Caesars Palace in Las Vegas, Nevada is turning the big 5-0 and plans on celebrating by spending $75 million in upgrades. The owner of the casino, Caesars Entertainment Corp. is due to announce today that they plan on overhauling the Roman Tower of guest rooms, which was last renovated back in 2001. The tower has 567 guest rooms and has been closed since September due to construction. The tower will be renamed to the Julius Tower and will have 20 more guest rooms added.
It was on August 5th, 1966 that Caesars Palace first opened and became popular due to the game play as well as movies the venue was featured in including Rain Man and The Hangover. The casino has grown considerably since it was first constructed in 1966 and now includes almost 4,000 guest rooms located in six towers.
The renovated guest rooms are expected to be open for reservation by the 1st of January and will have an average nightly rate of $149. This is around $20 to $30 more than the previous pricing. The owner of the property, Caesars Entertainment Corp, is trying to get rid of debt with restructuring. Caesars Palace recently was fined almost $10 million for lapses in money laundering prevention policies and the company faces just over $18 billion in debt.