way for a new version, with London Clubs International as his partner. The new Aladdin opened on August 18, 2000. It suffered immediate financial problems, eventually filing for Chapter 11 bankruptcy in September 2001.
Planet Hollywood International and Starwood Hotels took over ownership in 2004, and launched a renovation to convert the property into a Planet Hollywood resort, a project which concluded in 2007. The resort suffered further financial problems amid the Great Recession, with Caesars taking ownership in 2010.
The property was initially the site of the Tallyho Hotel, which was developed and opened in 1962 by Edwin S. Lowe, a businessman and toy manufacturer. The Tallyho was one of the few major hotels in Nevada at the time without a casino, a decision that contributed to its failure. In 1963, the property was sold and renamed the King's Crown Tallyho. Plans to add a casino were canceled when the Nevada Gaming Control Board declined to issue a gambling license, due to concerns about inadequate financing.
Milton Prell, a prominent Las Vegas gaming figure, purchased the property, added an Arabian Nights theme, and reopened it as the Aladdin on April 1, 1966. The Aladdin included a casino, various dining venues, a 500-seat showroom, and an adjacent golf course. It became known for hosting notable events, including the wedding of Elvis Presley and Priscilla Beaulieu in 1967.
Throughout its history, the Aladdin faced financial difficulties and numerous ownership changes. In 1994, the property was purchased by Las Vegas real estate developer Jack Sommer and the Sommer Family Trust. In 1997, Sommer partnered with London Clubs International (LCI) through his company, Aladdin Gaming. Plans were announced later that year to demolish the Aladdin, replacing it with a new, larger version. The original Aladdin closed on November 25, 1997, and was imploded on April 27, 1998. The Aladdin Theatre (now PH Live) was retained and incorporated into the new resort.
Fluor Corporation was hired to design and build the new Aladdin. In February 1998, Aladdin Gaming finalized a financial plan for the resort, expected to cost $826 million. Planet Hollywood International also planned to develop a music-themed resort known as Sound Republic, which would be built behind the Aladdin. However, the music project was canceled at the end of the year after Aladdin Gaming ended its partnership with Planet Hollywood, citing financial concerns.
Sommer Family Trust and LCI agreed to share cost overruns on the Aladdin project based on their ownership percentages. LCI, initially owning 25%, increased its stake after Sommer was unable to fund his share of the overruns. Design changes, including a larger pool area and moving the resort closer to the Las Vegas Strip sidewalk, also contributed to the increased cost, which ultimately totaled $1.4 billion. The cost did not include an attached shopping center known as Desert Passage, which was separately owned.