The South of the Las Vegas Strip is slated for some serious changes in the near future. One of the biggest names among the new retailers making a splash in the area is Tropicana Las Vegas. They are moving forward on plans for a retail project whose price tag will reach multi-million dollar figures. Although the project will not be breaking ground until nearly a year from now, Tropicana’s CEO is extremely confident and excited about the project’s prospects.
Time Moves Forward
The property on which the changes are to take place is historic in the area. It has undergone regular transformations, and the new business coming to the location plans to build on this heritage. Prior to the release of these plans, the company had already invested a substantial amount of money on interior renovations. After four years of making improvements in this capacity, Tropicana is turning their sights to the property’s exterior. The hotel and casino has 1,467 rooms to accommodate the new patrons to be intrigued by the complete, exterior makeover.
A Whole New Face
The frontage of the building will be completely transformed to include two levels that will encompass a complete shopping center. Within this complex will be a food court, individual restaurants, and 165,000 square feet of retail space. The only real reservations that the company faces with the renovation of the two-story building is the fact that it entails removing the Tiffany glass installments that have been in place over the game pits for decades.
Looking Forward with Confidence
Although Tropicana has faced difficulties with turning profits during the past periods of recession, this investment is being characterized as a valuable tool for helping them get back into the black in the very near future. The profits have been raising steadily, moving from losses of $9.7 million to $5.9 in just one year. The actual property is a developer’s dream, according to Tropicana’s CEO, citing the ideal location. Tropicana has also alluded to future plans for a Hooters Hotel and adjacent parking garages. The property has been in place since 1957, and the new renovations promise that it will continue to thrive well into the future.