Binion Hotel, which is a part of one of the attractions of Las Vegas - Binion's Gambling Hall and Hotel, has announced its closure. On 14th of December 2009 hotel will stop hosting guests in its rooms.
The main reason for the closure of the hotel, according to the owners of Binion, is the financial crisis that has caused the general decrease of the room cost in the hotels in Las Vegas and the demand for them.
Binion Hotel is a part of the complex Binion's Gambling Hall and Hotel, located in the heart of the gaming capital of the United States. Binion's Gambling Hall and Hotel - is one of the oldest gambling centers of Las Vegas. It was built in 1951. Today the hotel has 366 rooms. Binion acquired international fame thanks to World Series of Poker, which has been held at Binion's Gambling Hall and Hotel for 34 years until 2005. The status of the attraction of Las Vegas the hotel has acquired also due its glass display case, where 1 million dollars in cash was exhibited. For the last five years, the hotel belongs to the global gambling giant Harrah's Entertainment Inc.
According to the owners of the complex, the closure of the hotel would not entail the closure of the casino. Nevertheless, due to the closure of Binion hotel at least 100 people will lose their jobs.
Closure of Binion hotel is symbolic for Las Vegas, which experiences one of the worst periods in its history. In order to survive in the competitive activity hotels in Las Vegas are forced to offer unprecedented discounts, which, however, plays into the tourists’ hands. Since December 7, 2009, Las Vegas hotels offer a special program of discounts for tourists. The program provides discounts at hotels in Las Vegas for those guests, who have made a room reservation for at least 4 days. In this case, the average size of the discount will be 30% of the standard cost. The program involves a number of famous Las Vegas hotels, including the world-famous hotels The Venetian Resort Hotel and Caesars Palace.