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JW Marriott Las Vegas – Wikipedia

JW Marriott Las Vegas - Wikipedia

Resort on line casino in Summerlin, Nevada

JW Marriott Las Vegas Resort and Spa is a luxurious resort in Summerlin, Nevada, close to Las Vegas. The Rampart On line casino is positioned throughout the resort. The property is owned and operated by Hotspur Resorts, which franchises the JW Marriott title from Marriott Worldwide.

Historical past[edit]

Growth and opening (1996-2000)[edit]

The Resort at Summerlin Pool (aerial)

In Could 1996, the Howard Hughes Company, developer of the Summerlin deliberate neighborhood, introduced an settlement for a on line casino resort to be developed by Seven Circle Resorts, an American affiliate of Swiss gaming agency Swiss Casinos.[2][3]Paul Steelman was the architect.[2] The resort’s opening was initially deliberate for 1998.[2] Builders envisioned it as a luxurious golf and spa resort, much like these present in locations like Scottsdale, Arizona and Palm Springs, California.[4][5] The property would have relationships with a number of close by golf programs, together with unique management of half of the tee instances on the neighboring Event Gamers Membership on the Canyons.[4]

Seven Circle bought the 54-acre (22 ha) website from Howard Hughes Corp. in August 1996 for $16.6 million.[6] By February 1998, development was underway.[7] Managed by J.A. Jones Development, the undertaking was marked by delays and price overruns.[8] The ultimate value of growth was $276 million, together with $76 million contributed by Swiss Casinos and $200 million borrowed from lenders.[9][10]

The Resort at Summerlin quietly opened its doorways on July 15, 1999.[9] Its builders described it as Las Vegas’ first off-Strip luxurious resort. At opening, the property included a 286-room resort, two eating places, and a on line casino.[11][12] The resort was named the Regent Grand Spa, beneath a franchise from Regent Worldwide Motels.[13] Due to development delays, different facilities, together with the spa, pool, retail retailers, and extra eating places, opened over the next months.[14]

A second resort, the 255-room Regent Grand Palm, opened in January 2000.[15][16] By the subsequent month, the whole property had been renamed as The Regent Las Vegas, to capitalize on its affiliation with the upscale Regent model, and the 2 motels have been identified merely because the Spa tower and the Palms tower.[16][17]

In June 2000, Swiss Casinos introduced plans to buy a 22-acre (8.9 ha) parcel subsequent to the Regent and to develop it with timeshare items and tennis courts,[18] however this undertaking by no means got here to fruition.

After completion (2000-present)[edit]

Indicators of monetary bother appeared as early as November 1999, when the resort’s working firm revealed that it was in search of new financing and its credit standing was downgraded.[19][20] By March 2000, the resort was in technical default on its mortgage debt, on account of having borrowed further cash from Swiss Casinos.[21] Executives started to shift the on line casino’s focus to draw extra locals, reminiscent of by changing slot machines with video poker machines.[22]

In September 2000, the Regent defaulted on varied funds to collectors.[23][24] By November, executives have been trying to renegotiate the property’s debt, and 239 of the resort’s 1,700 staff had been laid off.[25] The Regent filed for Chapter 11 chapter safety later that month,[14] and shortly started in search of a purchaser for the property.[26] Actual property developer Peccole Nevada was chosen because the stalking horse bidder, with a proposal of $150 million, however then withdrew its bid after a disagreement with its financing accomplice.[27][28] A brand new bid of $80 million by Los Angeles-based resort firm Maritz, Wolff was then chosen, however was additionally withdrawn after negotiations with the Regent’s collectors broke down.[29][30] Lastly, the resort was bought to Hotspur Resorts, the resort affiliate of Canadian actual property agency Larco Investments, for $80 million.[31] Observers had anticipated a aggressive public sale with bids from main on line casino operators, however most potential consumers misplaced curiosity after the September 11 assaults, which occurred two weeks earlier than the public sale.[31] Hotspur accomplished its buy in November 2001.[32]

Hotspur rebranded the resort beneath the JW Marriott title, hoping that it might be a greater draw than the Regent title, which was discovered to have good title recognition in Asia however not in America.[33] The on line casino was leased in 2002 to Nevada-based Millennium Administration Group on a 10-year lease.[34][35] Millennium renamed the on line casino because the Rampart On line casino on the Resort at Summerlin, and continued the trouble to shift the on line casino’s advertising and marketing emphasis away from excessive rollers in direction of locals,[35] and carried out main renovations, together with redesigning the gaming ground, buying new slot tools, and developing three new eating places.

