Are there any plans to build new casinos in downtown Vegas?
Las Vegas Advisor Question of the day for Monday September 5, answer tommorrow.
- Thread starter 5teamparlay
- Start date
Lots of condo plans, several nightclubs opening or opened. It seems everything they build there flops, so it would be foolish to invest a good sum of money before downtown revitalizes. Lots of shuffling of ownership changes, though.
ANSWER FROM LVA SITE:
A: No. There hasn?t been a new casino built downtown for the past 25 years, since the Sundance (now Fitzgeralds) opened in 1980. Main Street Station was the last new casino to debut downtown (in 1992; it closed a year later, was sold to Boyd Gaming, and reopened in 1996), but it was in an existing hotel-casino, formerly the Park, which opened in 1977.
Barrick Gaming, after it acquired the Plaza, Vegas Club, Gold Spike, and Western from Jackie Gaughan early last year, continued to buy up a number of marginal downtown properties (motels and vacant land, mostly) with an eye toward serious urban redevelopment on the periphery of Casino Center (a.k.a. Glitter Gulch). In fact, with major fanfare, Barrick announced ambitious plans to revitalize downtown with all kinds of new construction, from casinos to arenas.
However, Barrick got into financial difficulty recently and was itself taken over by Tamares Group, its silent partner. Apparently, Tamares intends to stabilize the existing properties before deciding on whether or not to pursue Barrick?s grand vision.
So, at the moment, downtown will remain as is for the foreseeable future.
A: No. There hasn?t been a new casino built downtown for the past 25 years, since the Sundance (now Fitzgeralds) opened in 1980. Main Street Station was the last new casino to debut downtown (in 1992; it closed a year later, was sold to Boyd Gaming, and reopened in 1996), but it was in an existing hotel-casino, formerly the Park, which opened in 1977.
Barrick Gaming, after it acquired the Plaza, Vegas Club, Gold Spike, and Western from Jackie Gaughan early last year, continued to buy up a number of marginal downtown properties (motels and vacant land, mostly) with an eye toward serious urban redevelopment on the periphery of Casino Center (a.k.a. Glitter Gulch). In fact, with major fanfare, Barrick announced ambitious plans to revitalize downtown with all kinds of new construction, from casinos to arenas.
However, Barrick got into financial difficulty recently and was itself taken over by Tamares Group, its silent partner. Apparently, Tamares intends to stabilize the existing properties before deciding on whether or not to pursue Barrick?s grand vision.
So, at the moment, downtown will remain as is for the foreseeable future.