Over the last decade, billions of dollars have been wasted trying to construct extravagant casinos. While some are now open, others remain vacant, serving as reminders to gamblers of the unpredictable nature of this business.
Casino Fails and Flops: An Overview examines some of Las Vegas’ greatest losses.
Trump Taj Mahal
In 1990, Donald Trump opened the Taj Mahal, which he dubbed the “eighth wonder of the world.” It was one of his initial Atlantic City casinos but quickly began losing money and eventually went bankrupt twice.
The Taj Mahal was funded with junk bonds, leaving many contractors who worked on it with financial difficulties. One Atlantic City firm that supplied paving stones lost $1.2 million while an Ohio company producing onion domes was shortchanged $2 million.
After multiple bankruptcy filings, billionaire investor Carl Icahn purchased the Trump Taj Mahal. He attempted to save it by purchasing up its debt at low rates. Unfortunately, labor issues and Atlantic City’s decline as a resort and gaming destination ultimately caused the hotel’s closure.
Cosmopolitan
Launching a new product in the business world can be daunting. Even some of the biggest brands have experienced epic failures, from Microsoft’s Zune to Cosmopolitan magazine.
The Cosmopolitan cocktail was first created in 1987 by a bartender at The Odeon in Manhattan’s Tribeca neighborhood. This stylish pink concoction gets its distinct color from adding one ounce of cranberry juice.
It’s an ideal cocktail to enjoy with friends, as it isn’t overly sweet. Unfortunately, its popularity waned over time as the cocktail industry evolved; becoming associated with trashy rich girls and seen as a social faux pas to order one.
The Cosmopolitan was invented at a time when drinks were more complex and complex for customers than they are today. As craft cocktail culture took hold in the late ’90s, however, the Cosmopolitan quickly faded from bartending culture.
Eldorado
Eldorado Resort Casino is conveniently situated in downtown Reno, just a block away from the Reno Arch and only a short walk to the Event Center. This hotel boasts an 81,000-square-foot casino, nine restaurants, as well as a seasonal pool and hot tub for guest enjoyment.
This property boasts an impressive casino floor for its size, featuring more than 1,000 slots and table games. Plus, you can try your luck at some of the newest casino innovations like keno or Pai Gow poker!
Aside from the casino, there is plenty to do and see. Guests can take in a show at The Grand Hall of Stars or dance to county-rock music at Roxy’s. They can enjoy craft beer brewed right here at The Brew Brothers or dine at NoVi, La Strada and Hidden Pizza restaurants, all themed around country rock music.
Caesars Palace
In 1966, Jay Sarno created Caesars Palace with an ambitious vision: to create a hotel-casino that stood out from other Western-style hotels of its era. To achieve this look, he chose Roman decor with fountains and statuary throughout.
He invested $25 million into his vision, and the casino proved a big success – before its doors opened it had already generated $42 million in advance bookings.
Caesars Palace offers the finest celebrity chef dining, an idyllic Garden of the Gods pool oasis and top-notch entertainment. Plus, treat yourself to Qua Baths & Spa or explore shopping in The Forum Shops.
The Book
The Book of Mormon, a comedy featuring two young missionaries sent to Africa to convert natives to the religion of the Mormon Church, has been running since 2010. Created by South Park creators Trey Parker and Matt Stone with Avenue Q composer Robert Lopez, it contains provocative humor that pokes fun at everything from Aids and racism to homophobia and poverty; yet at heart it tells an inspiring tale of friendship and love.
Linq Casino introduced Sticky Chicken in 2018, before Caesars Entertainment merged with Eldorado Resorts and the casino decided to discontinue it permanently. As a failed experiment that failed to generate any income, Eldorado decided it was time to return to basics. They also removed an eccentric food truck called Sticky Chicken as well as an unsuccessful 24-tap self-serve beer wall.
