CityCenter's opening and expansion by Planet Hollywood and the Hard Rock bring more rooms to fill and gambling space to run to a Las Vegas already saturated with casino and resort space.

The opening by stages of the vast CityCenter complex has many Las Vegas residents happy at the prospect of 10,000 new jobs, but gambling analysts are watching closely to see if the thousands of rooms and square feet of gambling space can be filled by a market already soft on demand. Preparation for Monday's openings of new wings of Planet Hollywood and the Hard Rock Hotel brings trepidation to gaming observers, who worry that another 1600 rooms may be the last thing the casino business needs.

Both casinos say they are investing in the future of Las Vegas, and plan the new towers to attract high-rolling guests whose tastes and travelling are unaffected by the recession. But 500 rooms at Planet Hollywood, starting at $350 a night on weekends, may be hard to fill in a town that has seen even the ritziest casinos and resorts drop rates to keep occupancy high.

"The tower is for the upscale customer who wants to enjoy an all-suite product," Planet Hollywood Resort President Bill Feather told the Las Vegas Review-Journal.

Meanwhile, the Hard Rock additions are to bring the level of amenities at the casino in line with Strip hotels, according to COO Randy Kwasniewski. Penthouse suites and villas top the hundreds of rooms added to a hotel that just expanded in July.

Each Vegas gambling operator is struggling to be ready to get a head start on the industry when prosperity returns to the giant casino resorts. But, with the rising popularity of regional casinos ands Internet gambling, Las Vegas operators may find market tastes have changed leaving the demand for new Vegas rooms permanently soft.

Published on December 25, 2009 by EdBradley

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