Posts Tagged ‘casinos’

VEGAS CASINO GOES BUST

May 6, 2008

According to The Wall Street Journal the Tropicana hotel in Las Vegas is filing for bankruptcy.

Casino operator Tropicana Entertainment LLC sought Chapter 11 protection late Monday in the largest corporate filing of the year, a startling reversal of fortune for the new owner of one of the most historic casinos in Las Vegas.

The Tropicana is the last old casino on the south end of the Las Vegas Strip. The casino’s parent company defaulted on the interest payment of a $1.32 billion loan that was due Friday.

Also according to the Journal:

The problems at Tropicana, which has 11,000 employees and about $1 billion in annual sales, come as the casino industry as a whole is struggling.

In its heyday the Tropicana was a major Las Vegas Strip casino. Elvis filmed part of Viva Las Vegas there. James Bond stayed at the Tropicana in the movie Diamonds Are Forever and called the casino “quite comfortable.” In recent years though the Tropicana has been considered somewhat of a dump. It has been far surpassed by other Strip properties-particularly ones in the same area like Mandalay Bay, the Luxor and the MGM.

The Tropicana is also famous for its Les Folies Bergere which features vintage Las Vegas showgirls.

After previously booking some of the biggest acts in Vegas, the biggest attraction at the Trop in recent years was the chicken who played tic-tac-toe.

YOUR TROPICANA JUMP THE SHARK MOMENT

On a more serious note, the Tropicana bankruptcy throws into question a number of Vegas casino projects worth billions of dollars. Banks have reportedly been scared off Las Vegas with the recent downturn in the economy.

MY FAVORITE SLEAZY VEGAS CASINO NARROWLY AVERTS SLEAZY OWNER

April 30, 2008

According to today’s LA Times, Hustler publisher and porn tycoon, Larry Flynt, “was negotiating” to buy off-strip Las Vegas casino, Ellis Island. Thank God the deal didn’t go through!

The Times described Ellis Island as “tiny.” I’d describe it as a dump. However, I mean that with true affection-having spent many a night there. Ellis Island is the last bargain rate casino even near the Vegas strip. It’s off the intersection of Flamingo and Koval near the Strip (right by the intersection where Tupac was shot in 1996.) 

You can still get a $3.99 steak dinner or a 99 cent breakfast at Ellis Island. Drinks and beers are still $1 there. I don’t think Ellis Island has raised their prices in 15 years.

I despise karaoke, but Ellis island is the ALL-TIME hot spot for Las Vegas HOT DRUNK CHICK KARAOKE. The last time I was there I had three drunk strippers with me (a blonde, a Russian, and a biker chick all to myself) to karaoke. Good times! I don’t suggest karaoke as a form of entertainment, but Ellis Island is definitely the place to go if you have to karaoke.

If Larry Flynt would have taken over Ellis Island it would have been a disaster. It would have turned one of the last remaining non-mega casinos in Vegas and turned it into a porn palace. There’s sleaze and then there’s SLEAZE.

When it comes to sleazy, I’ll take Ellis Island the way it is now.