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Posted At : November 14, 2008 11:55 AM | Posted By : D McKee
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Harrah's,The Strip
Harrah's Entertainment is yanking Legends in Concert out of the Imperial Palace after a quarter of a century and installing it next door at Harrah's Las Vegas, starting Dec. 15. Not only is this one more reason to call the Japanese-themed casino "Impotent Palace," it raises the question of how soon the old Ralph Engelstad joint will meet its demise. Most of the property isn't visible from the Strip, masked by Harrah's LV and the Flamingo. So Gary Loveman could quietly start demolishing the old whitewashed-cinderblock pile and few would notice until the job was nearly done.
While I don't doubt the IP isn't long for a tear down, I don't see it happening for at least 2-3 years still. Yes the moving of Legaends is a first step, but based on HET's previous comments on the revenue they produce at the property, and the financial trouble they are having, tearing it down makes absolutely no sense. However the whole redesign of the IP Flamingo area maybe out the door too, and selling the IP after stripping it of what it wants (ala Horseshoe), could be just as likely.
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