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A group hoping to revive the long-faded glories of the Moulin Rouge<\/b> hasn’t found construction financing<\/a>. But no matter: They’ve signed<\/a> a casino-management team; Epic Gaming<\/b>, a company whose only other ongoing concern is a tribal casino in Oklahoma, with 550 slots. This is not a choice of operator that leaves one brimming with confidence.<\/p>\n Epic used to go by the handle of Ellis Gaming<\/a>. Although founder Shawn Ellis<\/b> is long gone, his team of heavy hitters<\/a> is still in place. With the likes of former Caesars exec John Groom<\/b> on board, theoretically Epic has the sort of braintrust that could reimagine the Moulin Rouge as someplace hip and sexy … although its Bonanza Road neighborhood is anything but. Even someone who works there keeps drawing attention to its “vacant and burned buildings, repair shops, a United Parcel Service distribution center and a homeless shelter.”<\/p>\n Epic recently pursued one of the casino licenses up for grabs in Kansas<\/b> but its application was unceremoniously swatted away<\/a>. As for the developers, they expect that a hoped-for rezoning (skedded for April 2) will lure construction money out of the woodwork. Under the newly unveiled arrangement, Epic will get to keep all the gambling revenue — unless or until Moulin Rouge Development Corp.<\/b> or Republic Urban Properties<\/b> obtains a gaming license.<\/p>\n It’s a business model that’s quickly becoming, if not prevalent, very popular along the Strip (as at the Sahara<\/b>) … although you’d have to have an MGM Mirage-like revenue stream (60% non-gaming) to make it pencil out, and Harrah’s Entertainment <\/b>just reported softness in precisely that segment of its Vegas business.<\/p>\n","protected":false},"excerpt":{"rendered":" A group hoping to revive the long-faded glories of the Moulin Rouge hasn’t found construction financing. But no matter: They’ve signed a casino-management team; Epic Gaming, a company whose only other ongoing concern is a tribal casino in Oklahoma, with … Continue reading