LAS VEGAS Coast Resorts announced a $100 million expansion of its largest hotel-casino, The Orleans. The project is expected to be paid for primarily out of cash flow, and will be completed in phases through the end of 2002. Featured in the expansion will be a special-events arena, a 620-room hotel tower, a 2,600-car parking garage, six additional movie theaters, two restaurants and an Irish pub. Approximately 40,000 square feet of gaming area and public space will also be created for future use.
The additional hotel rooms will bring the total of rooms and suites to 1,460 at The Orleans, which has maintained an occupancy rate of 95% over the past two years. Tower construction is expected to begin in the second quarter of 2001 and be completed in the second quarter of 2002. (1/16/01)