Analysis: Hooters Casino Bankruptcy Talk Originally Caused by Bad Business Plan
When the Hooters Casino opened in 2006, the market in Las Vegas had already been shifting away from themed casinos. Caesar's Palace had already begun to reduce the amount of kitsch that it had around the casino. Luxor had already done the same with a lot of the Egyptian statuary and theme. Planet Hollywood had opened and it was more glitz than theme (remember that it replaced the theme-heavy Aladdin). Las Vegas was moving away from themed resorts.
The owners of the Hooters Casino should have gotten the clue. They obviously didn't and now we they are talking about a possible Hooters Casino bankruptcy. Granted, those that are in power with the Hooters Casino state that one of the main reason why they have had poor numbers was because of the soft economy this year. They state that the economy is the main reason for talk of a Hooters Casino bankruptcy.
Granted, I would not expect a company to state that it was headed toward a possible bankruptcy because it created a casino that was outdated to begin with. The Hooters Casino would have been a better idea in say, 1997 when the idea for themed hotels was the huge rage in Las Vegas. Instead, the idea for the Hooters Casino came late in the current life cycle of themed casinos. Instead of creating a hotel that stood out from the rest for opulence and customer service (the current trend) a Hooters Casino bankruptcy is being talked about because the original business plan was ten years too late.
There are many that watch the gaming industry that hope that Hooters Casino is able to reorganize quickly so that it can emerge as a stronger company. A long and drawn out Hooters Casino bankruptcy could hurt the company even more. During reorganization (remember, a company can reorganize without filing for bankruptcy), Hooters Casino needs to take a look at the overall business plan and do something to bring it up to date.
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Published by L. Vincent Poupard - Featured Contributor in Arts & Entertainment and Travel
L. Vincent Poupard is known for his insightful news commentaries and unique takes on the entertainment industry. Along with his career in writing, he works as a political/business consultant and has helped b... View profile
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