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Circus Circus Enterprises Unveils Project Paradise: A 4,000-Room Resort and Casino on the Las Vegas Strip

Strategic Insights

— 1 min read

Circus Circus Enterprises, Inc. gave the Hacienda Hotel & Casino a spectacular farewell on New Year's Eve, clearing the site for the construction of the company's latest project, Project Paradise. This 4,000-room resort and casino, slated to open in the fall of 1998, will feature a 10-acre tropical environment, a surfing beach, and a swim-up shark exhibit. As part of the Masterplan Mile, Project Paradise will serve an upscale portion of the Las Vegas market and eventually become the most prominent entertainment space in the city.

Key Takeaways:

  • Project Paradise will be a 4,000-room resort and casino situated on a 47-acre site, featuring a 10-acre tropical environment with a surfing beach and swim-up shark exhibit.
  • The resort will include a separate 400-room Four Seasons Hotel, which will front the tropical environment and have its own entrance to the Las Vegas Strip.
  • Project Paradise is expected to serve an upscale portion of the Las Vegas market and become the pivot of the company's Masterplan Mile.
  • The Masterplan Mile will encompass the first two freeway exits to Las Vegas from Southern California, an internal road to alleviate traffic on Las Vegas Boulevard, an interconnection among Circus' resorts by transit system, and proximity to McCarran International Airport.
  • Circus Circus Enterprises will finance Project Paradise from a combination of its free cash flow corporate bank lines of credit, with a final budget to be announced in the next few months.
  • The company owns and operates 10 properties in Nevada, including Circus Circus, Luxor, Excalibur, and Slots-A-Fun in Las Vegas, and has interests in several other casinos in Mississippi, Illinois, and Canada.

Statistics:

  • 4,000 rooms in Project Paradise resort and casino
  • 10 acres of tropical environment
  • 600-foot high pyrotechnic display for the implosion of the Hacienda Hotel & Casino
  • 2 miles of circuitry used for the implosion
  • 1,000 pyrotechnic devices used for the implosion
  • 2 freeway exits to Las Vegas from Southern California
  • 1 internal road to alleviate traffic on Las Vegas Boulevard
  • 1 interconnection among Circus' resorts by transit system
  • 1 major asset and growth vehicle in the entertainment industry according to Clyde Turner, Chairman and CEO
  • 20,000 rooms planned to be owned or controlled by Circus Circus in the coming years

Sources:

  • Source: PRNewswire, January 1, 1997
  • Source: Circus Circus Enterprises, Inc. press release, January 1, 1997

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