Bally’s Palace Resort & Casino, which is owned by Caesars Entertainment Corp., has shown growth on the gambling side and on its site for everything from restaurant and spa development to the feasibility of a hotel.
But Nevada’s two other casino resorts — the Linq and Mandalay Bay — have also seen positive developments.
Caesars Corp. hired Michael Gennaro to run Bally’s earlier this year. Gennaro had run the Hilton Grand Vacations Association, and prior to that worked at the city of Washington, D.C.,’s Convention Center Authority. Gennaro’s first corporate event at Bally’s was June 11.
The property is located on land that sits next to Echelon Place, an upscale mixed-use development. A condominium building there is under construction by Sobhi Associates, which is also working on a high-rise condo building across from Echelon Place. Among the other hotel projects under way are projects for hotel-casinos; one of those projects will be next to Bally’s Palace.
Gennaro said that Bally’s will continue to function as it does now, with two towers on the site. The project is designed to capitalize on the hotels around it, including the Trump International Hotel in the same Echelon Place development.
The site also includes retail spaces along the Riverwalk, in what is now the vast bulk of the Riverwalk.
The construction includes additions and upgrades to the existing resort and casino; a large, new parking structure and new pedestrian walkways and underground parking; and a new platform that is going to allow greater circulation of the river, as well as an expansion of the free shuttle service.
“We’re continuing on our path of revitalization,” Gennaro said. “We want to keep our property current, and help the surrounding area along with the Linq and the wider Echelon Place development.”
Last month, HVS came out with an initial field study of the project, forecasting about 3,000 new jobs.
The report’s language reflects the use of available capital and a more productive use of resources.
“Envisioning is the first step, but the application of that plan is the true test,” reads the main paragraph. “The future holds the potential for a built environment that features thriving, and diverse retail and services, along with residential, hotel and multi-tenant developments.”
The potential of a casino falls under its headings of “employment and economic impact” and “housing and public space.”
The Bally’s Area on the Riverwalk construction, which was just started, is aiming to include retail, office and food and beverage; and “an updated, multifaceted riverfront shopping and dining area,” according to the report.
Meeting standards of the International Code Council will be an undertaking for the new structure.
“The city is working closely with the casino and hotel partners to build the strongest review, standards and action plan to satisfy the code,” the report said.
Not all of what’s going on is new. In May, Gennaro announced that the hotel would undergo a $100 million makeover by 2021.
The project calls for renovating the casino and other areas.
“There are many renovations that will involve creating new space, while expanding our operations,” Gennaro said.
— By Natalie Sherman, CNN