Golden Entertainment recently announced that it plans to make major changes to the Stratosphere hotel-casino in Las Vegas.
Golden Entertainment, which purchased the property in 2017, says that it plans to add "exciting" new food and beverage outlets, create attractive meeting space, upgrade the casino floor and refresh the building's experience.
The purpose is to "further establish the property as a unique destination for visitors to the north end of the Las Vegas Strip."
Golden Entertainment says it plans to being work in the second quarter of 2018 and will finish in 2021.
Highlights of the Stratosphere three year redevelopment plan include:
- A complete renovation of over 1,100 rooms, representing nearly 50% of the existing room base;
- The addition of a unique gastro-brewery, featuring Golden Entertainment’s signature branded craft beer and menu, which will be connected with a remodeled, state-of-the-art sports and race book;
- The addition of new steakhouse, noodle bar and other food outlets;
- A refresh of the iconic Top of the World restaurant and Tower experience;
- The installation of state-of-the-art digital signage and lighting for the property exterior;
- A new players rewards center and a new VIP hotel registration area;
- A complete refresh of the current showroom;
- The creation of a dedicated casino area conveniently located near access to the tower thrill rides to appeal to a younger visitor demographic; and
- The transformation of existing unused space into approximately 50,000 square feet of meeting space targeted at modest-sized groups and conventions.
Golden Entertainment anticipates that the total investment for the Stratosphere redevelopment plan will be approximate $140 million, with approximately $32 million budgeted for 2018.
The group also owns 16 acres of real estate surrounding the property, which could be used for additional expansions in the future.
The construction of Resorts World, expansion of the Las Vegas Convention Center and investment to complete the former Fontainebleu are expected to benefit the Stratosphere, according to Golden Entertainment CEO Blake Sartini.
Sartini also mentioned the arrival of low unemployment in Nevada and the arrival of professional sports as reasons to invest in upgrades for the Stratosphere.
Golden Entertainment also purchased Arizona Charlie's Decatur, Arizona Charlie's Boulder and the Aquarius Casino Resort in Laughlin.