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November 24, 2009

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Planet Hollywood narrows 2Q losses

By Liz Benston (contact)

Friday, Aug. 15, 2008 | 12:34 p.m.

Sun archives

Beyond the Sun

The $200 million-plus makeover of the Planet Hollywood Resort & Casino last year helped the property narrow its losses in the second quarter.

BH RE LLC today reported a loss of $12.2 million compared with a loss of $15.2 million a year ago. Revenue and profit margins rose in every department. BH RE owns 85 percent of the equity in the resort.

The owners bought the former Aladdin out of bankruptcy in 2004 and rebranded the property as Planet Hollywood in April 2007. Renovations and the addition of new attractions continued into late 2007.

The company is carrying more than $886 million in debt. An $860 million loan is expected to mature in November, with three one-year extension options.

Discussion: 2 comments so far…

  1. By neiman1
    8/15/08 at 12:49 p.m.
    Suggest removal

    This will be the next one closed if we cannot figure out how to attract customers. Maybe some more energy? Hey Harry, have any ideas or does Nancy Pelosi control your tongue.

    call harry

    email link
    http://reid.senate.gov/contact/index.cfm...

    Las Vegas
    Lloyd D. George Building
    333 Las Vegas Boulevard South, Suite 8016
    Las Vegas, NV 89101
    Phone: 702-388-5020 / Fax: 702-388-5030

  2. By BorisR
    8/18/08 at 3:29 a.m.
    Suggest removal

    Too big, too noisy, too many slots. A supermarket-style casino, once used to be a nice little Aladdin, and now a building with no concept but gaming mostly everywhere and hundreds of shops in the rear.
    The main problem couldn't be solved: Parking!!!! With so many shops in between the parking garage and the casino, my money says: Gamblers prefer Bellagio/T.I./Mirage/Wynn, etc. Who wants to walk 25 minutes before getting to his favorite machine, my friends????

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