Casino Cleavage Continues
Posted on November 23, 2008
Filed Under General
It seems that Penthouse Inc. is seeking a presence on the Las Vegas Strip.
For several years the Playboy brand has been on the Palms Hotel & Casino in Las Vegas. There is the Hugh Hefner suite, the Big Bunny logo on the side of the 1st Palms Tower and several other Hefner/Bunny/Playboy promotions and tie-ins. Now the "other men's magazine" Penthouse is looking to buy a casino/hotel in Vegas.
Penthouse Inc. is seeking an already operating casino on the famed Las Vegas Strip. The Palms is not actually on the Strip but about a mile west of the strip in a group of hotel-casinos with the Rio and the Gold Coast.
"We have no intention to rebrand the name of the hotel. We would like to see a Penthouse casino presence and a Penthouse pool presence."
There clearly is the intention to buy while the market is weak, the real question is what property or properties might be on the block. Statements would suggest that a major remodel of the casino and pool area to bring those pieces of the property into line with a Penthouse theme are part of the package.
One has to wonder if the properties known to be available (Riviera or Tropicana) are simply too old to be the type of situation that would interest Penthouse. In any case, it does appear that the move of Las Vegas back to a more adult theme and away from the "family orientation" of the 90's will continue. Imagine bringing your focused "A" game to the Penthouse Pet Poker Room. Can you hear the pocket rocket jokes already?
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