The Moulin Rouge Las Vegas Sale is Falling Apart

Over the summer, owners of the Moulin Rouge Casino in Las Vegas announced they were interested in selling their historic gambling venue. Several groups quickly expressed interest in purchasing the casino. Unfortunately, it appears the Moulin Rouge Las Vegas sale is now falling apart.

Las Vegas Moulin Rouge Sign

It’s disappointing news for those who wanted to see this old casino renovated. Today, we’ll look at why exactly the Moulin Rouge is so famous. We’ll also talk about who’s talked about purchasing this property. Let’s get into it!

Moulin Rouge Owners Continue Search for a Buyer

The Moulin Rouge is one of the oldest and most historic gambling venues in Las Vegas. It opened in 1955, at a time when civil rights was a major talking point across the country. Owners of this venue decided to make it the first desegregated casino on the Las Vegas Strip.

During its four and a half months of operating, this was one of the most popular venues in Las Vegas. Celebrities from all over the country came to gamble the night away here. Entertainers would fly in to perform and enjoy the atmosphere.

Unfortunately, the owners of this gambling venue didn’t keep track of their money. The Moulin Rouge Las Vegas was quickly forced to close its doors and never reopened. It was terrible news for fans of this gambling venue, many of whom felt it would start operating again in just a few months.

The owners of this casino have been looking for a buyer. For a time, it appeared that several companies were ready to seal the deal. Unfortunately, it appears that this sale is no longer in the works.

The Moulin Rouge Las Vegas Sale Has Not Been Finalized

Back in early July, several Las Vegas-based companies announced that they were interested in purchasing this historic casino. The owners of the Moulin Rouge Las Vegas then began searching for which of these potential buyers would make the best offer. District Judge Elizabeth Gonzalez bid $6.2 million for the venue, yet locals voiced their disapproval of her proposal.

Next, the Las Vegas National Restaurant Service claimed that it was interested in buying. Once again, these plans fell through. A company called Las Vegas Moulin Rouge LLC then announced it was ready to buy the casino. As you probably guessed, these plans fell through, as well.

Kevin Hanchett, a court-appointed owner of the Moulin Rouge Las Vegas, then told the media that he’d received three new offers. The most promising company was Anderson Capital, which bid $9.5 million. Hanchett claimed that he was waiting for a $4.5 million deposit to clear. As of today, the money has not arrived.

It has to be frustrating news for Hanchett. There’s clearly interest in this venue and its land yet no one seems ready to close a deal. Hopefully, this will change in the future.

More Gambling Venues Set to Open in Las Vegas

The Moulin Rouge Las Vegas may not be up and running again for years. Fortunately, there are several new gambling venues opening in this city, most of which are expected to be fantastic. Resorts World, currently being constructed in the northern area of the LV Strip, is one of the most highly anticipated venues here in years.

This massive casino-resort is being built by Genting Group. Its opening has been delayed for years, partly due to the massive cost it’s taking to build. Company officials claim that it will be up and running by December of 2020.

The new Virgin Hotel in Las Vegas will be opening up next year, too. Virgin is currently in the process of converting the Hard Rock Las Vegas Hotel & Casino into its own gambling venue. Based on what we know about this new hotel-casino, it’s going to be fantastic.

Owners of the Palms Casino-Resort, located off the Las Vegas Strip, have also been renovating their property. Recently, the casino revealed its newest artwork.

The Moulin Rouge Las Vegas is still just a dilapidated building. We’ll need to wait and see which company finally decides to purchase this venue.

Stay tuned for more news on the situation over the next few weeks!