What Happened to the Timeshares Stupak Sold To Finance Stratosphere?

After seeing Bob Stupak’s name in the QoD [on Super Bowl Sunday about his $1 million bet with Little Caesars], I’m wondering what was the ultimate fate of the timeshare units he sold to finance the Stratosphere? Did the buyers ultimately get exactly what they paid for, get refunds, get wiped out in the bankruptcy proceedings, etc.?

This one stumped all of our sources, including ourselves.

Of the six we consulted, three disavowed any knowledge of Stratosphere timeshares.

John L. Smith, who literally wrote the book on the maverick casino owner (No Limit), came the closest when he told us, “After Bob’s death, someone sold his Vegas Vacation customer list to a timeshare company that does business in Las Vegas.”

We called Bob’s son, Nevada Stupak, who told us point-blank, “I know nothing about that.” He added, “My mom said so as well."

We also talked to Richard Schuetz, who was brought in to stabilize operations at the Stratosphere after a disastrous opening. He recalled nothing about timeshares and, as the man at Ground Zero, says he would have had to deal with disgruntled depositors.

Jeff Burbank, who's been covering Las Vegas for the Review-Journal and Sun just about forever and is the author of several books on Las Vegas and Nevada history, does remember ... something ... vaguely. "I’m not really sure, but I think that issue was dealt by the new owners of the Stratosphere. Perhaps by buying them. That was a shaky situation, as I recall, and other transactions were misleading with that when Stupak was around."

As for Anthony Curtis and Deke Castleman, between them, neither remembers timeshares as part of Stratosphere, but Deke remembers a sales operation there for other timeshare properties when the place opened. Actually, we believe there's still a sales team there, though we doubt it's the same as it was in the mid-'90s. That might explain the muddled memories on the subject.

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RickZ Mar-04-2024

More to the story?

As I was reading the question something in the back of my mind went "oh yeah."  I remember back in the day of reading Stupak's full page ads in the Detroit newspapers and somewhere, someplace, I believe there actually was something about timeshares.

Gregory Mar-04-2024

Titanic

Mr. Stupak had plans to build a Titanic themed casino, which was to be financed via sales of timeshares.  Maybe those are the timeshares the  QOD was referring to?  https://www.travelweekly.com/Destinations2001-2007/Developer-resurrects-Titanic-on-Vegas-Strip

shadow520 Mar-04-2024

"timeshare"

I think I can shed a little light on this.  Stupak sold packages similar to the junkets he sold at Vegas World.  For a fee (might have been $2k, can't recall for sure), you got a number (10?) of Vegas packages to stay for x number of nights at the Strat plus $x of casino action (NEVER take the slot action, only the tables!).  I know this because my father bought one.  So, I am not sure about actual timshares, but perhaps it is these packages, that resembled a timeshare, is what is meant in the question.  My dad actually got to use it a couple of time before he got notice that it wouldn't be honored any longer after the Strat was sold. IIRC, there was a phase out period where I think they honored for the hotel stay, but not the casino action, then the whole thing was void afterwards.

Karen Miller Mar-04-2024

Prime Rib Dinner

We attended a prime rib dinner that included a sales pitch for time shares. We did not purchase one, so do not know what happened about that. We went to a show across the street at Sahara. We did end up purchasing one at there. Sahara changed owners and offered us a time share at Jockey Club. We did not accept that. Eventually let us out of the contract with no penalty as they did not wish to continue the program. They were happy to get rid of us.

Reno Faoro Mar-04-2024

WINNER

MAY STUPAK RIP. i was gifted a $298 package years ago . it included a  'free' spin for a $million !!!!!!!!! it ran for 13 YEARS -- YEARS - HOW MANY WINNERS were there ???????????/  u get one guess . ZERO, NODDA , ZILCH . HMM , 'THIS IS BUSINESS ' ???

Hoppy Mar-04-2024

Re:Gregory

Stupack's Titanic Casino was built. It is called Fontainebleau!

Carey Rohrig Mar-04-2024

Vegas World

Sometimes late 1980`s I bought one of their vacation packages it included a hotel stay along with free play a spin of the wheel along with a fake Rolex watch it was $400 I believe that we got our monies worth.The second gimmick they had a few years later at the start of the Start. build he offered the same kind of a deal along with a paver stone with your name on, many years later went to see my paver, found a security guard long time employee who remembered the promotion, never saw my autographed paver

Raymond Mar-05-2024

shadow520 is right

My mother bought a package similar to what shadow520 described--a bunch of stays plus some casino coupons.  She used several, but not all, before they were summarily voided.  She says she got her money's worth but no bargain overall.

steve crouse Mar-05-2024

stuppy

I used to read a blog done bysome young gentlemen from Cali that chronicled some alcohol fueled epic Vegas trips. They use to buy into these junket that Stupak advertised in the LA Times. Somehow, they figured out how to make the junket pay for itself by betting their coupons at the craps table. I have no idea how to play craps, so I'm not up on how they did it.
They used to call him Stuppy Stupak

MinM Mar-07-2024

Got my money's worth

I had 3 of my 7 packages left when Vegas World went bankrupt. I was able to use my last 3 packages after the new owner Stratosphere opened. I saw my name on the plaque at the base of the tower briefly before it was removed. (Where did that end up?) I got my money's worth but I always felt they should have honored the "lifetime rides up the tower" part of the package which they did not.

Question of the Day - 04 March 2024

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