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Planet Hollywood Details Its New Casino Resort

LAS VEGAS-As part of the $1-billion renovation and re-branding the 2,567-room former Aladdin property, construction is under way for the first of two 50-story timeshare towers.

By Brian K. Miller | Updated on April 19, 2007

LAS VEGAS-With Bruce Willis in tow, the group transforming the former Aladdin property here into the Planet Hollywood Resort & Casino revealed additional detail about the project this week. In addition to the resorts renovation and re-branding, which is well under way, construction has started for twin 50-story, 1,200-unit timeshare condo-hotel towers that will complement the existing 2,600-room resort come 2009. As well, another group is in the midst of a makeover of the adjoining 475,000-sf Desert Passage Shops into the Miracle Mile Shops.

The development group behind the $1-billion Planet Hollywood endeavor includes Douglas P. Teitelbaum, Robert I. Earl and Theodore W. Darnall. Earl is one of the founders of Planet Hollywood. Teitelbaum is managing principal of Bay Harbour Management LLC of New York, a company that is in the business of turning around distressed operations. Darnell is an officer with Starwood Hotels & Resorts, which will run the hotel under the Sheraton flag. The group announced in September 2004 that it was acquiring the Aladdin property out of bankruptcy for $635 million with plans to transform it into Planet Hollywood Resort & Casino.

As part of the renovation and re-branding of the Aladdin, the old resort is getting a new facade, new slot machines, renovated hotel rooms and a new layout for the casino floor that will include more restaurants. In addition, the casino’s 7,000-seat showroom has been reconfigured as two spaces, one with seating for 3,200 and another with seating for 1,300.

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