Another legendary landmark Las Vegas hotel has put up a permanent no vacancy sign. Binion’s announced Monday it will shut down its 365 rooms on Dec. 14. The casino and other operations, though, will reportedly remain open.
Binion’s officials have said the reason for shutting down the hotel operations was because of the ever slumping economy which has forced room rates to drop and vacancies to rise.
Even though the casino will stay open, there’s no question the decision will be a blow to a downtown that has struggled — even during the talks of revitalization.
It’s been a staple on Fremont Street for more than half a century. Word of the closure spread quickly.
Binion’s original coffee shop and Keno operation will also close, but the entire casino operation — including the Sports Book and the famed poker room which hosted the World Series of Poker from 1970 to 2005 — will stay open.
But the hotel closure could impact gaming.
Las Vegas Mayor Oscar Goodman is trying to help Binion’s owners and lenders hammer out a deal to keep the hotel open. He said he does not think this will impact his plan to revitalize downtown.
“Once you start saying you’re not going to do those things, then you recede. Vegas is a very funny place. We go through these ups and downs. We’ve been here before, perhaps not to this level, but I don’t blame this on Las Vegas. Las Vegas has the infrastructure in place. We’ve got the best hotels, restaurants, shopping and entertainment,” Goodman said.
Goodman said it’s hard to find investors to come in with fresh money to refurbish rooms, but he’s not giving up. “We have to keep pushing forward, now more than ever,” Goodman said.
About 100 people will be laid off when the hotel closes.
Anyone who has a reservation after Dec. 14 is being referred to Binion’s sister property across the street, The Four Queens.
Most of the restaurants, including the famed Binion’s Ranch Steakhouse, will remain open.