When the on line casino lease expired in 2012, Hotspur opted to not renew the settlement, assuming direct administration of the on line casino, with the assistance of consulting providers from Affinity Gaming.[36] Michael Gaughan, Jr., the son of on line casino magnate Michael Gaughan, was employed because the property’s basic supervisor.[37] In the meantime, revenues declined due to a gradual economic system and elevated competitors from newly opened Strip resorts, main the property to once more default on its mortgage funds.[38] The homeowners have been in a position to keep away from foreclosures, in the end negotiating a mortgage modification in December 2013.[39]

Services[edit]

The resort has 469 rooms and 79 suites,[1] with rooms beginning at 560 sq. ft (52 m2). There’s a 40,000-square-foot (3,700 m2) spa and 115,900 sq. ft (10,770 m2) of assembly and occasion areas.[1][40]

The on line casino has 57,610 sq. ft (5,352 m2) of gaming house with 1,560 slot machines, 28 desk video games, and a race and sports activities guide.[41][42]

Movie historical past[edit]

In April 2004, scenes have been shot on the on line casino for the fourth season of CSI: Crime Scene Investigation.[43]

References[edit]

  1. ^ a b c “JW Marriott Las Vegas Resort & Spa – Lodge Particulars”. Marriott Worldwide. Retrieved April 22, 2018.
  2. ^ a b c “Summerlin unveils plan for 300-room resort-casino”. Las Vegas Solar. Could 24, 1996. Retrieved April 21, 2018.
  3. ^ Thompson, Gary (December 2, 1998). “Regent resorts topped off in Summerlin”. Las Vegas Solar. Retrieved April 21, 2018.
  4. ^ a b Kern, Kirk (March 24, 1999). “Resort at Summerlin a mini mega-resort”. Las Vegas Overview-Journal – by way of NewsBank.
  5. ^ “Resort at Summerlin likened to Scottsdale, Palm Springs”. Las Vegas Solar. April 30, 1999. Retrieved April 22, 2018.
  6. ^ “Seven Circle buys Summerlin land”. Las Vegas Solar. August 27, 1996. Retrieved April 21, 2018.
  7. ^ Berns, Dave (February 23, 1998). “Resort on its manner in Summerlin”. Las Vegas Overview-Journal – by way of NewsBank.
  8. ^ Berns, Dave (Could 24, 1999). “Resort at Summerlin blames overruns on contractor”. Las Vegas Overview-Journal – by way of NewsBank.
  9. ^ a b Strow, David (July 16, 1999). “Resort at Summerlin quietly opens doorways”. Las Vegas Solar. Retrieved April 22, 2018.
  10. ^ “Fairness funding elevated on the Resort at Summerlin”. Las Vegas Solar. Could 25, 1999. Retrieved April 22, 2018.
  11. ^ Thompson, Gary (November 2, 1999). “After gradual summer season begin, Summerlin resort says momentum is constructing”. Las Vegas Solar – by way of NewsBank.
  12. ^ Smith, Hubble (July 13, 1999). “Resort opening delayed”. Las Vegas Solar – by way of NewsBank.
  13. ^ Thompson, Gary (July 12, 1999). “Flooding delays the opening of the Resort at Summerlin”. Las Vegas Solar. Retrieved April 22, 2018.
  14. ^ a b Berns, Dave (November 22, 2000). “Regent recordsdata for chapter”. Las Vegas Overview-Journal – by way of NewsBank.
  15. ^ “Las Vegas’ Resort at Summerlin opens its second resort tower”. San Jose Mercury Information. January 2, 2000 – by way of NewsBank.
  16. ^ a b “Resort could change title so as to add affiliate”. Las Vegas Solar. January 10, 2000 – by way of NewsBank.
  17. ^ “Regent Las Vegas takes over in Summerlin”. Summerlin View. February 12, 2000 – by way of NewsBank.
  18. ^ Simpson, Jeff (June 15, 2000). “Summerlin initiatives deliberate”. Las Vegas Overview-Journal – by way of NewsBank.
  19. ^ Berns, Dave (November 16, 1999). “Resort homeowners search loans”. Las Vegas Overview-Journal – by way of NewsBank.
