It's an epic saga, but the transition from the Aladdin to Planet Hollywood is proceeding.
It all started in June 2003, when the judge presiding over the Aladdin bankruptcy accepted Planet Hollywood's $635 million bid for the property. The details of the sale took a few months to iron out, so it wasn't until October 2003 when the judge gave final approval for the takeover of the hotel-casino by Planet Hollywood's team.
At that time, PH unveiled preliminary plans for the conversion of the Aladdin. It was supposed to take about a year and cost $90 million. Plans included reconfiguring the resort's Strip entrance to accommodate Planet Hollywood's trademark globe and expand the 114,000-square-foot casino. Meanwhile, the new principals had to undergo the investigation required for the issuance of state gaming licenses.
The licensing process alone took nearly a year; the Aladdin didn't officially become Planet Hollywood till Sept. 1, 2004. No work had been done up to that point, when PH announced that its plans now included remodeling the casino and adding restaurants, a 1,300-seat showroom, and a 500-seat TV studio. The new schedule was stretched out till mid-2006.
Then, in October 2005, PH released new details of the makeover, the price of which had risen to $140 million. PH planned to replace all the Middle Eastern elements with Hollywood-inspired themes. Access from the Strip and the Desert Passage mall to the casino would be redesigned, while the casino, registration area, shops, and race and sports book would be remodeled. The Aladdin Theatre would get a face lift and a 1,500-seat theater was being built. The new schedule was to be completed by the end of 2006, when the name would change.
That's pretty much where it now stands, except that the cost keeps rising; it's now more than $200 million. The remodeling work proceeds behind temporary walls, which provide large surfaces for advertising current deals and the upcoming amenities and attractions. Reconfiguring work is visible on the Strip entrance. Other current construction is on a $750 million timeshare and hotel-condo project around the corner on Harmon Avenue. When completed in late 2007, two 50-story towers will add 2,500 units to Planet Hollywood's room count, giving it more than 5,000 rooms.
In addition, the nearly 500,000-square-foot Desert Passage Mall is undergoing a $50 million makeover that will replace the North African theming with a more subtle and sophisticated look. The construction work on the mall will happen in phases through mid-2007.
