Bye-bye Stardust, hello Borgata West! That’s the skinny making the rounds, and, I might add, worth listening to.
A pipe in the know says Boyd Gaming is drafting plans for a Vegas version of the Borgata, which will replace the Stardust Hotel on the Strip.
"Nothing is ready for public consumption, but the early word is the new hotel will be a palace, along the lines of its Atlantic City counterpart," the pipe said.
The project could cost in excess of $1 billion, and if the Boyd group can’t come up with the bullets, a partner with deep pockets could be waiting in the wings.
The Stardust has been a Strip landmark since it was built in 1958 by L.A. mobster Tony Cornero, who ran the gambling ships that cruised off the coast of California.
Besides its famous race and sports book, the Stardust was noteworthy for opening the first topless show in Las Vegas, the Lido de Paris in 1959.
The hotel celebrated its 45th anniversary in July, and even though it will eventually fall to the wrecking ball, the Stardust has enjoyed a solid cash flow of about $15 million a year.
The decision to redevelop the Stardust site was probably influenced by the anticipated 2005 opening of Steve Wynn’s new resort across the street. gamingtoday.com |
