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Site of the old "Stardust"

Discussion in 'Casino Industry & Development' started by MikeOPensacola, Oct 28, 2012.

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  1. MikeOPensacola

    MikeOPensacola VIP Whale

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    Does anyone know what the plans are for the land where the Stardust used to be. Last I heard the Boyd group had plans for a big development there, but that was years ago. Haven't heard anything about that area in a long time. Also what about the area where The Frontier used to be? Any plans for that. Thanks.....
     
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  2. IxAccDnf

    IxAccDnf VIP Whale

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  3. zamboni

    zamboni VIP Whale

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    Isn't that the land across from Batistas Hole In The Wall?
     
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  4. HoyaHeel

    HoyaHeel Grammar Police & Admin

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    No.

    Stardust was across from Riviera.

    Lots of good websites to read. My fave is vegastodayandtomorrow.com

    Other threads here discuss construction etc so just search (upper right menu bar):thumbsup:
     
  5. bbking

    bbking Tourist

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    I'll bet the Boyd family regrets razing the Stardust.It was popular and a money maker.I only wish the stock would start climbing again.
     
  6. Nevyn

    Nevyn VIP Whale

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    Everyone always talks about what a money maker it was, but I wonder how true that really is ... can anyone quantify it?

    Boyd certainly miscalculated ... as did many others, and started a project they couldn't finish due to economic conditions.

    But I think if it was anywhere near the golden goose people here suggest, it would never have been taken down in the first place.
     
  7. stackinchips

    stackinchips High-Roller

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    I always question this too when people continually talk about what a mistake it was. Anyone have any evidence that it was a profitable casino?

    I think most posters assume that any open, operating casino makes money. I can assure you that isn't always the case.
     
  8. dmr

    dmr Registered Abuser

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    It now stands as a monument to corporate greed! :(
     
  9. zamboni

    zamboni VIP Whale

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    It did make money, although most of it went to Chicago, KC, Detroit and other mob hot spots. They perfected the skim at the Stardust
     
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  10. Nevyn

    Nevyn VIP Whale

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    Ok, so that establishes how it did until 1985 when Boyd bought it.

    It was torn down 20+ years later.
     
  11. zamboni

    zamboni VIP Whale

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    They spent $300 million on renovation in 91. If they weren't making money I doubt they would have done that. Seems it was torn down to compete with the newer places and they didn't see the economic collapse. Not many did.

    A company I used to work for was bought out and we were told we were doing great. 6 months later 145 of us were laid off. It came quick.
     
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  12. stackinchips

    stackinchips High-Roller

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    So your basis that it was profitable, is that they invested $300 million 16 YEARS BEFORE THEY TORE IT DOWN?

    You're right, if it weren't profitable, they wouldn't have put the money into it... in 1991. But that doesn't mean that it would still be profitable 16 years later.

    Again, I'm not saying it couldn't have been profitable, been I've yet to see any sort of evidence that would suggest that, other than posters assuming that an open and operating casino must make money.
     
  13. MikeOPensacola

    MikeOPensacola VIP Whale

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    My opinion on Boyd

    I think that the Boyd family was trying to keep pace with all the big players in town and in the process become a bigger player themselves. It is too bad because I really liked the Stardust. The Boyd family has done a lot of good for the city of Las Vegas, but I think it was a huge mistake to tear down the Stardust. Although, I will say that that end of the strip needed some upgrading. Thank God for the Wynn and Encore. It will be nice when that area gets some more redeveloping....
     
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  14. bbking

    bbking Tourist

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    This is what I was thinking.Boyd was thinking more along the lines of a mega resort.
     
  15. Nevyn

    Nevyn VIP Whale

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    I don't doubt it was making money in 1991. In fact, it was probably still technically making a profit in 2006.

    But between 1991 and 2006 the following hotels were built, most of them a fair walking distance from the Stardust:

    Bellagio, Treasure Island, Monte Carlo, Mandalay Bay, Luxor, New York New York, a rebuilt Aladdin (later PH), Paris, and Wynn

    And CityCenter, Encore, Cosmopolitan and Fontaineblue were all planned and underway.


    Stardust was suddenly an old hotel that was away from the highest paying gaming action. Maybe it still had a profit or maybe it didn't. But unless you knew in advance what was going to happen to the economy, I can't see faulting Boyd for trying to go for something knew. Even if Stardust made some profit up to the day it closed, it faced the prospect of continually diminishing returns.
     
  16. matguy

    matguy High-Roller

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    Lots of people could see the bursting bubble coming. Lots of people ignored the impending doom, probably hoping they could get their "stuff" done before it happened or assumed that insurance or some other bail-out would save them. Most of the people making the biggest gambles lost reletively little (on paper, maybe a lot of money, which looks good when figuring taxes, but lost future income due to poor investments when they're already doing fine doesn't make me too sad for them.)

    The Stardust theardown was classic "Newer, bigger, flashier" Vegas mentality. Not that it's a negative thing, it's just what it is. We'll all have fondness for memories. I would have liked to visit The Sands, The Dunes, Desert Inn, etc. They're gone now, if we would have kept them we wouldn't have The Venetian, The Bellagio, and the Wynn. The main differentiation here is that the site isn't getting completed any time soon (well, I would presume there are high odds that it would start from scratch if anything does happen.)

    Remember, the New Frontier and the Westward Ho were there too, but not as many people seem to care about those (well, I can understand that.)
     
  17. crussader

    crussader Low-Roller

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    Nothing wrong with "corporate greed".

    If not for that, Vegas would not exist at all. Even the most altruistic casino is "greedier" than just about any other business you deal with. What other industry takes so much money from it's customers and provides them with as little tangible benefit?
     
  18. Joe Strummer

    Joe Strummer VIP Whale

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    Wait just a minute .......
    You mean The Mob was in The Stardust ? :ssst:
     
  19. dmr

    dmr Registered Abuser

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    Tell that to Boyd! It's obvious that they know they screwed the pooch on that one!

    They had a cash cow giving them kilobucks of revenue every hour. They killed the cash cow out of greed and now all they have is a huge vacant eyesore tract that's costing them boocoo bucks just to maintain in said eyesore state!
     
  20. Nevyn

    Nevyn VIP Whale

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    Again, can you cite any evidence at all that it was and would have continued to have been a "cash cow"?
     
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