Caesars announced in March 2013 that the hotel would be renovated at a cost of $185 million and converted to an outpost of the New York-based Gansevoort Hotels chain of boutique luxury hotels, with 188 rooms, a 40,000 square foot casino, and a 65,000 square foot indoor/outdoor beach club/nightclub overseen by Victor Drai. In October 2013, however, Caesars terminated its agreement with Gansevoort and said that it would continue the redevelopment of Bill's without the Gansevoort name. The move came after Massachusetts gambling regulators recommended denying Caesars a license for a proposed casino at the Suffolk Downs racetrack, due to alleged connections between one of the Gansevoort's investors and the Russian mafia.