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That Casino Buffet Is Cheap, But Do They Have Sea Urchin Tempura? - Wall Street Journal (blog)

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Gamblers who prefer black cod with miso to $2.99 steak-and-eggs deals are in luck. Caesars Palace Las Vegas and Nobu Hospitality plan to develop the world’s first Nobu Hotel.

Caesars is part of Caesars Entertainment Corp.,  the company formerly

known as Harrah’s Entertainment Inc. that’s owned by Apollo Management and TPG Capital.

Caesars and Nobu have signed a non-binding letter of intent to develop the hotel at the site of the Centurion Tower, which will get a multi-million dollar renovation. The 180-room Nobu Hotel will include 16 suites and a penthouse. Nobu already has a restaurant at the Hard Rock Hotel and Casino in Las Vegas, but the 9,500 square-foot Nobu Restaurant and Lounge will be its first property on the Las Vegas Strip.

Moody’s Investors Service said in a recent report that the Strip is showing signs of a recovery, but has “a high mountain to climb to grow earnings to anywhere near their previous peaks, as citywide hotel room rates remain below 2005 levels.” But even as the gaming industry suffered during the recession, part of the strategy has been to promote luxurious and uniquely Vegas experiences, to differentiate from cheaper, closer and less glamorous offerings like, say, The Route 207 Slot Emporium.

“With a renowned location in Caesars Palace, the luxury Nobu Hotel Las Vegas will be a destination for style-makers and trendsetters, offering an immersive, fun and social experience,” and guests will “enjoy private check-in and the unique benefit of room service from Nobu’s acclaimed culinary team,” according to a press release Monday.

Just a few days ago, Caesars Palace had another big culinary announcement, with the news that Chef Michel Richard will bring Central 24/7 to the property in late summer, providing a chance to snack on short ribs and razor clam chowder before that 2am blackjack game.

We’re happy to see any kind of Vegas expansion, especially involving food, but as patrons of the $2 tables, we hope the upscale cuisine will be augmented with a few downmarket offerings. Waffle House Casino Resort, anyone?



Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEVGnGWoqdIMs5jN2aMeL6oskYCKw&url=http://blogs.wsj.com/privateequity/2011/03/07/that-casino-buffet-is-cheap-but-do-they-have-sea-urchin-tempura/?mod=google_news_blog

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