LAS VEGAS (CBS/AP) — Caesars Entertainment Corp. executives say they plan to open a $550 million outdoor promenade in June 2013, linking its casinos on the east side of the Las Vegas with restaurants, bars and a 550-foot observation wheel.

Caesars spokeswoman Jan Jones told reporters Wednesday that the Linq project will employ 3,000 construction workers and cater to a set of tourists what will make up more than half the market in four years.

As part of the plan, the Imperial Palace will soon be a memory.  The casino and hotel will remain, but the name “Imperial Palace” will no longer be utilized.  No word yet on what name or theme the property might take on.

The centerpiece of the project is a soaring wheel — taller than the London Eye and the Singpore Flyer — with spherical cabins that can hold 40 people each and take 30 minutes to make one revolution.  The wheel has been dubbed the “High Roller.”

Officials say the project will call for the existing O’Sheas casino on the Las Vegas Strip to be closed and moved.

Copyright 2011 The Associated Press contributed to this report.


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