An artist rendering shows what Gansevoort Las Vegas was to look like upon completion. (Caesars Entertainment)
LAS VEGAS (FOX5) -
In a surprise move, Caesars Entertainment on Monday announced it has ended its partnership with the Gansevoort Hotel Group.
The two were constructing the Gansevoort Las Vegas, a luxury hotel-casino at the site of the old Bill's Gamblin' Hall on the Las Vegas Strip. The end of the partnership doesn't signal the end of the hotel, however.
"The fact that they removed Gansevoort as partners isn't really going to affect the project itself," said David Schwartz, director of the Center of Gaming Research at UNLV. "Basically, it will go forward as it is now. You've got the same restaurants in there. You'll have Victor Drais doing the nightlife. It's going to be a different name, most likely, and a different management team."
Schwartz said the move by Caesars came after allegations surfaced tying a Gansevoort investor to organized crime.
"It's interesting. Over the weekend we found out in Massachusetts the partners of Caesars in a proposed casino dropped Caesars as a partner, allegedly over concerns of possible organized crime ties between somebody involved with Gansevoort, so it seems like this has been a little bit of a domino," Schwartz said.
"It is difficult to track the background of everybody in another country involved with the company. I think this shows the high standard to which gaming is held," Schwartz continued. "They do a lot of investigations with a lot of people, so they are very strict and very thorough."