Playboy. The word has conjured up thoughts of beautiful women, swanky bachelor pads and swinging singles for 54 years. Now, on the tail of a 20-year Playboy Club drought, that iconic lifestyle once again leaps off the pages of the famous magazine and comes to life in the Playboy Club at the Palms Las Vegas.

"The bunny is back," said Playboy Magazine founder Hugh Hefner, who opened the original Playboy Club in Chicago in 1960. During the '60s and '70s, dozens of clubs had cropped up all over the world from New York to London and Manila. Top comedy and musical acts performed at and frequented the clubs, which were open to members who held an exclusive key.

Playboy closed its last club in the United States in Lansing, Mich., in 1988, due to the increasing conservative world atmosphere.

"The truth of the matter for Playboy in general, certainly in terms of the bunnies, there was a period in the 1980s and early '90s when the brand was not hot," said Hefner, 81. "I think we went through kind of a politically correct period in America and elsewhere and they were not the best days for Playboy."

Then over the last half dozen years, Hefner said a huge fascination with retro emerged, from James Bond and The Beatles to the bunnies.

"The brand has become hotter on a global level, hotter than ever before," he said. "So we were looking for a place to re-ignite the whole Playboy Club-Casino concept and Las Vegas seemed like the most logical place." Playboy Enterprises, Inc., talked to a lot of different operators in Las Vegas, but Hefner said the partner that made the most sense was the Maloof family, owners of the Palms.

"We made a deal to move into the Palms and I think it was the right choice," he said. "They are very successful at attracting a young, hip audience, from celebrities to high rollers."

Hefner added that Playboy Enterprises plans to open Playboy Club-Casinos elsewhere in the world, including London and Macau.

"It is the relationship, however, with the Maloofs and the Palms that is really the beginning of it all," he said.

Unlike the original clubs, the Playboy Club at the Palms does not require a membership. Anyone is welcome and the club's sophisticated ambience appeals to both men and women alike. While this club doesn't feature live performances, it does offer an exciting blend of hip nightlife and gaming.

Located on the 52nd floor of the Palms' Fantasy Tower, the club features floor-to-ceiling windows, offering stunning views of the Las Vegas Strip and the valley. The decor incorporates rich, dark colors, plush leather sofas and Baccarat crystal chandeliers, which all create a vintage Vegas vibe.

An exclusive VIP area features its own bar, a cozy fireplace and even some retro Playboy brand pinball machines.

The trademark Playboy Bunny logo is prominently displayed throughout the club – from the carpeting and the buttons on the sofas to a giant neon bunny head emblazoned on the side of the building.

For those who are fans of the magazine and its photographs, there is Playboy centerfold wallpaper and 60 plasma screens displaying visual images from the archives of the magazine.

While Hefner had input in the design of the Playboy Club, he said most of the credit goes to the Maloofs and the Las Vegas-based entertainment company that helped open the club, N9NE Group. Michael Morton, a principal of N9NE group, is the son of Chicago restaurateur Arnie Morton, one of Hefner's partners in the launch of the original Playboy Club.

"So our roots run all the way back to the early days," Hefner said.

Besides being a great place to grab a cocktail and enjoy the view, the Playboy Club also offers gaming in the form of blackjack and roulette tables. These aren't your ordinary blackjack tables. The dealers are all beautiful Playboy bunnies, clad in the legendary bunny costume complete with cuffs, collars and cottontails.

Cocktail waitresses also wear reinvented bunny costumes recently created by edgy designer Roberto Cavalli. The new costumes feature designs that include leopard prints and rhinestones - a fitting Vegas tribute. The opening of the club in October 2006 brought back many memories for Hefner.

"I felt a tremendous amount of nostalgia," said Hefner, whose daughter Christie, chairman and chief executive officer of Playboy Enterprises, also attended. "It was a very emotional weekend for me."