Resorts World development went down historic Stardust path
The long, twisting saga of the redevelopment of 88 north Strip acres is reaching an end.
When the clock strikes 11 p.m. Thursday, Resorts World Las Vegas will start a new chapter when it opens its doors on land once home to the storied Stardust and its famed Lido de Paris show featuring topless showgirls. Entertainers Wayne Newton, Don Rickles, Tim Conway, Harvey Korman, Siegfried & Roy and Steve & Eydie are just some of many stars who performed in Stardust showrooms.
The Stardust opened with just over 1,000 hotel rooms in 1958 — at the time the world’s largest hotel.
Anthony Cornero Stralla, a Southern California bootlegger who never received a casino license from Nevada regulators, got the Stardust going by selling shares in the company in the 1950s.
Over the years, the Stardust had several owners with Boyd Gaming Corp. being its last one, taking possession in 1985. Under Boyd’s stewardship, the hotel grew to 1,500 rooms.
Thinking big
But Boyd had bigger plans for what then was considered a prime Strip location.
It planned a massive $4.8 billion complex, a match to the south Strip CityCenter project then being built by what is now MGM Resorts International.
Boyd called the project Echelon Place, later shortened to just Echelon.
Boyd’s original concept for Echelon was five hotels of varying sizes totaling 5,000 rooms and suites, all connected to a 140,000-square-foot casino. The project included 300,000 square feet of retail, 750,000 square feet of convention and meeting space, 30 restaurants and two theaters.
While most of the Echelon site was once home to the Stardust, Boyd had purchased several adjacent parcels to increase the acreage. The largest acquisition was 27 acres from Harrah’s Entertainment, a predecessor to Caesars Entertainment Corp., in exchange for what was then the Barbary Coast in October 2006. That property is still under Caesars’ control and is now known as The Cromwell.
The Stardust closed in November 2006 and was imploded four months later to make way for Echelon, which had a formal groundbreaking in June 2007.
Echelon’s downfall
That’s when the economic roof collapsed.
Boyd stopped the project’s construction 14 months later in August 2008 when credit markets soured.
Boyd Gaming executives were celebrated by local political leaders and Wall Street analysts for making the gutsy move to halt development after spending close to $1.5 billion on construction. Several gaming analysts said if Boyd Gaming hadn’t stopped Echelon, the company would have fallen into bankruptcy.
Boyd planned to restart Echelon within a year, but the economy was slow to rebound.
Clark County commissioners gave Boyd Gaming a six-year extension to complete the development by 2018. Commissioners also demanded the company “beautify” the site by hiding unfinished structures with more than $4 million in landscaping and strategically placed coverings.
“The company did a great thing when we created the project,” Boyd Gaming Executive Vice President Bob Boughner said at the time. “The company did the right thing when we suspended the project.”
Genting steps in
It wasn’t until March 2013 that the Malaysia-based Genting Group rode in with a rescue plan.
Genting announced that it would acquire the 88-acre Stardust site for $350 million and presented its own $2 billion resort plan. At the time, Resorts World Las Vegas, as it was to be known, was expected to open in 2016 with multiple restaurants and dining options, along with 250,000 square feet of retail, more than 500,000 square feet of convention space, a theater and outdoor pool amenities.
“This is a great day for Genting, Las Vegas and the state of Nevada, and we look forward to taking full advantage of this exciting new opportunity,” Genting Chairman K.T. Lim said in a statement at the time. “This is an unparalleled opportunity to showcase what has made the Resorts World brand a globally recognized success for the past several decades.”
Shortly after the announcement, Lim met with then-Gov. Brian Sandoval, who applauded Genting’s initial move into Nevada.
Analysts consider Genting one of the world’s top hotel-casino operators.
“The Genting Group and Resorts World Las Vegas will bring several thousand new jobs to our state and will help us in keeping our economic resurgence on the right path toward success,” Sandoval said.
A spokesman said Genting would incorporate much of the remnants of the Echelon project into the Resorts World Las Vegas development, including the unfinished concrete and steel hotel structures and a parking garage.
While development plans changed course, Lim kept a steady watch on the project, eventually hiring MGM Resorts International executive Scott Sibella as the top local executive.
The project went from an Asian-themed project with a replica of the Great Wall of China and a panda enclosure to a technology-heavy Asian-influenced design along with a partnership with Hilton to bring loyal Hilton Honors customers to the resort. One thing that isn’t changing will be the emphasis on entertainment.
“I think K.T. Lim said it best at the start of this project that Las Vegas will always be Las Vegas and no one will ever take its entertainment position away,” project architect Paul Steelman said in a recent interview. “We are all very lucky to have K.T. Lim, his family and Genting as a part of the Las Vegas experience.”
Homage to Stardust
With the resort near opening, Sibella said Resorts World will have tributes to the Stardust on the site.
While Boyd Gaming failed at the site, the company is cheering for Genting and Resorts World.
“The opening of the Strip’s first new resort in more than a decade is an exciting moment for our entire community,” Boyd spokesman David Strow said. “It seems especially appropriate to welcome Resorts World now, as Las Vegas continues to emerge from the pandemic and visitation rebounds across Southern Nevada. Resorts World is yet another example of how the Las Vegas resort community continues to successfully meet every challenge and finds new ways to attract visitors to Southern Nevada.”
Strow said Boyd continues to have a special connection with the property because it once operated the Stardust there.
“Throughout its 48 years in operation, the Stardust played an important role in the evolution and growth of the Las Vegas Strip, and our ownership of the Stardust was one of the foundational chapters in Boyd Gaming’s history,” Strow said. “We are excited to see Resorts World begin the latest chapter in this site’s history, and are confident they will enjoy great success.”
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.