Plans for refurbishing the Moulin Rouge casino revealed
A group of investors, named "Las Vegas Moulin Rouge LLC," plans to revamp the closed Moulin Rouge Casino, costing approximately 1.6 billion US dollars, or roughly 1.4 billion euros. The iconic venue on Bonanza Road was shut down in 1955 but has a rich history. Here's a roundup of the latest developments.
Three-Phase Renovation
The Moulin Rouge Casino in the heart of Las Vegas' gambling hub is slated for renewal by LVMR LLC. The casino, which has been idle for roughly 64 years, will eventually become a meticulously restored establishment. First, though, the investors have to procure the property— acquired for 9.5 million US dollars ($8.5 million euros), according to media reports. The funds are ready in an escrow account. Once the deal closes (scheduled for August 2), the transformation will begin with a three-part plan. This ambitious project comprises a casino, a hotel, shopping malls, leisure facilities, and restaurants.
The initial phase of revitalization involves constructing a 400-room hotel, complete with a sports betting lounge, a pool bar, several dining establishments, and a shopping mall. Additionally, the famous neon signs along the façade will be preserved and illuminated once more. In light of the historical value of the casino, a 5,000-square-meter museum will be integrated into the premises. The estimated cost for this initial phase stands at about 400 million US dollars ($359 million euros).
Next on the table is the second phase, involving the building of additional gaming spaces, retail areas, eateries, and a range of entertainment options, such as a 1,200-seat showroom and a 200-seat jazz center. Moreover, there are plans to add a 4,645-square-meter congress area, with corresponding parking lots, and a 1,000-room hotel. Additionally, the budget for this intermediate step is set at 400 million US dollars ($359 million euros).
The third—and most expensive—phase targets the purchase of adjacent land for residential and commercial purposes. Furthermore, the development of a downtown-level shopping mall with a 12,000-seat arena is in the works. All told, the expenditure required for the final stage totals 800 million US dollars ($717.5 million euros). However, specific dates for the completion of the construction work have yet to be revealed.
A Challenging Location
Investors are well aware of the situation's challenges—the Moulin Rouge's locale is not on the famous Las Vegas Strip, and Bonanza Road has historically been a neglected thoroughfare for global gambling enthusiasts. To overcome this hindrance, the goal is to revive the whole Las Vegas West district.
The would-be proprietors first intended to buy the Moulin Rouge in 2004 for $12.1 million ($10.8 million euros). Unfortunately, that deal fell through for the reasons stated above. Not long thereafter, in 2008, an investor group was on the brink of acquiring the property and grounds, only to fall into bankruptcy proceedings. According to the Las Vegas Review-Journal, the 2008 investors have yet to shake off significant debts. Yet, LVMR remains positive about their task. LVMR's financial manager, Gene Collins, expressed his sentiments thusly:
"When people around the world see the Moulin Rouge is undergoing renovation, they'll want to visit Las Vegas. They'll grasp that it's an international affair, not just a Westside affair."
Storied Casino
The very first opening of the Moulin Rouge was held on May 24, 1955, due to civil rights concerns. African American residents and black patrons demanded equal rights and a rule that allowed Black people to enjoy the pleasures of gambling, sleeping at hotels, or eating and drinking in the city. Back then, only white people could indulge in these activities.
During this time, the Moulin Rouge became the country's first fully inclusive casino-hotel complex, and the first non-segregated gaming venue in Las Vegas. At the Moulin Rouge, Black musicians, such as Lena Horne, Nat King Cole, Count Basie, Louis Armstrong, and Duke Ellington, were allowed to perform and interact openly with the audience, albeit for a fleeting time. Many Black artists played to enthusiastic audiences, furnishing a unique moment in Vegas' rich past.
One notable entertainer, Sammy Davis Jr., described the period as "In Vegas, our skin didn't have color for 20 minutes. As soon as we left the stage, we were color again. The other performers could hang out in the lounge and have a drink, but we had to go through the kitchen with the garbage."
As a result of the Moulin Rouge's historical importance, it's interesting to see it being given new life.
The Moulin Rouge signifies the dawning of an accepting time in the United States. The structure was enlisted to the National Register of Historic Places in 1992 and emerged as a token of the growth of black civil liberties. Throughout the years, the establishment has been ravaged by various fires and has been reconstructed on several occasions. For extensive periods, the Moulin Rouge has been welcoming guests for eight hours every two years to preserve its gambling permit in Las Vegas.
Moreover, the casino's story spawned a musical in the film industry in 2001. Many artists, such as Lady Gaga and Aerosmith who frequently take the stage in Las Vegas today, profess to be intrigued by the Moulin Rouge's past, and credit it for their musical inspiration. This high level of popularity could potentially pave the way for the venue's resurrection.
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Source: www.onlinecasinosdeutschland.com
