With the millions of great online casinos out there today, it’s a wonder that brick and mortar casinos grow daily, but in reality, the booming brick and mortar casino industry owes a lot to it’s internet cousin. As more and more customers learn the tricks of the trade at great online casinos, they then turn to the land based casinos for vacations. Brick and mortar casinos are now growing at an ever faster rate to meet the casino craze.
The Flamingo Laughlin and 7.7 acres of property on the Colorado River were recently purchased by the American Casino and Entertainment Properties for $170 million. The Traymore site, which refers to the land and casino, was purchased from Harrah’s Entertainment in Atlantic City, and switched hands last Friday.
The ACEP, which also owns Arizona Charlie’s East and West in Las Vegas and the Stratosphere Casino, will now use the Flamingo Laughlin brand name for the next six months. The Flamingo’s new name, the Aquarius, will come in October according to Richard Brown, the ACEP’s Chief Executive Officer.
The new name, Aquarius, was picked as part of a three part theme for the renovated property.
“First, it’s about the water and being on the river, second, that this place is lucky and somewhere people can win,†said Brown. “I call it having a home-court advantage because of the odds and some of the things we provide here and thirdly, obviously, fun. We want to have a place where people can come in, it’s a resort experience and people felt like they were having a great time while they were here.â€
At a media roundtable which Brown hosted Friday, he announced the taking over of executive management positions and any new plans for the renovation and updates to the Traymore site property. The new General Manager, John Lind, spoke Friday about the importance of the property, and the many new and exciting changes guests should expect at the Flamingo/Aquarius over the next few years.
“We won’t just be putting on lipstick. We’ve looked at our niche in the market. We will market to the masses but will be focused on the high-end players,†said Lind.â€My felling is that this is the most desirable property on the [Colorado] river by far.â€
“I’m familiar with the Laughlin market,†Lind continued. “I certainly have a feeling for what will work and what won’t. I think that because of what ACEP is doing with purchase of the property and with the capital they are willing to invest, we can substantially raise the bar in this market.â€
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