The difference between being on The Strip, or just really close to The Strip, can make a very large financial difference. Hooters Casino Hotel was sold in May to Trinity Hotel Investors for $53.8 million after a decade of struggle, despite a recognizable brand name and an asset of the world's second largest Hooters restaurant.
New owners Trinity have partnered with Holiday Inn for the forthcoming makeover and the first order of business is to split the hotel and casino divisions. The Holiday Inn Hotel will operate under a LLC dubbed HILV, which also appears to be the inspiration for the new name for the casino. To be marketed separately from the hotel, the 30,000-square-foot gaming floor will now be known as the Hive Casino.
No word yet if the Hooters restaurant will remain on site, three months after a portion of the world's largest Hooters debuted at the Palms Pool.
A timeline for the casino and hotel re-branding has not been revealed, but the owners are eager to start fresh. An estimated $450,000 budget has already been allocated for structural repairs to the parking garage.