The revival of the famous Moulin Rouge casino in Las Vegas is expected to cost $.16 billion. The casino has not been in business for decades. Moulin Rouge was the first casino in Vegas to allow people from all ethnic backgrounds to roll the dice.
Las Vegas Moulin Rouge LLC (LVMR) has demonstrated an interest in purchasing the property and revive the casino to its erstwhile glory. However, the company would have to first purchase the site for $9.5 million. Following the purchase of the site, it would then prove that they have enough funds to redevelop the gambling venue.
LMVR has said that the entire development project would be carried out in three phases. The entire cost to develop is estimated at $1.6 billion in three phases of $800 million each.
A 25,000-square-foot casino, a hotel with 400 keys, a restaurant, an entertainment center, and other amenities would be developed in phase one. There is also a plan to develop a historical museum spanning 5,000 square feet to showcase the venue’s past.
The gaming floor will undergo expansion during phase two. More retail and dining outlets, as well as additional entertainment options and another hotel tower with 1,000 keys. 50,000 square feet would be added to the convention center that is expected to be built during Phase One construction.
Moulin Rouge casino first started welcoming guests in 1955. However, it was only in November 1955, the casino closed and declared bankruptcy in December that year.