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The History of Caesars Palace

May 30, 2014 by · Leave a Comment 

This article was written by Phineas Upham

That’s not bad grammar, Caesars Palace really is spelled without an apostrophe. Jay Sarno, the creator of the casino/hotel, said that he wanted all of his guests to feel like royalty.

He began construction on his hotel in 1962. Sarno relied on many contracting companies to help him craft the exact aesthetic he was looking for from the casino. He wanted fountains, swimming pools and architecture designed to emulate the opulence of the Roman empire. He took out a loan for $10.6 million dollars to help pay for the construction of the 34-acre resort. All told, Sarno’s final costs would be close to $25 million.

His inauguration took place in 1966, hosting Phil Richards and Andy Williams that night. His original idea was to feature a busty Roman goddess feeding grapes to a toga-clad man holding a phallic knife. He was all about design and conception. His partner handled the financial aspects.

Caesars was and is known for its decadence, but it became something of a family attraction in 1996. Caesars magical empire featured optical illusions, fire dancing, underground tunnels and an invisible pianist.

Guests would enter the celestial court via a magical elevator that transported them beneath the ground. In reality, the guest would not be moving at all, but that was the kind of magic Caesars sought to create.

Caesars has seen multiple headliners over the years, including Frank Sinatra. Mariah Carey sang there, as did Bette Midler and Elton John.

Phineas Upham

About the Author: Phineas Upham is an investor at a family office/hedgefund, where he focuses on special situation illiquid investing. Before this position, Phineas Upham was working at Morgan Stanley in the Media & Technology group. You may contact Phineas on his LinedIn page.

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