Question-and-Answer Session
Operator
(Operator Instructions). Your first question comes from the line of Kevin Coyne with Goldman Sachs.
Kevin Coyne - Goldman Sachs
Hi, thank you for taking my call. Just a few questions. Just as we think about CapEx for this year and next year, obviously, we've seen some changes from some of your competitors in terms of the pipeline. And I was wondering if you could give us a sense as to what you're thinking, obviously, you're moving forward on Caesars Tower and the convention spaces.
Is there any plan or possibility to delay or postpone some of these plan to growth CapEx in light of the challenging times? And maybe as you think about 2009 CapEx, I know you've given us some '08 guidance. If you can kind of help couch 2009 CapEx, where do you think that is going to be?
Gary Loveman
Well, this is Gary. I am going to take a quick pass at the overview nature of your question and let Jonathan provide any specifics. We have had in the pipeline a series of projects that are now online, Horseshoe Hammond opening today, here is Atlantic City having been completed recently. That leaves us really with one significant project, the expansion of Caesars Palace which we detailed a moment ago. We are moving fully ahead on that project which we consider to be strategically very important, given the other aspects that are coming online in Las Vegas.
Once that project is finished, there are not other very large or comparably-sized capital projects in the pipeline at the moment. We are certainly scrutinizing our maintenance CapEx carefully as you would expect us to do in light of current circumstances, and of course, the total CapEx spend is a consequence to the elimination of these programs that have just been completed will cycle beyond fairly substantially. Jonathan, do you want to speak as specifics?
Jonathan Halkyard
Sure. Just as it relates to the remainder of 2008, we have approximately $100 million left depending on Harrah's Atlantic City, and although the project is completed, it's common for these things to be worked out over a period of time after the projects have completed. Roughly the same amount on our project in Hammond. And our remaining spending this year on the Caesars Palace expansion will be approximately $250 million to $275 million.
The bulk of our 2009 growth capital, as Gary described will be the completion of what is underway at Caesars Palace, the convention center and the hotel tower along with the beginning of that second phase. That will be the majority of our capital at this point in 2009, and that will be approximately $500 million of spending. And then, I believe in terms of our maintenance capital spending, 4% to 5% of net revenues is still a good guideline.
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