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When will they close/replace the IP

Minneapolis...
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433 posts
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When will they close/replace the IP

I have stayed at many hotels in LV including the IP. It's in really rough shape these days. Is there a chance they would be replacing it soon? Or maybe shutting down like the plaza and remodeling?

Irvine, California
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33,862 posts
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1. Re: When will they close/replace the IP

I doubt there's any plans right now to do much with IP or the cash available for CET to do so even if there were. For all its critics, IP is a popular budget choice for many visitors who are more than happy with the shape it's in.

Springfield...
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2. Re: When will they close/replace the IP

whats likely to happen is the property will be sold, much like MGM sold treasure island. Caesars is in deep deep trouble due to the interest payments alone on their debt. Id image whoever buys it will tear it down and rebuild.......but with the other stalled projects, that may be several years before it happens.

Hotlando, Fl
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9,198 posts
28 reviews
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3. Re: When will they close/replace the IP

Not everyone can or willing to pay for the newer mega resorts when there are available budget hotels in great locations without resort fees. Rebuilding higher end hotels will drive low budget travelers to stay off strip and downtown.

Park Forest...
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11,485 posts
88 reviews
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4. Re: When will they close/replace the IP

No one is going to finance a new strip casino and there's no indication that they aren't making money there.CET is up for selling casinos but it's Rio that's on the block, not IP.

Springfield...
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5. Re: When will they close/replace the IP

ya but they also arent reinvesting in IP (nor any of their other properties {as much})

its much easier to sell the property rather than invest millions to update, even if its just a modest upgrade.

If i were CET, i would keep only(in vegas); caesars + project linq. Since they are still a private company, sell the other assets so they can free them selfs from the 18+ billion in debt

ohio
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2,525 posts
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6. Re: When will they close/replace the IP

The IP is a gold mine. Center strip...low prices.

Edited: 08 July 2011, 12:02
Jersey
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31,600 posts
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7. Re: When will they close/replace the IP

I like the idea that there are hotels available on the strip for all budgets- very inexpensive to super-expensive. Just because a certain hotel isn't one I would choose to stay in , it doesn't mean there aren't a whole lot of people who love it just the way it is nowadays.

London, United...
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576 posts
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8. Re: When will they close/replace the IP

I cant stand the place but it has its place as the fleapit of the strip.

Ballyclare, United...
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1,908 posts
160 reviews
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9. Re: When will they close/replace the IP

Its a bit like Circus Circus in that the UK tour operators use it to send brits on cheap package tours.

Personaly I don't mind the casino, but have never stayed there and not likely to.

My son and his GF are staying later this month and they paid $24 per night booking direct. Where else would you get it?

mpo

Michigan
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7,077 posts
8 reviews
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10. Re: When will they close/replace the IP

Never, Circus Circus and IP will be there forever. No sense in demoing those properties and building something that most likley won't generate anymore busniess than that already have and with no extra debt load.