For months, Las Vegas residents have been waiting to hear news about who will purchase the historic Moulin Rouge Casino. Several companies announced they were interested in purchasing and renovating the gambling establishment, yet none officially went ahead with the sale. Now, new plans for the Moulin Rouge Casino are being revealed.
It’s an exciting time for Las Vegas gambling fans. Today, we’re looking at exactly what’s being planned for this gaming venue. Let’s get into it!
Several Companies Attempted to Purchase Moulin Rouge Casino
The Moulin Rouge Casino in Las Vegas, Nevada is one of the most historic gambling venues in the country. It opened in 1955 and made history as the first non-segregated gambling venue in Las Vegas. Unfortunately, this casino was forced to close its doors after just a year of operating.
Since then, this casino has been empty. Interestingly, the owners have maintained a gambling license here and stay open by offering limited gambling options for the state-mandated eight hours every two years.
Many have called for Moulin Rouge Casino to sell. Hope is that a company will purchase and renovate the casino. Several put their name in the mix, including the National Restaurant Services and Southern Nevada Regional Housing.
This week, a major company revealed its plans for the land. Let’s look at what’s being discussed.
Las Vegas Moulin Rouge LLC Ready to Purchase Casino
For a time, Clark County bid to purchase this casino. Many local residents didn’t want to see the famous casino and hotel owned by the government. Eventually, Clark County dropped their bid. Now, a new company is gearing up to buy this land and property.
Las Vegas Moulin Rouge LLC is revealing its plans this week. The company plans to purchase the property for $9.5 million. They also plan to invest $1.6 billion to add a brand new development here.
Scott Johnson, an official in Las Vegas Moulin Rouge LLC expects the deal to be closed by August 2nd. A lender has already approved financing, according to Johnson.
Transforming Las Vegas’ Westside
The Moulin Rouge Casino is located in the historic Las Vegas Westside area. For decades, this district has been ignored by casino operators and tourists. Hope is that the new development will change how the Westside is viewed.
Las Vegas Moulin Rouge LLC plans to invest more than $400 million directly into the new Moulin Rouge Hotel & Casino. It will feature more than 25,000 square feet of gambling amenities and 400 guest rooms. There will also be two restaurants, a swimming pool, and a nightclub.
Gene Collins, another official in the LVMR LLC, spoke to the media about his goals for the new casino.
“When people see the Moulin Rouge is being developed, all around the world, people want to come to Las Vegas,” he said. “It’s not a Westside thing, it’s an international thing.”
The company will have until Tuesday to deposit the purchase price into escrow. Make sure to stay tuned for updates on this situation in the future!