  20. ^ Thompson, Gary (November 15, 1999). “Resort at Summerlin monetary challenges outlined”. Las Vegas Solar. Retrieved April 22, 2018.
  21. ^ “Resort operator in default on debt”. Las Vegas Solar. March 3, 2000. Retrieved April 22, 2018.
  22. ^ Hogan, Jan (March 13, 2000). “Regent president tackles challenges”. Las Vegas Overview-Journal – by way of NewsBank.
  23. ^ Berns, Dave (September 28, 2000). “Regent defaults on cost”. Las Vegas Overview-Journal. Archived from the unique on April 28, 2003.
  24. ^ Berns, Dave (September 29, 2000). “Regent executives meet collectors to type out debt troubles”. Las Vegas Overview-Journal. Archived from the unique on November 4, 2002.
  25. ^ Berns, Dave (November 18, 2000). “Executives for Regent pursue creditor talks”. Las Vegas Overview-Journal. Archived from the unique on November 15, 2002.
  26. ^ Berns, Dave (December 31, 2000). “Regent’s chief goals to market property”. Las Vegas Overview-Journal – by way of NewsBank.
  27. ^ “Regent picks Peccole as most popular purchaser”. Las Vegas Solar. Could 23, 2001 – by way of NewsBank.
  28. ^ Simpson, Jeff (July 4, 2001). “Firm withdraws bid for Regent”. Las Vegas Overview-Journal – by way of NewsBank.
  29. ^ Berns, Dave (August 10, 2001). “Most popular bidder for Regent tapped”. Las Vegas Overview-Journal – by way of NewsBank.
  30. ^ Simpson, Jeff (September 11, 2001). “Most popular bidder pulls Regent Las Vegas bid”. Las Vegas Overview-Journal – by way of NewsBank.
  31. ^ a b Strow, David (September 26, 2001). “Canadian agency to purchase Regent”. Las Vegas Solar. Retrieved April 23, 2018.
  32. ^ “Hotspur takes over Summerlin resort”. Las Vegas Solar. November 23, 2001. Retrieved April 21, 2018.
  33. ^ Simpson, Jeff (November 20, 2001). “Regent Las Vegas altering arms”. Las Vegas Overview-Journal – by way of NewsBank.
  34. ^ Strow, David (March 7, 2002). “On line casino to get its fourth title in three years”. Las Vegas Solar. Retrieved April 21, 2018.
  35. ^ a b Simpson, Jeff (November 30, 2002). “Completely different title, completely different recreation”. Las Vegas Overview-Journal – by way of NewsBank.
  36. ^ Inexperienced, Steve (9 Could 2011). “Herbst Gaming in noncompete, consulting cope with Rampart On line casino”. Vegas Inc. Retrieved 11 March 2012.
  37. ^ O’Reiley, Tim (6 March 2012). “Michael Gaughan Jr. to take over Rampart On line casino administration”. Las Vegas Overview-Journal. Retrieved 11 March 2012.
  38. ^ O’Reiley, Tim (January 6, 2012). “Court docket battle over mortgage on JW Marriott delayed a month”. Las Vegas Overview-Journal. Retrieved April 22, 2018.
  39. ^ “Talmage, LLC efficiently modifies $160 million JW Marriott – Las Vegas Resort and Spa mortgage” (Press launch). Talmage, LLC. December 20, 2013. Retrieved April 22, 2018 – by way of BusinessWire.
  40. ^ “Occasions and Promotions at Spa Aquae”. Rampart On line casino on the Resort at Summerlin. November 2016. Retrieved April 22, 2018.
  41. ^ Nonrestricted Sq. Footage Report (Report). Nevada Gaming Management Board. Retrieved April 22, 2018.
  42. ^ Nonrestricted Depend Report (Report). Nevada Gaming Management Board. Retrieved April 22, 2018.
  43. ^ Cling, Carol (5 April 2004). “Capturing Stars: ‘CSI,’ ‘Will & Grace,’ ‘Dr. Vegas’ headline busy week”. Las Vegas Overview-Journal. Archived from the unique on 5 January 2006.

Exterior hyperlinks[edit]

Coordinates: 36°10′33″N 115°17′27″W / 36.1758°N 115.2908°W / 36.1758; -115.2908


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