Just wonderd, how long the silver City casino has been in existance and what it was (if anything) before that time. Also, any idea or rumor on what is going to move into the site?
------------------ Lee-PA Moderator, What's New Forum lee@talkvegas.com
Lee, I found some information on the Silver City in an article in the Sun announcing it's October 31 closing. It states that the space was leased 20 years ago and the casino opened in 1981. It said that most of the 150 employees will be given jobs in other Mandalay Resorts casinos by the time they close. The article didn't say anything about what was planned for the site in the future.
Lee Ann Past, Present and Future Forum Moderator leeann@talkvegas.com
Thanks LeeAnn! I was just wondering if they where going to bulldoze the place or what? I also have a hard time beleiving those employees will be moving to the better properties. When I was in there a few weeks ago, they all looked pretty rough. But then, so did most of the customers! LOL
------------------ Lee-PA Moderator, What's New Forum lee@talkvegas.com
I just read an article in the RJ stating that the Silver City is being purchased by a 32 year old real estate developer from San Francisco for $30 million. Luke Brugnara is applying for a gaming license and hopes to have it approved soon. He said that he plans to spend tens of millions of dollars upgrading the casino and adjacent shopping center. One of his possible plans for the casino renovation is a San Francisco theme.
Just to add to Lee Ann, the new owner doesn't have a gaming license yet. He also doesn't want to hire an intrem casino managing compan as they tend to want 5-10 yr. contracts. Therfore Silver City will be closed until he can obtain his licnese. The planning and developement phase can take from 2 to 5 yrs. so it will be awhile before we see much change. While I like Silver City, I hope he can build his new hig rise hotel. The North end of the strip could use new life. His tenative plans are for a 2000 room resort with a San Fransico theme. As this is close to the convention center, he should not have trouble filling the rooms. That is one of the things that has kept the Riv. alive & well.
Doug, Yes, that is what that end of the srtip needs, something new. All the new mega resorts are all at the other end of the strip. Also, some more people down in that area, might improve my perseived view that it's not the best place to be walking alone at night in.
------------------ Lee-PA Moderator, What's New Forum lee@talkvegas.com
The new owner of the Silver City Casino intends to spend "millions" to upgrade the property and predicts reopening the casino next summer (!)
Luke Brugnara said he paid between $30 million and $40 million to purchase Silver City and expects to dump 10's of millions of dollars into renovating the property. He states that he has several leases pending "with upscale businesses and tenants will all be 4-star companies". Brugnara added he hopes to develop the 8-acre property into a fully-operational hotel/ casino within the next five years, as doug previously noted.
Brugnara said that despite his purchase of the property, it will close as scheduled at the end of this month. Brugnara said he can't gain a Nevada gaming license in time to prevent closure of the property.
Brugnara also is currently looking at 2 other LV properties that he expects to purchase. Another game of wait-and-see here: this is the same guy who made an unsuccessful bid to buy the Desert Inn.
[This message has been edited by Veronica (edited October 28, 1999).]
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