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Question of the Day - 30 December 2005

Q:
Is it true that they are going to tear down the Stardust hotel and casino?
A:

Maybe. Maybe not.

Early this year, Boyd Gaming bought 13 acres behind the Stardust, currently occupied by Las Vegas' original Budget Suites, for $43 million. Boyd now controls 63 acres on and around the Stardust. This happens to be the exact acreage that MGM Mirage is building out for its monumental CityCenter project, which suggests to some analysts that Boyd may be in the process of developing its own metaresort.

While announcing the Budget Suites purchase, Boyd indicated that it would reveal its plans for the Stardust shortly after Wynn Las Vegas opened in late April 2005.

That didn't happen. At the time, Boyd executives postponed announcing its plans, saying that it was still too early to try and determine what Las Vegas might look like in the decade or so it would probably take to redevelop that much Strip property.

But a couple of months later, in June, Boyd announced that it would complete the design of the redevelopment of the Stardust by the end of this year. So far, rumor has it that the Stardust and the wrecking ball or an implosion team will meet, briefly, sometime in 2006.

Update 04 January 2006
As predicted in the January LVA, the Stardust has announced plans for a complete redevelopment. Boyd Gaming says that it will create a $4 billion 5,300-room resort called Echelon Place. The "mixed-use" resort will be similar to MGM-Mirage's Project CityCenter in concept — another metaresort. The Stardust is expected to operate though the end of 2006, then be demolished in early 2007. Echelon Place is scheduled to be completed in 2010.
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