Caesars Palace tops off new $1 billion tower

LAS VEGAS, Nevada -- Despite the current economic situation, Caesars Palace is still growing. The hotel/casino celebrated the topping off of its sixth high-rise tower today, The Octavius Tower. The new tower is slated to open in summer 2009.

Located along Flamingo Road on the southeast corner of the Caesars Palace property, the new 23-story, 665-room Octavius Tower will include 594 hotel guest rooms and 71 suites.

The addition of the Octavius Tower will bring the room inventory at Caesars Palace to more than 4,000. Plans for the $1 billion addition have been in the works since 2004.

Wilson Associates will be designing the interior of the Octavius Tower. General manager John Unwin said the design will be more contemporary and rich, but still staying with the signature Caesars Palace style. Wilson Associates' previous work includes Four Seasons in Hawaii and California and Disney World resorts.

Construction workers raised a beam signed by all Caesars Palace employees, including those who have been with the casino since it's 1966 grand opening.

"Caesars Palace has lead four decades of changes…The essence of Caesars has not changed; we've only grown to give more experiences for our guests," general manager John Unwin said.

The ceremony also marked the expansion of the Garden of the Gods complex, convention facilities and a new outdoor wedding venue, all to open in summer 2009.

Although Caesars Palace president Gary Selesner admitted the resort is feeling the economic hit in some facets of business, he said the expansions will pay off in the future.

"Sure, there are some difficult economic conditions right now, but this tower is going to be around for 30, 40, 50 years. We're building for the future," Selesner said. "We are as confident as possible about our ability to fill this new tower and all of Caesars Palace next year but this is really more about two or three years down the road."