Maxim agrees to sponsor casino

Jun 13, 2006 5:00 AM

Maxim, the racy men’s magazine geared to the young and the fearless, has agreed to lend its name to a planned $1.2 billion hotel/casino near Circus Circus.

If the project proceeds as planned, the hotel casino would open in 2010.

"It’s going to be upscale, it’s going to be four star, it’s going to be sexy and flirtatious, absolutely," said Barry Pincus, director of brand development for Maxim publisher Dennis Publishing. "But it’ll also be fun, it’ll be comfortable."

The developer of the hotel/casino is Concord Wilshire Partners, which has about $7 billion in projects under development but none in the hotel/casino business.

Concord Wilshire will reportedly pay Dennis Publishing an upfront fee in the mid-seven figures, as well as a yearly licensing fee (also in seven figures) plus a percentage on food, beverage and retail revenue.

The project is expected to include a 2,300-room hotel, 60,000-square-foot casino, luxury spa, conference facilities, restaurants and a Rande Gerber-operated nightclub called Maxim Lounge.

Dennis Publishing would have no cash investment, nor will it participate in casino revenue. However, it will participate in the design and development of the project.

A management company would be hired to run the operation, which would also include a 3,000-seat concert venue, pool, spa and condo units.

Although Maxim and Concord Wilshire appear confident the project will come to fruition, local critics question the location — an eight-acre parcel north of Circus Circus — not the best for a high-end resort/condominium.

Moreover, Maxim is probably hoping its foray into the hotel/casino business is more successful than some of its other brand extensions. A hair care venture was killed recently, while a deal with an American film company to make movies under the Maxim Presents banner foundered amid "creative differences."