$200 million Re-construction; Opened In 1955 as
the First Racially Integrated Casino
|LAS VEGAS, Jan. 29, 2004 - The Moulin Rouge Development Corporation
(MRDC) today announced they have finalized the purchase of the famous Moulin
Rouge Hotel & Casino property for $12.1 million.
"We will be bringing the promise of the original Moulin Rouge Hotel
& Casino to reality," MRDC CEO/President Dale Scott said. "The
new Moulin Rouge will both commemorate history and celebrate the future."
On Thursday, May 29, 2003, an arsonist's fire ravaged the casino and destroyed many irreplaceable historic relics, photos and the famous Moulin Rouge wall mural. The entire front fagade and historic Moulin Rouge neon sign miraculously survived the three-alarm fire, along with the original tile-covered columns and the signature tower. These structures, along with the original hotel where many minority celebrities slept when they were shunned from Strip hotels, will provide the foundation from which the new Moulin Rouge will be rebuilt.
"The historical significance of this property cannot be overstated," Scott said. "It has passed from one good intentioned soul to the next over the years. For the first time the Moulin Rouge will be provided the kind of capital necessary to bring it back to life."
The Moulin Rouge will cost nearly $200 million when it is completed, and is being financed through a consortium of private lenders and investors. Construction will begin the third quarter of 2004 and is slated for grand opening in December 2005.
"Once construction is completed, the Moulin Rouge will be brought back to its original grandeur of the mid 1950s, where on any given night you might see celebrity entertainment from Nancy Wilson to Beyonce Knowles, or any number of rock and pop stars," said MRDC Vice President/General Counsel Rod Bickerstaff.
The property will include 500 hotel rooms and suites, 20 corporate suites with a private registration area, a 40,000-square-foot casino with 1,000 slot machines, 40 card tables and a sports bar.
Entertainment options from old to new will be found in the showroom replicating the original Tropican-can Room, a replica of Club Rouge, an upscale high-energy bar at the top of the hotel, a Motown Cafe, a nine theatre movie complex and a 117,000-square-foot events center.
Nearly 9,000 square feet will be dedicated to the community for use by churches, children and other community groups. And, the Moulin Rouge Museum & Cultural Center will display the history of the property through art, artifacts and photos gathered from previous owners, friends and the Nevada State Museum.
Located on Bonanza Road and the I-15, the Moulin Rouge's new owners believe the revitalization of the property will be an anchor for redevelopment of West Las Vegas.
"Both during construction and when the new hotel opens, we will be providing hundreds of jobs and providing a top-quality entertainment venue for residents of this community," Scott said. "We think this project will draw other businesses and other entrepreneurs to the area as well and it extends the redevelopment of downtown into west Las Vegas."
MRDC is a minority-owned company established for the sole purpose of revitalizing the famous Moulin Rouge Hotel & Casino in west Las Vegas.
|Also See:||Columbia Sussex To Reopen The 795 room Maxim, $40 million Renovation, New Name - the Westin Casuarina Hotel and Spa / Feb 2003|
|Caesars Palace, Once at the Forefront of Themed Resorts in Las Vegas, Details $376 million Expansion Designed to Completely Remake Itself / Sept 2003|