Downtown Grand

Downtown Grand Las Vegas
Location Las Vegas, Nevada
Address 206 N 3rd Street
Opening date 1964
No. of rooms 629
Total gaming space 53,730 sq ft (4,992 m2)
Notable restaurants Freedom Beat
Triple George Grill
Sidebar
Hogs and Heifers Saloon
Casino type Land-based
Owner CIM Group
Operating license holder Fifth Street Gaming
Previous names Lady Luck
Renovated in 2006-13
Website downtowngrand.com

The Downtown Grand Las Vegas, formerly the Lady Luck Hotel & Casino, is a hotel and casino in Downtown Las Vegas, Nevada, owned by the CIM Group and operated by Fifth Street Gaming. The Downtown Grand is the centerpiece of Downtown3rd, a new neighborhood and entertainment district under development in downtown Las Vegas.

Facility

Set on 6.27 acres (2.54 ha) at 3rd Street and East Ogden Avenue, the Downtown Grand has two hotel towers: to the east, the 18-story Casino Tower built in 1985 with 295 rooms, and to the west, the 25-story Grand Tower with 334 rooms. The East Tower is connected to the ground level casino. The property is served by a four-level parking garage and features several restaurants and entertainment venues along 3rd Street. These popular establishments include Freedom Beat, Triple George Grill, Sidebar, and Hogs and Heifers Saloon.

History

Lady Luck (1964-2006)

  • In 2000 the Lady Luck was acquired by Isle of Capri.[1]
  • On June, 2002 it was purchased by Steadfast AMX who turned two floors into timeshares.
  • On May 13, 2005 it was purchased by the Henry Brent Company for $24 million.[2]
  • On May 16, 2005 plans were announced for a major renovation and expansion of the property to begin early in 2006.

Closing and renovations (2006-13)

On February 11, 2006 the hotel and casino, but not the timeshares, closed for remodeling; the property was expected to be closed for nine to twelve months but financing collapsed.

  • On June 12, 2007 the casino was purchased by the CIM Group for over $100 million.[3] CIM Group is a transformational urban real estate and infrastructure investment firm founded in 1994 with over $11.9 billion in assets under management.[4] Construction of Downtown3rd on the former site of the Lady Luck began in the fall of 2011, the new Downtown Grand Hotel and Casino is scheduled to open in late 2013,[5] and the remainder of Downtown3rd is expected to be completed in late 2014.[6]
Workers tearing down portions of the casino for renovation in October 2012.

In July 2008 the city was investigating rezoning the nearby land containing the transit center to unrestricted gaming.[7] When the transit center is relocated, the land would be available for development. Mayor Oscar Goodman applauded the attempt to re-invigorate the plans to renovate the Lady Luck. "For the past several years I have seen a rotting corpse," Goodman said of the property's condition. "The Lady Luck structure has been a blight."

As of July 2009, Las Vegas mayor Oscar Goodman once again said in a council meeting that "The Lady Luck is a disaster," and then called the skeletal structure a "carcass".

Las Vegas city leaders want Lady Luck developers CIM Group to raze the unfinished structure at Fourth Street and Stewart Avenue and do a better job of keeping sidewalks and landscaping clean near the site. CIM has until late December 2009 to start a $100 million renovation of the Lady Luck or the company could lose out on the city's offer to hand over land around the proposed nearby Mob Museum.[8]

On July 23, 2009, some demolition work started on a 4-story concrete building adjacent to the main resort. This work was completed in accordance with the city's request for CIM Group to raze the condemned structure.[9]

On March 15, 2010, CIM Group made an agreement with City Officials to have the renovations completed by December 31, 2011. There is the potential that the hotel/casino will reopen in 2012, 5 years after its originally scheduled reopening in 2007.[10]

In October 2011, plans were announced to rename the Lady Luck to the Downtown Grand.

Downtown Grand (2013-present)

The new Downtown Grand opened on October 27, 2013.[11] It is a boutique hotel and casino with 25,000 square feet of casino space, 629 newly remodeled hotel rooms, 9 bars & restaurants and a 35,000 square foot urban rooftop pool retreat called Citrus.[12]

References

  1. ↑ UNLV. "Isle of Capri acquires Lady Luck in downtown Las Vegas". Retrieved Dec 10, 2008.
  2. ↑ UNLV (September 9, 2005). "CEO's NFL Ties Would Affect Wagers". Retrieved Dec 10, 2008.
  3. ↑ Las Vegas Sun (July 2, 2008). "City mulls downtown land sale at cut rate".
  4. ↑ "CIM Group".
  5. ↑ downtown_vegas.com (April 23, 2012). "Downtown Grand Hotel & Casino to open late 2013".
  6. ↑ LVRJ (May 20, 2013). "Las Vegas' Downtown Grand to hire 800".
  7. ↑ LVRJ (July 3, 2008). "Land-value raise may lift Lady Luck".
  8. ↑ "Mayor calls Lady Luck casino 'carcass'".
  9. ↑ Demolition begins at downtown's Lady Luck
  10. ↑
  11. ↑ Chris Sieroty (October 27, 2013). "Downtown Las Vegas' newest resort opens". Las Vegas Review-Journal. Retrieved 2013-10-28.
  12. ↑ http://www.cimgroup.com/investments/byGeographyInvestmentDetails.aspx?id=24%5Bpermanent+dead+link%5D

Coordinates: 36°10′19″N 115°08′30″W / 36.1719°N 115.1418°W / 36.1719; -115.1418

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