10/2011 Fitzgeralds is the latest in a string of downtown properties to undergo a transformation

Search

Member
Joined
Sep 21, 2004
Messages
34,770
Tokens
http://www.lvrj.com/business/fitzgerald-s-new-owners-plan-makeover-new-name-132843123.html
The new owners of Fitzgeralds are giving the downtown property a makeover and a new name.

Golden Gate casino owners Derek and Greg Stevens on Wednesday assumed control of the property after purchasing it from the estate of former owner Don Barden, who died in May.

The brothers have big plans for the Fremont Street casino, including rebranding it. Derek Stevens said Barden had licensed the Fitzgeralds name, which was not included in the sale of the property. Terms of the sale were not disclosed.

Fitzgeralds will keep its name for another six months or so, which gives the brothers time to brainstorm ideas.

Stevens said the property will also undergo a $15 million renovation, which will take about a year to complete. The hotel's 640 rooms will be remodeled, two bars added -- including one outside the casino on Fremont Street -- and the two-story casino floor will be renovated, with each floor given a theme.

The second story will have a vintage Vegas vibe, with old-fashioned and coin-operated slot machines included.

The main floor of the casino will be "a little bit more Lady Gaga, Katy Perry, with some Black Eyed Peas" mixed in, Stevens said.

Stevens expects to increase the casino's 700-strong workforce by 15 percent to 20 percent over the next year to accommodate the new bars and slot machine additions.

The renovation is the first big change at Fitzgeralds in years.

The property opened as the Sundance in 1979. Stardust and Fremont casino owner Allan Sachs and mobster Moe Dalitz, who founded the property, then sold it to Reno-based Lincoln Management Group in 1987. The Sundance became Fitzgeralds.

Don Barden's Barden Nevada Gaming LLC purchased the property in 2001. Barden, the first African-American man to own a casino in Las Vegas, held onto the casino until he died.

Fitzgeralds is the latest in a string of downtown properties to undergo a transformation. The casino's sister property, the Golden Gate, begins its $12 million expansion project next week. The first phase of the project, which includes the addition of hotel suites and new restrooms, will be completed in March. The renovation of the deli and build-out of the high-limit pit will be done in May.

The El Cortez, Golden Nugget, Plaza and Gold Spike have also remodeled their properties in recent years.

Investors' active interest in reviving downtown is part of the reason Stevens pursued Fitzgeralds.

"I'm pretty gung ho about downtown Las Vegas and Fremont Street," Stevens said. "I think in a lot of ways the economy is starting to turn. There's an awful lot of energy in the downtown space."

Fitzgeralds and the Golden Gate will share more than the same owners. Stevens expects the casinos to share a players club card and player database, as well as purchasing and inventory departments, which will be based at Fitzgeralds.

Contact reporter Caitlin McGarry at cmcgarry@lvbusinesspress.com or 702-387-5273.
 

Forum statistics

Threads
1,106,780
Messages
13,438,951
Members
99,339
Latest member
billcunninghamhomeloans
The RX is the sports betting industry's leading information portal for bonuses, picks, and sportsbook reviews. Find the best deals offered by a sportsbook in your state and browse our free picks section.FacebookTwitterInstagramContact Usforum@therx.com