Will Earl’s Casino be a Success?

Having opened a casino-hotel in Las Vegas, Planet Hollywood co-founder Robert Earl is coming back after having been filed for bankruptcy and loss of friends nearly a decade ago.

Earl bought the bankrupt Aladdin casino-hotel in 2004. By that time his own holdings had fallen by $1 billion as the restaurant company he built filed for bankruptcy protection again in 2001.

Business at the Aladdin casino-hotel collapsed following the terrorist attacks in New York and Washington, D.C., in 09/11/2001. Now, it’s got another brand – the Planet Hollywood Resort & Casino. So, you’ll hardly find there any Middle Eastern Motif.

It has become known that the casino property is still losing money. The loss comes to $15 million in the quarter. Despite it Earl claims that he and his partners have already doubled their investment – at least on paper. The inexpensive purchase turned out to have taken place just at the right time.

Earl promises not to repeat his mistakes. Just one change at a time and no quick expansion, though he is already planning another Planet Hollywood casino, in Atlantic City, N.J., and yet another in Macau.

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About Mark Newman

Mark Newman - was born in 1971 in Pictou, a town located on the beautiful Northumberland Shore of Nova Scotia, Canada. In 1998 he graduated from Acadia University (Nova Scotia, Wolfville) with the Master’s degree in social studies. Mark simply adores his wife and sons. Considers poker to be one of the most exquisite kinds of art and rarely misses his chance of practicing.