Former WSOP Home Binions to Close Hotel
On Monday, TLC Casino Enterprises Inc, owner of Binions Gambing Hall and Casino, announced that Binions will be closing the hotel portion of their property. In addition the casino will be shutting down Keno operations and shutting down their Coffee Shop restaurant.
According to Lisa Robinson, TLC Casino Enterprises Inc. spokeswoman, “It’s the downturn. We had to make some difficult decisions in order to keep the rest of the property operational.”
Binions, when operating as Binion’s Horseshoe, was the home of the WSOP from 1970 to 2005. Afterward, the WSOP moved to the Rio All Suites Hotel and Casino. Binions has 266 rooms but little appeared to have been invested in keeping the hotel modernized. Most of the rooms still looked as if they belonged in the 70′s and the hotel was not even wired for internet access.
According to Robinson, “We plan to reopen it, but we can’t speculate when that will happen. Las Vegas has been hit so hard with the dramatic drop in visitor spending and the average daily room rate has plummeted. Our hotel rooms were no longer competitive in the market. We had to make cuts where our biggest drains were, the hotel and coffee shop.”
The closing of the property comes during a time where other properties are struggling to get tourist to spend money at their properties. For many months, Binions had average rates of $21 during the week and around $40 on the weekend. TLC Casino Enterprises Inc. also owns the neighboring Four Queens Hotel and Casino which has rooms that were renovated in recent years.
All other casino operations will remain intact but Binions will lose 100 jobs due to the hotel closure.
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