Right now, the casino is still taking reservations through early 2008 both online and on the website. So if they are closing, it's not being officially publicized yet.

I've stayed there a few times... it's not a bad hotel (inexpensive for the Strip considering its location) but definitely old and not in the greatest of shape. And to be honest, I won't miss it much if they do tear it down. The problem is all the hotels and businesses around it. Harrah's is going to have to come up with a plan to get the IP removed without too much trouble.