10 Most Expensive Casino Renovations
1. Las Vegas Palms Casinos Resort- $620 Million
The Las Vegas Palms Casino Resort, established in 2001, is among the World's most iconic art hotels. It has hosted several high-profile gamblers and celebrities like Britney Spears, thanks to MTV's Real World: Las Vegas.
However, after a decade in operation, the resort began struggling under the weight of debt worth $459 million. The owner George Maloof restructured the debt by entering a partnership with TPG and Leonard Green & Partners. After a few months, the group secured a 98% controlling interest in the casino.
In 2016, Lorenzo Fertitta and Frank bought the resort for $312.5 million. Later, they invested $620 million into renovating the property. As a result, making it one of the most expensive resort renovations to date.
Today, the casino feature works from famous artists like Andy Warhol, Damien Hirst, and Jean-Michel Basquiat. Other renovations include a three-floor spa, entertainment venues, and the Palm's Day and nightclub.
2. Harrah’s Las Vegas Casino - $200 Million
Located in Las Vegas Strip in Paradise, Harrah’s Las Vegas is a world-class casino and hotel that provides a perfect spot to explore Las Vegas. It offers live shows, a wide choice of dining, an outdoor pool, and more.
The casino, formerly known as Holiday Casino, got established in 1973 by Shelby and Claudine Williams. Since its establishment, the casino has been a hot spot for several celebrities, including Sandra Bullock, Stephen Baldwin, Dick Butkus, and Sidney Poitier.
In 2020, the casino underwent a complete remodeling worth $200 million, which finished in 2021. Now the hotel features 2,542 redesigned guestrooms, two LED marquees, and a remodel. A sky bridge was also erected to connect Harrah’s and the Caesars Forum convention facility.
Besides that, guests will love a variety of dining and entertainment offerings, such as Harrah’s Las Vegas Spa and others.
3. Flamingo Casino Las Vegas - $96.5 Million
Caesars Entertainment operates flamingo Casino Las Vegas. The company is a popular operator that spends millions on improving the design of its properties.
Flamingo Las Vegas is an iconic resort that helped to define the Las Vegas Strip. It’s filled with 70 years of rich history and memorable experiences. So, it made sense when the operator announced a $90 million renovation of the property.
Today, the property features 1,270 redesigned suites that pay homage to the property’s past as well as giving the resort a fresh and modern look. The operator also invested $6.5 million on a start-of-art meeting hub. The hub spreads across 73,00 sq ft of space and features an innovative design.
4. Sands Cotai Central–$1.1 Billion
Sand Cotai Central in Las Vegas is owned and operated by Las Vegas Sands Corporation. But this property was one of its weakest properties because it lacked character and tourist appeal compared to other properties.
The company invested a staggering $1.1 billion on renovations of Sand Cotai Central and other properties in the World’s largest gambling hub.
The company renovated the Sands Cotai Central into a Luxurious London-themed casino and hotel spot. It also changed the casino’s name into The Londoner.
5. MGM Grand Detroit – $650 Million
In 2016, MGM Resort and Sydell Group announced they’re planning to invest $650 million into the transformation of the property.
In 2018, the two hospitality companies finished the remodeling project. This resulted in a new hotel experience, featuring a new luxury resort, Park MGM, and the Las Vegas version of Sydell’s NoMad Hotel.
The NoMad Las Vegas now features 292 rooms and suites, a drop-off lobby, and a swimming pool. Also, the property offers separate dining, drinking, and gaming experiences. The Park MGM includes an outdoor dining and entertainment district. These new changes to the casinos add more value to the property besides gaming.
6. Strat’s Casino - $100 million
The $100 Strat’s Casino renovation project started in 2019 and took just one year.
The renovation resulted in the revamp of the casino, guest room, casino, and more. It also helped the resort stay competitive by offering visitors a unique full-resort experience.
The 80,000 sq ft foot casino now boasts a new color scheme and open layout. Also, the company expanded the food and drink options. Guests will love the cocktail bar and high-end restaurant that includes a new menu, furniture, and carpet.
7. Golden Gate Hotel & Casino
The Golden Gate Casino is perhaps one of the oldest casinos on the Fremont Street Experience. It was established in 1906 in Nevada as Hotel Nevada. It later got renamed Golden Gate in 1955 and Golden Gate Hotel & Casino in 1974.
In 2006, the Stevens brother brought the property. The brothers were committed to transforming the experience of guests visiting Downtown Las Vegas. So, they embarked on the redesigning of their property and other neighboring properties.
However, the most significant renovation came in 2017, when the brothers closed the casino for a week. During that period, they doubled the gaming area size and added an eye-popping 24-foot TV tower centerpiece. Also, they expanded Golden Gate’s iconic One Bar at Fremont Street by 20 feet.
The brothers opened the property after 106 hours of renovation. They integrated the old design of the casino with modern design to create a thrilling nostalgic feel packed with the excitement of the modern world.
The Stevens Brothers never disclosed the amount of money spent on improving the hotel and casino.
8. Encore at Wynn Macau - $650 Million
Wynn Resorts Limited is one of the most renowned casino operators in America. It builds and owns some of the most high-end hotels and casinos in the country. One of its famous properties is Wynn Macau Resort, a high-end casino that’s been operational since 2006.
However, with the increased competition, the casino revenue decreased. So, the company expanded by building a second tower named Encore at Wynn Macau in 2010.
The building features the same interior as that of Wynn Las Vegas. Also, it includes more than 410 suites and nearly 41 Grand Salon suites. Encore at Wynn Macau is now one of the most popular high-end casinos in Macau.
9. The Palazzo - $150 Million
After its launch in 2007, Palazzo casino became the most popular entertainment center for gamblers.
But, the renovation of Monte Carlo Resort and Casino or Park MGM and construction of NoMad Las Vegas meant more competition for the casino. The only way the casino was going to top the competition was to undergo a complete remodeling.
The operator invested $150 million into redesigning the 60,000 sq ft of casino’s gaming floor carpeting, wall and ceiling paint, and other renovations. The bars also had a major overhaul.
10. Mystic Lake Casino Hotel - $90 Million
Mystic Lake Casino Hotel is not a number one destination for gamblers. However, it receives lots of visitors yearly, so it makes sense for the operator to renovate it.
In 2017, the property owner invested $90 million into expanding the complex. This transformed Mystic Lake Casino and Hotel from a small entertainment complex into one of the Twin Cities’ biggest hotels.