Harrah's close to buying Imperial Palace [UPDATED: DONE DEAL] [Archive]

yahoo

08-18-2005, 09:30 AM

I wouldn't get too worked up over this article. This is the same column that reported that HET was trying to sell off Caesars and Rio- seems like part rumor mill to me. Besides, the guy doesn't have his facts straight- RALPH Engelstad owned the IP until he died, not Richard.

kitson

08-18-2005, 03:18 PM

lvrj columnist norm clarke also reported the same thing, on another site. 20 acres, imagine what could be done on that site with 20 acres, and lots of other properties to steer your clientele toward while you destructed and constructed!

GREGRIO

08-18-2005, 04:20 PM

20 acres will hold a pretty big sign.....
HARRAH'S IMPERIAL HORSESHOE HOTEL AND CASINO

sin

08-18-2005, 11:39 PM

Robkno

08-19-2005, 06:13 AM

Harrah's purchase=bad for Vegas. I hate to see yet another prime piece of Strip real estate turn to the Dark Side.

Harrah's purchase=good for IP Biloxi. When it was built, I'd never seen such a large new resort turn into such a dump so quickly (see my post here) (http://www.travel2vegas.com/forums/showpost.php?p=121870&postcount=5), virtually from Day One. The Biloxi IP doesn't have the prime location IP Vegas, and any new investments/upgrades there would be an improvement. Trust me, it can't get any worse.

I hope the rumblings about MTR selling Binion's doesn't hurt employee morale or service there (especially since I'm staying there tomorrow and Sunday nights). Good grief, that place needs stable ownership. Perhaps Landry's or Boyd could help it get its groove back. If Boyd took it over, it would be interesting to see if they filled it up with 50th-staters. Aloha! :peace:

DonD

08-19-2005, 06:55 AM

Heard a rumor that the Barbary Coast was going to come down also. They say that property is worth way too much money and they want to put a bigger and nicer hotel there.

AStack75

08-19-2005, 07:17 AM

Lets assume this does go through. What would typically happen to my IP comp dollars? I have a good amount is the reason I'm asking.

vegasbound

08-19-2005, 08:49 AM

Lets assume this does go through. What would typically happen to my IP comp dollars? I have a good amount is the reason I'm asking.

If Harrah's took over IP and included it in their reward credits program. Your IP comp dollars would be converted to reward credits. In 2006, all of Caesars properties will make the switch, all comp dollars earned at those properties will be given a value and turned into reward credits. If people accumulate enough, they will be upgraded to the higher tier...

dub_sup

08-19-2005, 09:36 AM

I sure hope the article is WRONG!!!

Based upon what I have been reading about Harrah's and their comp policies, I think it will hurt low rollers like me. I love the IP because they have a generous comp policy and treat me very well.

Rich

AStack75

08-19-2005, 09:56 AM

I agree with you. Although I doubt I would stay there again since the hotel is rather dumpy, I still do much of my gambling at IP because they comp generously.

Saskatoon

08-19-2005, 11:34 AM

NOOOOOOOO! Soon there will be no place left for those of us who can't afford to stay at the "good" properties. For crying in the mud, I can't afford MC or TI--I'm guessing it's the Ho for me from now on...... Fucking Harratics!

6 years ago I stayed at MGM Grand, last year I stayed at Imperial Palace. This year I'm staying at the Ho. Next year it'll be downtown. Then when that gets too expensive I'll just have to find a new place to vacation :(.

How about Mesquite?

Hunter

08-22-2005, 04:52 PM

This is a done deal:

http://biz.yahoo.com/bw/050822/225770.html?.v=1

SH0CK

08-22-2005, 05:06 PM

Let the specualtion begin http://www.bleedinedge.com/forum/images/smilies/wut.gif

AStack75

08-22-2005, 05:22 PM

Oh well. Hopefully my IP points/dollars will be worth something once this is all said and done.

Scott R

08-22-2005, 05:30 PM

I feel a great disturbance in the force.
Another has gone over to the dark side.

SH0CK

08-22-2005, 06:16 PM

Oh well. Hopefully my IP points/dollars will be worth something once this is all said and done.You might want to consider redeeming them before Harrahs switches them over to the Total Rewards program sometime next year. It's highly unlikely that they will convert them over to TR points, but I could be wrong.

AStack75

08-22-2005, 07:43 PM

Yeah...had I known this was coming, I would have done it when I was in Vegas 2 weeks ago. Now I probably won't be back until next spring. Oh well.

doctor_al

08-22-2005, 08:48 PM

The future of the strip looks kinda grim. Which one do you want to stay with, the folks who will be famous for undoing the Mirage or the ones who will be famous for undoing Caesars? 'Cuz you're gonna have to pick one.

Here's a map for the low rollers who are going to need a new home:
http://www.elcortezhotelcasino.com/categories/8580AF0C-2541-4C3B-BBEB525E38309C46/location_map.html

DonD

08-22-2005, 11:25 PM

Bad news, the El Cortez craps minimum has gone up to $3.

AStack75

08-23-2005, 06:42 AM

Here's a Review-Journal column about the acquisition....

http://www.reviewjournal.com/lvrj_home/2005/Aug-23-Tue-2005/news/27091901.html

duffelbag don

08-23-2005, 09:55 AM

This blows beyond comprehension.

