Post #580585 by JOHN-O on Wed, Mar 16, 2011 10:00 PM

OK, let's clarify one point here. There are no plans to blow up the Sahara. It was closed because it was losing more money than it was taking in. This situation is not unique in Las Vegas. Both Binion's and the Plaza in Downtown have shut down their hotel operations for the same reason. Also on the North Strip, where the Sahara is located, both the in-progress Echelon Place and the Fontainebleau have stalled further construction. These places are victims of the depressed Las Vegas economy.

When he acquired the Sahara back in 2007, it was Nazarian's intent to renovate (not blow up) the Sahara...

http://www.casinocitytimes.com/news/article/sahara-buyer-sees-new-life-for-old-resort-164550?contentID=164550

Hopefully this is a temporary situation and the Sahara will reopen when both the Las Vegas economy recovers and additional financing is secured.

Tom Slick, you have to give Nazarain some credit here. He went against the Las Vegas tide of "blow up and rebuild". As I stated earlier, mid-century landmarks like the Stardust, Desert Inn, Sands, Dunes, etc were all destroyed not by first-generation immigrants, but by people who had decades long relationships with Las Vegas. I'm talking about Steve Wynn, Sheldon Adelson, and the Boyd family. Where was the appreciation for Las Vegas's culture and history by these native born sons ?? It took an immigrant to attempt a different approach.

On 2011-03-16 14:29, Tom Slick wrote:
Show me a 1st generation developer(not born in USA) who has preserved something historical, Historic-worthy, or an American Icon and I'll stand corrected(Even if that is not the majority represented).

Ok, here's an example in my own backyard of Santa Monica. There's a 1939 art deco hotel on Ocean Ave, the Shangri-La Hotel...

For decades it remained a historic diamond in the rough, when in 1983 it was purchased by Ahmed Adaya, a Muslim real estate tycoon who immigrated to the US from Pakistan in the 1970's. Did he tear the place down to take advantage of its prime ocean facing real estate? No, he continued to run place as it always had been. And if you want to argue that he couldn't tear the place down due to protected historic status, my research shows no indication of this. Yes, they advertise themselves as a "historic landmark" but there are many different classifications for this.

His daughter Tehmina, who now runs the family trust (and who is also an immigrant), recently invested $30 million (!!) to renovate the property. For her efforts, she was a recipient of 2009 Preservation Award from the Santa Monica Conservancy.

http://www.hotel-online.com/News/PR2009_1st/Mar09_ShangriLaRedo.html

Well ??... :)

On 2011-03-16 14:29, Tom Slick wrote:
I also do not believe any part of what I've stated about Mr. Nazarian is false. If it is, please feel free to correct me...

There is a heavy influx of first generation Middle Eastern Construction/Development corporations buying up and tearing down(or plan to tear down) potentially iconic landmarks or places of interest. This is pretty much irrefutable based on actions either already taken, or planned in the future, such as the Sahara...

Actually, I think you may have pegged Nazarian wrong as well as his intentions, he was only 4 or 5 years old (!!) when he immigrated with his family from Iran. Just because someone has a foreign-sounding name, doesn't make them a "foreigner". If this is the logic you're using to justify your assumptions then I think you need to rethink things.

[ Edited by: JOHN-O 2011-03-17 08:39 ]