Has Casino Royale Sold Out to the Ritz-Carlton?

An Uber driver told me Casino Royale is closing and being turned into a Ritz Carlton. I googled it and found that the rumor is also circulating online through Las Vegas Facebook groups. What do you know about it?

We tracked down the rumor and traced it back to a tweet from the VitalVegas.com blog:

"Untested source adamant Casino Royale will be demolished and replaced by a Ritz-Carlton. Given small footprint, project would involve deep underground parking garage. One to watch!"

That's about all we can say definitively about it. It's a rumor, no official announcement has been made, and the always-entertaining and well-informed Scott Roeben of VitalVegas suggests we all keep an eye out for this change to take place.

We actually heard this rumor a little after we penned our QoD on the Elardis, who own Casino Royale. Here're the last couple paragraphs of that:

"The Forbes profile of Margaret [Elardi] concluded, "Though she refuses to talk with Forbes — or anyone else from the media — she did recently tell an acquaintance: 'Die with your boots on. Don't ever sell out.'

"Of course, for the right price, it's not hard to imagine them taking the money and going on to bigger and better things."

Our thoughts on the rumor are mixed. We certainly see how it could get started, whether or not it's true. Casino Royale sits on a prime piece of real estate, with thousands of people passing by day and night. No doubt any number of developers would pay dearly to get their hands on the property; not much else at center Strip hasn't been redeveloped. The lot, we believe, is worth much more than the 30,000-square-foot casino, 150-room motel, parking lot, and garage. And we've heard it said that Casino Royale is an anomaly and doesn't belong on the Strip, so being replaced by a Ritz makes some sense.

On the other hand, it's a pretty small piece of a much bigger puzzle. We also wonder, why wouldn't Ritz-Carlton or any other upscale suitor take over the unfinished St. Regis site at the Venetian? That would be a much better fit, in our opinion. After all, what would the Ritz do with the existing White Castle, Denny's, Subway, even Ben & Jerry's and Outback Steakhouse?

We also have a soft spot in our heart for Casino Royale. It's the last place on the Strip with the feel of a downtown casino — low table minimums, good gambling promotions, cheap beer, foot-long hot dogs, etc.

So we wouldn't be surprised either way, but it'd be a shame if the Elardis did, finally, sell out to a fancy joint. As Scott suggests, we'll keep an eye on it.

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Dave Oct-08-2018

White Castle / Denny’s ...

White Castle and Denny’s recently dumped a ton of money building & renovating their spaces. There’s no way that would happen without a long term lease. 

So if the Ritz buys, they’re getting those (and the others?) in the package. 

Considering that, I doubt that this rumor holds up.

Sandra Ritter Oct-08-2018

Ritz Carlton

I would think if they came to the strip they'd want to be next to classier casinos.  Harrahs to their south?  I know they have to go where the land is but Harrahs to their south? Just saying....

Sheryl Johnson Oct-08-2018

Casino Royale

I sure hope not!!  I love that place, it is the old school feel, we go there every time we are in Vegas, love the food court.  We stayed there once and while the rooms are small, they are clean, quiet and comfortable.  I must admit though they are not as reasonable as they used to be.

O2bnVegas Oct-08-2018

Foot traffic

Location, location, location.

Casino Royale is perfect for...something...due to the foot traffic, if nothing else.  I won't be surprised if the count is in the thousands of humans who pass by CR's entrance daily.  Personally, I consider the presence of White Castle, Subway, Ben & Jerry's, and Outback a real plus.  Once you've spent hundreds on just OK celebrity name dinners, you wish you'd just had a Subway instead.

Deke Castleman Oct-09-2018

This in via email

"I recall Margaret Elardi owned many acres of LV Blvd property from the 1970s until the early 2000s. Beside the obvious Frontier and Casino Royale, she (and/or her family) owned quite a bit of land surrounding the Jockey Club. I recall they might have been involved with the development of the Jockey Club, and that is how the surrounding properties were able to build a few feet away from the Jockey Club windows."

Question of the Day - 08 October 2018

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