Historic Moulin Rouge Casino Proposed to Receive $1.6 Billion Revival Effort
LAS VEGAS, NV – Long vacant and empty, the famed Moulin Rouge casino in Las Vegas may finally be set to receive a new lease on life by Las Vegas Moulin Rouge LLC, a company that has plans to purchase the property as a prelude to a proposed $1.6 billion revival effort.
The Moulin Rouge holds a place in history as the first gambling establishment to not exclude minorities of any ethnic group and while it was in operation, it was heralded as one of the most popular casinos in town. However, aside from a bi-annual mobile gaming event held in the facility’s parking lot in order to retain its permanent gaming license, the Moulin Rouge has otherwise been abandoned and dust-ridden for decades.
Several companies have proposed plans to revive the Moulin Rouge over the years, but Las Vegas Moulin Rouge LLC is the closest thus far to making those plans become a reality. First, the company would have to raise the capital in order to purchase the site – the current asking price is $9.5 million – then they would be required to provide proof that they would be able to provide the capital to carry out the proposed revival work, which the company has stated would be carried out in three phases.
The initial phase would consist of constructing a 25,000 square-foot casino, a 400-room hotel, an entertainment center, a convention center, and a variety of other features that would usher the Moulin Rouge into the modern age. Also, as a testament to the venue’s important place in local history, there are also plans to establish a 5,000 square-foot museum dedicated to the casino’s past.
The second phase would feature an expansion of the casino, convention center, and hotel, and the addition of retail and dining options, in addition to more entertainment options. Final amenities to be added – if available space allows – would be more retail space, business offices, and a 12,000-seat arena.
The building was added to the National Register of Historic Places in 1992. As of press time, it remains to be seen if Las Vegas Moulin Rouge LLC can pull their ambition plans off, but if so, they will have helped to revive an important part of Las Vegas’ past.
Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.