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Harrah's Upgrade Roundup

By Chuckmonster on Friday, 18th November 2005 8:46am
  » filed under Las Vegas  comments: 0

   

This is the 2nd story announced in recent weeks of Harrah's pending expansion of its cadre of casinos in Atlantic City. Previously Harrah's announced upgrades to its Boardwalk properties Ballys, Caesars and Showboat - now, its namesake joint in the Marina is going to get an upgrade - a new 1000 room tower, expanded shopping and casino, the works. It looks like Harrahs is will be spending a majority of the next 5 years doing upgrades to properties aquired in the Caesars aquisition... here's the list of properties they've announced development for:

Turning Caesars Indiana into a Horseshoe
Ballys AC
Showboat AC
Harrah's AC
Ballys LV

Rumors:
Caesars LV (porting Augustus tower upgrades to older towers)

Near future announcements:
Bourbon Street
Flamingo
Imperial Palace
Harrah's LV

Add onto this the repair of Hurricane Katrina damaged casinos.

These expenditures will surely affect their balance sheet and stock price... if gaming revenue levels off or ceases to rise you might start seeing Harrah's selling off some other properties in the future.



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