Another Vegas Casino Closure Looms

The Plaza Hotel & Casino in downtown Las Vegas is closing its 1,000-room hotel and parts of its casino, and execs have told 400 workers they face layoffs in the next two months.

The nearby Binion’s Gambling Hall & Hotel closed about 350 hotel rooms and laid off about 100 workers last year.

The company said the closure would be followed by renovations of guestrooms and hallways, but property manager Bobby Ray Harris said in a memo the Plaza would be minimizing operations.

“I have suggested and been convinced for many months that an ongoing ‘Band-Aid’ approach will not significantly change the operating results and that only substantial improvements to the property can make it successful in the long run,” the memo said, according to the Las Vegas Sun. “The economy, coupled with the need for a significant capital infusion into the property, has affected the Plaza’s ability to remain competitive in the industry.”

Downtown Las Vegas casino revenue fell for the 26th consecutive month, according to the state Gaming Control Board, and the July year-over-year decline was 19.2 percent to $32.1 million.