Vegas’ top two casinos have spent more than $1.5 billion buying up and renovating their properties in the wake of a major fire that burned through the city’s main strip.
Caesars Entertainment and Wynn Resorts Corp. each spent $1 million in the first two days of the fire, and the casinos are in the process of buying and renovate at least 15 other properties in Las Vegas.
The company has leased the former Wynn Hotel and Casino in Wynn Las Vegas, which was the site of the 2013 deadly Mandalay Bay attack, and is now constructing a new casino there, according to people familiar with the matter.
Causars Entertainment also has plans to build a new luxury hotel in Las Verrit, about 30 miles northwest of downtown Las Vegas on a peninsula near the coast, a person familiar with those plans said.
Wynn and Caesar did not respond to requests for comment.
The fires destroyed at least 40 homes and forced tens of thousands of people from their homes, as well as more than 1,000 businesses.
Caessars said it expects to reopen in some capacity, and WynN said it is not yet sure whether it will reopen or if it will close altogether.
WynN and Caessar declined to provide more details about the properties, citing a need to protect people.
Caressar has had trouble getting financing for its hotels in the past, and had been struggling to recoup some of the money it spent to rebuild.
Wynns has been buying up vacant properties and rehabilitating them, and it has also invested heavily in other areas of its operations, including expanding its casino and resort.
Caisse said the casinos have made “significant progress” in their rebuilding efforts.
The casinos have been hit hard by the fire.
About a quarter of the 1,200 Caesartes employees who are on the payroll are expected to be laid off, according the company.
The Las Vegas Sun reported earlier this month that Caesarts is looking to cut at least 20% of its workforce by 2020.
Caessear, Causar, Wynn, Caesarks and Caressars are in talks to sell their properties.
Caesar, Caessartes, Wynns and Causarts all have been operating casinos in Las Palmas, Mexico.
Caesa Las Vegas Las Vegas has been struggling financially for months as the casino industry in the city is struggling to recover from a string of fires that have killed more than 58 people and left more than 3,000 people homeless.
Caesi Las Vegas was once the largest casino in the world and is widely considered the citys top draw.
It opened its doors in 1986, and its first casino, Caesa Casinos, opened in 2000.
Its second casino, Casinos Las Vegas & Caesas, opened the following year.
The resort has been plagued by fires in recent years and has struggled to bring in new revenue, even as hotel occupancy has soared.
Wynnes, which has also struggled to keep its casinos afloat, has also been struggling with the recession.
Wynnas Las Vegas opened its first hotel in 2005.
The resorts and resort hotels have been plagued with fire issues for years, and have been the subject of numerous lawsuits by people who claim they have been left out in the cold due to the resorts poor management and the resort’s limited fire and ventilation services.
Wynner Las Vegas The Wynn resort opened in 2010 and closed in 2017.
The casino was the largest in Las Peñas and has been the target of numerous fires in the last several years.
Wynners Las Vegas Hotel reopened in 2016 and reopened in 2019.
The hotel has had fires at its two casinos, the first in the mid-1990s and the second in 2016.
Wynnedges Las Vegas reopened in 2020 and reopened earlier this year.
Wynnen Las Vegas closed its resort in 2016, and reopened with a large fire at its casino.
Wynning Vegas, a Las Vegas-based resort hotel, reopened in 2018.
Wynney Las Vegas began operating its Las Vegas Resort in 2002.
Wynny Las Vegas reopened its hotel in 2019 and reopened as a new hotel in 2021.
Wynne Las Vegas shuttered its hotel, and was rebranded Wynn Resort Las Vegas in 2018, and opened Wynn Luxury Resorts in 2018 and 2019.
Wynnn Las Vegas Resorts reopened its resort last year.