Moulin Rouge Las Vegas Renovation Will Cost $1.6 Billion
The legendary casino located in Las Vegas called Moulin Rouge has been collecting dust for a couple of decades. Moulin Rouge has been praised as the first venue of its kind to allow people of all colors and ethnicities to enter and enjoy the activities offered inside.
However, despite the success, the gambling house was eventually closed and long forgotten. For the last couple of years, the only part of the venue that has been actively used was the parking space that hosted bi-annual mobile gaming facilities. This was done on purpose so that the venue could retain its permanent gaming license.
However, plans to revive the venue surfaced recently, and several companies showed interest in revitalizing the legendary gambling house. All of them showed their plans and ideas, but one of them stands out as it offers a quick renovation procedure that could be completed in a short time period and could cost approximately $1.6 billion.
In fact, Las Vegas Moulin Rouge LLC has a wish to buy the property and become an inseparable part of Vegas one more time. However, in order to buy their way back into the landscape, they will have to pay a total of $9.5 million just to get the site. After they place the money in escrow, the company will then have to prove that they have enough money to cover all the costs as it is announced in their $1.6 billion project.
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According to the company, the project will be a big one, and it will consist of three major phases that all aim to revitalize the old Moulin Rouge Casino. The first and the second phase would cost $800 million, and the third would also cost as much.
In the first phase, the casino with 25,000 square feet will be built, in addition to a 400-room hotel, a restaurant, an entertainment center, and other similar amenities. The first phase would also cover a historical museum which will give visitors an opportunity to learn more about the glorious past of the venue.
The second phase of the renovation process includes making the gaming floor even bigger. Furthermore, more dining venues and retail stores are planned, in addition to another hotel with 1,000 keys. Finally, the second phase includes the construction of a convention center that will sit on 50,000 square feet.
Phase three is reserved for a brand new mixed-use residential space, which will be the culmination of the entire project. It means that the facility would get more retail space, as well as various offices for business and an arena with a total of 12,000 seats.
However, there is a small problem with the third phase — it exceeds the land which is included as a part of the Moulin Rouge venue. In other words, additional space surrounding the area would have to be acquired in order to fully realize the entire plan, which is crowned with the third phase. Therefore, there is no guarantee that the company leading this project would manage to acquire additional land. so the third phase of the project may not be as described.
Visitors and residents of Las Vegas are definitely going to love the fact that one of the legendary gambling houses is coming back to life. Many casino lovers hope that it will be designed in such a manner so as to retain parts of the vintage look that was popular back during the glory days of the casino.
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