Looking to the future, Caesars Entertainment will complete their Nobu-branded Centurion luxury tower in 2012, and recently announced a $550 million entertainment project with the goal of creating a world-class spectacle for the 21st century. Dubbed “Project Linq,” the complex will feature a 550-foot Ferris wheel and a dining and entertainment district in a corridor between the Flamingo and Imperial Palace casinos.
“We’ve really been looking at this project since 2007, when it was put on hold while the economy melted down,” said Jan Jones, senior vice president of communications and government affairs for Caesars Entertainment. “When we began talking to customers about what they wanted that wasn’t here, what really came out was that Las Vegas has a lot of beautiful properties and entertainment, but doesn’t have a district where people and meet and congregate in a more condensed setting.”
This may be part of a generational shift already underway in Las Vegas visitors, which Caesars hopes to capitalize upon with its new project.
“Las Vegas needs diverse entertainment offerings that focus on the fact non-gaming spend has been exceeding gaming spend,” said Jones. “We project by 2015 that 52 percent of revenue will come from the generation X and Y customer. This project shows the market will evolve as it always has.”