Big Changes Downtown: 'New' Nugget, Plaza To Expand
New Life For Struggling Downtown
UPDATED: 4:34 p.m. EDT May 14, 2004
It's unlikely you'll find any story about downtown Las Vegas that doesn't include the word "struggling" in it. But some big changes are on the way aimed, yet again, at rescuing the neighborhood and pumping some much needed life into it.
The Golden Nugget has new owners and they celebrated the beginning of their tenure at the hotel with a star-studded concert last week. Headlined by Tony Bennett and singer Jewel, it was meant to convey the "new meets old" ethos the owners intend to infuse into the hotel -- sort of a cool, young, hipster vibe where it's ok to like Bennett and watch MTV at the same time.
The exact details of what the Internet millionaires plan on doing to the hotel haven't been released but expect both a physical and an atmospheric overhaul aimed at drawing a new clientele (read: younger).
Barrick Gaming also got some good news a couple of weeks ago as its purchase of several of Jackie Gaughan's downtown Las Vegas properties was approved. The company plans to invest hundreds of millions of dollars in the area with The Plaza leading the charge as the linchpin of redevelopment.
Under the plan, The Plaza, which sits at the head of the Fremont Street, will get 1,200 new hotel rooms, 1,200 time shares, a new outdoor arena, and a bridge to the Las Vegas Club hotel across the street. A general "spiffing up" is also on the bill for the '70s era hotel, something that is desperately needed in our opinion.
The company also plans to buy a couple of smaller hotels on Main Street near Fremont Street and redevelop the entire block with a new Latino-themed hotel and casino.
Meanwhile, the legal maneuvering surrounding the sale of the legendary Binion's Horseshoe Casino to MTR Gaming and Harrah's continues and the doors remain closed as of press time (although that may have changed dramatically by the time you read this). The whole mess is complicated and not terribly interesting, mostly having to do with land leases and back payment of fees and…zzzzz. I know. So let's stick with the interesting parts, shall we?
Under the proposed agreement, MTR Gaming will own the hotel and casino and the Binion's name while Harrah's will own the Horseshoe name, the World Series of Poker, and will manage the casino for at least one year. Harrah's had made very public statements about moving the poker series out of its downtown home after this April's edition but that made the very vocal Mayor Oscar Goodman a little peeved, especially considering the fact that he's busy planning the city's centennial for May 2005.
This led the city council to hem and haw over proposed liquor and business license transfers for Harrah's that should've been rubber stamped without thinking about it. Harrah's blinked and has now agreed to keep the WSoP at Binion's at least through 2005. Shortly thereafter the city council unanimously approved all the in-question licenses.
So when will Binion's reopen? Excellent question. Everyone wants it to be as soon as possible and a June 1st date has been bandied about more than once. But that's just a couple of weeks away and whether all parties involved can get all of the legal and bureaucratic nightmares solved before then is highly in question.
Regardless of the exact opening date, the new owners will undoubtedly pump some much needed money and energy into the joint, which can only be a good thing in the long run.
Whether all of this is enough to remove the word "struggling" from future stories about downtown Las Vegas is yet to be seen.
This Week's Trivia
Q: The new Wynn Las Vegas will be the most expensive hotel ever built. At over $2 billion it works to around $625,000 for every room in the hotel. Prior to this, which Vegas hotel had the highest room to cost ratio? ANSWER The Weekly Trivia Question is sponsored by the Online Memorabilia Museum at Vegas4Visitors.comThe Full Story
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