Sahara hotel-casino in Las Vegas closing in May - Beyond Tiki

J JOHN-O Tiki Socialite Dogtown, USA Joined: May 16, 2008 Posts: 2721	J JOHN-O Posted posted on Thu, Mar 17, 2011 5:01 PM I don't think we'll see any more implosions on the Strip in the near future. After the recent financial struggles of CityCenter and the still uncompleted Echelon Place and Fontainebleau, developers are going to be gun shy to develop from scratch. It makes more financial sense these days to take an existing property and renovate it. That was Nazarian's (now stalled) plan. It's also what Alex Yemenidjian (there's another immigrant for you, Tom Slick !! :)) is doing with the Tropicana Hotel. He's sinking in $165 million to update the place in a South Beach style. I visited there last month and the place was looking good. I think the reason why the Tropicana has been more successful is the better location on the Strip. The Sahara is really out there in the boondocks. :(

I don't think we'll see any more implosions on the Strip in the near future. After the recent financial struggles of CityCenter and the still uncompleted Echelon Place and Fontainebleau, developers are going to be gun shy to develop from scratch.

It makes more financial sense these days to take an existing property and renovate it. That was Nazarian's (now stalled) plan. It's also what Alex Yemenidjian (there's another immigrant for you, Tom Slick !! :)) is doing with the Tropicana Hotel. He's sinking in $165 million to update the place in a South Beach style. I visited there last month and the place was looking good. I think the reason why the Tropicana has been more successful is the better location on the Strip. The Sahara is really out there in the boondocks. :(

Post #580680 by JOHN-O on Thu, Mar 17, 2011 5:01 PM