LAS VEGAS Park Place Entertainment Corp. plans to build a 29-story hotel tower at Caesars Palace here. The project, estimated to cost between $450 million and $475 million, was announced at the company s annual stockholder s meeting.
The new tower will feature approximately 900 suites and mini-suites, increasing Caesars Palace s total number of room accommodations to approximately 3,350. The tower complex will include approximately 50,000 square feet of retail space and 70,000 square feet of meeting areas, as well as new restaurants and a spa. Construction will begin immediately and is scheduled for completion in 2004.
Additionally, Park Place also recently announced plans to erect a new entertainment venue at Caesars Palace. The Coliseum, a 4,000-seat facility designed to resemble the Coliseum in Rome, is set to open in early 2003 at an estimated cost of between $65 million and $75 million. (5/14/01)