Now they've acquired the IP. How long before BC and the Casino Royale fall victims to the money dozer of doom. Take them two out and the east end of the Strip from MGM to the Wynn offers no low roller joints anymore.

doctor_al

08-23-2005, 11:51 AM

BC, IMO, will never go to the empire now that Boyd owns it (via Coast casinos). It's their toehold in the middle of the strip. Now if Boyd or Stations gets the Trop, IMO that's a good thing.

DonD

08-23-2005, 11:59 AM

When I was in Vegas just last week, Tim the Bartender told me that they (Coast) had decided to replace the Barbary Coast with a much larger hotel/casino. He also said that there was a small article in the paper about it.

YoungGun

08-24-2005, 01:07 AM

First the Caesars properties, now IP? Why must you deprive me of my measely comp dollars Harrahs? Why?

stuffic

08-24-2005, 10:32 AM

Hey...is that the reason that my points did not accumulate as quickly as in the past? When I was playing at Ceasars this past June, I noticed the points on my card accumulating much slower...I thought it was because I was playing less (duh!)
No wonder you all call Harrah's the Evil Empire!

vegasbound

08-24-2005, 10:40 AM

To date, Caesars comp system has not yet changed. The conversion to Total Rewards system will not occur until 2006.

Robkno

08-25-2005, 09:52 PM

I read a while back where the Harrah's CEO said he didn't think it made much sense them have too many brand names out there, and that plans are already in the works to fold Bally's and the Grand Casinos in Mississippi into the Horsehoe and Harrah's brands.

I wonder if that means IP will keep keep the same name/theme or be folded into either Harrah's or Flamingo as an expansion of either property?

I read where Boyd is planning some new (and very vertical) for the Barbary Coast real estate after South Coast gets up and running.

AStack75

08-25-2005, 11:40 PM

FYI...

I emailed IP and Harrah's asking what will happen with the IP comp dollars once the acquistion is completed. I also mentioned that I understand that both sides probably don't know at this stage of the game what the answer is. But I did get a response from IP:

"I have not heard anything about changing how our club works. If you would
like to check back in 4 to 6 weeks I will be able to give you more
information.
Thank You,
IP Player Club"

So...I'll follow up in 4 to 6 weeks and tell you what I hear.

dcavisitor

08-30-2005, 01:49 PM

I have recently read 2 distinct differences in opinion about what will happen to IP. One theory goes: IP is for low to mid-rollers and Harrah's won't attempt too many changes to this formula. There won't be many changes in store for the property and Harrah's will instead focus on re-habbing or re-branding Bally's or maybe Flamingo. A likely scenario is Bally's turning into a Horseshoe.

But an article I read today says IP will be demolished (this is the column on vegas4visitors.com). The author thinks IP could be turned into a Horseshoe, or, more likely that Harrah's LV will just expand into the IP space.

What do you all think will happen? Any bold predictions? I like IP in its current state. It's a fun spot for lower limits. I was there recently, and actually they've recently done some re-modeling, new carpeting, signage, etc. and the casino looks improved to me. Sucks to think they might just knock it all down.

YoungGun

08-31-2005, 03:49 AM

I really like the IP myself. I think the whole hurricane situation might play a part in the eventual outcome. Harrah's has 3 casinos in the affected area plus there is the IP Biloxi. Any future constuction in Las Vegas might have to wait awhile so they can get the affected casinos back on their feet. Any plans to tear down or dramatically rebrand IP, Ballys, or Flamingo will probably have to be put on hold at least for a little while. I could see some minor changes at Flamingo in the future and I think Bally's or Rio are leading candidates for some sort of retheme to Horseshoe. I could see them tearing down the IP, but with the recent upgrades they've done at the IP hopefully they'll keep it largely in tact. I'd like to see them let IP keeps its theme and maybe build some sort of easy access indoor walkway between Harrah's and IP similar to what Bally's has with Paris.

Robkno

08-31-2005, 05:16 PM

I read where Harrah's purchase of IP did NOT include the IP in Biloxi. It was just Vegas. That was probably a wise move, given the hurricane damage on the Gulf Coast and the amount of capital Harrah's will have to expend to rebuild its existing properties. Also, Harrah's might've run into regulatory troubles trying to run so many properties there, as they did in Tunica when they bought the Caesars/Park Place resorts.

lasvegas_limo_driver

09-03-2005, 11:49 AM

with harrahs/ rio purchasing up everything in site right now, look for them to be the dominating force in vegas soon

dcavisitor

09-06-2005, 12:47 PM

Have you noticed what MGM/Mirage has been buying up? :)

Robkno

09-06-2005, 05:43 PM

In terms of sheer hotel room inventory, yes, Harrah's is moving into a huge position. In terms of luxury hotel rooms, top-shelf entertainment, high-rollers, and resorts with "hipness", MGM Mirage still has them beat.

Caesars Palace is really the only luxury destination with "vibe" that Harrah's has. Paris is close, but I don't really put it into the same class with Bellagio, Mandalay Bay, or the Mirage. It's become more an upper mid-level strip resort. Same for Rio. Rio once had the vibe, but has since lost it.

That's not to say Harrah's couldn't change the dymanic by re-building and re-branding Ballys, Flamingo, or IP.