Hooters Casino Hotel
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- This page is about the Hooters Casino and Hotel; for other uses see Hooters (disambiguation).
| Hooters Casino Hotel | |
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| Facts and statistics | |
|---|---|
| Address | 115 East Tropicana Avenue Las Vegas Nevada 89109 |
| Opening date | February 2, 2006 |
| Theme | South Florida |
| No. of rooms | 696 |
| Total gaming space | 35,000 sq ft (3,300 m2) |
| Permanent shows | Bobby Slayton, The Mentalist (Gerry McCambridge) |
| Signature attractions | none |
| Casino type | Land |
| Owner | 155 East Tropicana, LLC |
| Previous names | Howard Johnson Motel (1973) Paradise (1973-1984) Treasury (1984-1989) Pacifica Polyesian (1989) Hôtel San Rémo (1989-2006) |
| Years renovated | 2002 2004 2006 |
| Website | Hooters Casino Hotel |
Hooters Casino Hotel is a hotel casino located off the Las Vegas Strip in Paradise, Nevada, United States. The hotel is owned and operated by 155 East Tropicana, LLC (Florida Hooters, LLC 66.67% & EW Common, LLC 33.33%). It is located off the Strip next to the Tropicana and across the street from the MGM Grand Las Vegas. The hotel has 696 rooms with a 35,000-square-foot (3,300 m2) casino.
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[edit] History
The hotel was built in 1973 opening as a Howard Johnson Motel. After several ownership changes, it became the Hôtel San Rémo in 1989 and featured an Italian Riviera theme. In 2002, the hotel, casino, and restaurants were refurbished. The hotel had 711 rooms while the casino had 30,000 square feet (3,000 m²) of space.
On August 17, 2004 Hooters, Inc. announced that they were purchasing the hotel for approximately $74.6 million from the Eastern and Western Hotel Corporation. EW Common, LLC owned by Sukeaki Izumi and Toyoroku Izumi acquired a 1/3rd interest in the hotel as a part of this process. The new ownership announced plans to develop and operate a Hooters brand casino and hotel on the site of the Hôtel San Rémo. On April 18, 2005 Hooters announced a $190 million upgrade of the property. The upgrade included increasing the casino to 35,000 square feet (3,300 m2) and rebranding the property as a Hooters . All of the hotel rooms would be remodeled, the pool would be tripled in size, and the number of restaurants would be increased from 4 to 8 and include the second largest Hooters restaurant in the world. The renovations would reduce the number of rooms to 696 by converting rooms into larger suites.
On February 2, 2006, the weekend of Super Bowl XL, Hooters Casino Hotel officially opened its doors with a large orange carpet welcoming not only the public but many stars including KISS bass player Gene Simmons.[1] Former Miami Dolphins quarterback Dan Marino opened Dan Marino's Fine Food and Spirits restaurant on the same day the casino/hotel opened.
On January 22, 2007 it was announced that an offer had been made to purchase the Hooters Casino Hotel and its parent company for $95 million[2]. On April 23, 2007, comedian Bobby Slayton began an open ended engagement in the newly created Nite Owl Showroom.
Under the Hooters Hotel brand, cash flow has been falling at the property. On March 4, 2008, Hedwigs Las Vegas Top Tier, an investment group purchasing the Hooters Casino Hotel for $225 million, announced that it would spend an additional $130 million to redevelop the property and remove and replace the Hooters theme with a "lifestyle, entertainment-driven boutique hotel".[3]The deal fell through in June 2008 when Hedwigs failed to make a required payment.[4]
[edit] Revenue of the Hotel
Hooter's has one of the lowest gaming revenue for a strip casino, but has one of the highest ratio of non-gaming/gaming income. The casino has never made money.
| Source | Dollars | |
|---|---|---|
| Casino | $24,950,887 | |
| Food, beverage and entertainment | $22,136,579 | |
| Hotel and other | $20,685,695 | |
| Sum | $67,773,161 | |
| Less promotional allowances | ($7,678,360) | |
| Net operating revenues | $60,094,801 |
Net operating revenues for 2009 is down 23.58% for the first 9 months. The casino had an operating loss of $5.55 million in 2006, $0.96m in 2007, $6.19m in 2008, and $4.26m for the first 9 months of 2009. [5]
[edit] Other use of name
There is another Hooters branded casino, which is unrelated to the Las Vegas property, called Hooters Owl Club Casino, which is located in Spokane, Washington. It is owned and operated by HootWinc, Inc. a Hooters restaurant licensee based in Oceanside, California.
[edit] References
- ^ Richard Abowitz, Hooters Opening, The Movable Buffet, Los Angeles Times, January 31, 2006.
- ^ "Company purchases struggling Vegas Hooters". Accessed May 23, 2007.
- ^ Arnold M. Knightly, Hooters brand will get the boot, Las Vegas Review Journal, March 4, 2008.
- ^ Melinda Peer, [1], Hooters Hotel Deal A Bust, Forbes.com, June 9, 2008.
- ^ "03/31/09 Form 10K Annual report". http://phx.corporate-ir.net/phoenix.zhtml?c=192826&p=irol-sec.
