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Derek Stevens Land Buy Opens Up Possibilities for Downtown Vegas

Discussion in 'Downtown Hotels' started by Blonde_4_ever, Jun 19, 2017.

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  1. Blonde_4_ever

    Blonde_4_ever LasVegas4ever.com

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  2. LoveDowntownVegas

    LoveDowntownVegas High-Roller

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    great read, thanks for sharing!
     
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  3. eaglejohn

    eaglejohn VIP Whale

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    Is this the reason Derek is keeping the Mermaid casino license alive with the
    LVC?
     
  4. makikiboy

    makikiboy VIP Whale

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    There is a sign on the land, stating that it is zoned for future casino development. Personally I think Derek is buying the land for future (20 years from now) investment but you never know. with the new LVC not sure if he will have the capital to develop more in the near future. We will have to see what happens with the new LVC.



    Possibly but he is keeping the license alive so he can sell it or use it. It is easier to be grandfathered in with an old casino license than to try to apply for a new casino license. For new casinos there are lots of new rules to get a license but if you are grandfathered in with an old license you don't have as many hoops to jump through.
     
  5. eaglejohn

    eaglejohn VIP Whale

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    yeh. I am sure he has a plan for that license. Surprised he didn't keep alive LaBayou. just to keep it alive also
     
  6. Ghandi

    Ghandi Tourist

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    Really curious what's going to happen with all his new spots. A bridge connecting everything would be dope, I love the three linked casinos in Reno and not having to go outside.
     
  7. smartone

    smartone VIP Whale

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    Good to hear! Wasn't that long ago, many wouldn't touch downtown.
     
  8. Vegas Insight

    Vegas Insight King of no media

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    A casino group buying more land is interesting, but given how far off development of this parcel likely would be, if ever, there have to be thousands of possible outcomes.

    Too early to get excited about, unfortunately. The wheels of development turn too slowly to hold my attention.

    Buying land near downtown, seems like a wise investment right now.
     
  9. harley777

    harley777 Low-Roller

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    This just keeps getting interesting. I am all for having new development as long as they keep better odds downtown...
     
  10. patlives

    patlives Tourist

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    How awesome would it be to have a bridge going each way coming off the new parking structure to two different casinos?!
     
  11. leo21

    leo21 VIP Whale

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    I believe that particular license is the type that allows you to operate a casino with no hotel. It's worth keeping active for no other reason than the fact you can't get them anymore. Is it possible that Mermaids and La Bayou were operating under one license?
     
  12. ruralhipster

    ruralhipster High-Roller

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    I would guess the reason that there is no pop up gaming trailer for laBayou is they plan on expanding the Golden Gate gaming quickly into the space and therefore will have gaming going in time to retain the licence.
     
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  13. woodsie

    woodsie VIP Whale

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    I can't see that property being anything other than a layoff area for the 18 Fremont Property and then a pure land investment after that for the foreseeable future. I just don't see how the Steven's brothers could possibly manage the financial burden of yet another project on that piece of property in the short term.

    It is of course exciting to think about what could be in the future. I supposed the construction of the parking structure on the lot between Plaza and MSS will give a lot of clues as to what is in store for this new lot. It'll either be designed to potentially connect to that lot in the future or it won't be.
     
  14. nhanna45

    nhanna45 Low-Roller

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    I think that this new strip of land will just be more room for the new resort, not a second property. It could be a shopping center, pool or some other money maker attached with a bridge over the parking structure. We could have a strip sized property downtown and would extend the downtown area quite a bit!
     
  15. shokhead

    shokhead No big spender unless eating drinking having fun!

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    The Nugget!
  16. keno60

    keno60 VIP Whale

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    Good read!
     
  17. C0usineddie

    C0usineddie VIP Whale

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    i trust derek
     
  18. woodsie

    woodsie VIP Whale

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    He stopped a CVS/Walgreens from going in where Las Vegas Club stands, he's quite frankly the Patron Saint of Fremont St. at this point on that act alone.

    No matter what people come up with to bitch about regarding his projects, he held the line against turning Fremont St. into just another tourist trap retail strip mall disaster and he's building Fremont's first new from the bottom up Casino property in almost 4 decades.
     
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  19. djen

    djen Low-Roller

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    I like what Derek has done with his properties. He thinks outside the box a bit and seems to know the downtown customer quite well

    That said I have not a clue to what he would have planned. Agree with the comment about an investment for 20 years down the road.

    I would like to see another quality casino downtown. Yet from what I have noticed it is difficult to get the average guest downtown o go beyond the canopy. El Cortez does alright, DTG is starting to come around and Plaza still struggles. None have the crowd of those under the canopy

    A casino a couple of Bridges and a parking ramp away may be tough to get guests to patronize. That is unless it is something special.
     
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  20. FullBoat

    FullBoat VIP Whale

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    Well, one entrance will still be under the canopy, the parking will be across the street with another entrance on the bridge... think MSS. They have the bridge, and an entrance on the street.

    I just wish he would take his company public. I wouldn't mind buying some stock. :) I'm waiting for the drawings to be released on what it's going to look like. Maybe by the end of the year.
     
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