It’s proof that superstar power is a necessary component of a Las Vegas hotel’s success story. In this case, it’s Britney Spears, who helped turn around the fortunes of Planet Hollywood despite critics. Wall Street gaming experts say the pop princess has revitalized the property and helped turn its one-time dismal financial picture into a real profit center.
Financial insiders are paying attention because she’s boosted the hotel-casino’s annual operating earnings by about $20 million. Now we understand why the first run of her contract ending next year was renewed for an additional two years.
Caesars Entertainment, when it was Harrah’s, took over Planet Hollywood after its $870 million default on debt obligations. Wall Street insiders say Britney has been singlehandedly instrumental in helping fill its 2,520 rooms and boosting the profits to nearly $100 million that Caesars is using to modernize the Quad into the new Linq hotel and redecorating and upgrading the rooms and pools at Planet Hollywood.
Queen of Vegas!