Wynn’s Las Vegas deal includes slice of land with rich history

With the economy weakening in spring 2008, Donald Trump held a ribbon-cutting for his condo-hotel tower near the Strip, the gold-gilded Trump International.

Before the ceremony, the future president said a second, identical high-rise would break ground when financial markets recovered and all sales had closed in the first tower.

But the economy only worsened, the second tower was never built, and another billionaire is set to take charge of the site.

Casino developer Steve Wynn’s namesake company announced last month that it reached a deal to acquire about 38 acres of land across Las Vegas Boulevard from the Wynn Las Vegas for $336 million. The sale is expected to close this quarter.

Wynn Resorts said it’s buying the spread for “future development” but did not elaborate.

RIGHT-CLICK TO ENLARGE

The bulk of its acquisition, at 34.6 acres, most recently was earmarked for Alon Las Vegas, a hotel-casino that never left the drawing board. But it’s also getting 3.6 acres from TI owner Phil Ruffin, Trump’s friend and partner on Trump International.

Ruffin’s site is next to the tower and was supposed to have the second, Clark County records show.

Wynn Resorts spokesman Michael Weaver said that Ruffin’s property “will be incorporated into the new overall development, which will be created by Mr. Wynn and his team.”

TI’s senior vice president of communications, Michelle Knoll, said in a statement that the second tower “never got beyond the planning stage. The market simply didn’t support it. No sales efforts were made.”

The Trump Organization did not respond to a request for comment.

Yearslong strike to years of plans

Wynn’s new spread, former home of the Frontier, boasts a volatile history marked by labor strife and several big project plans that never materialized.

Ruffin acquired the Frontier in 1998, ending a bitter Culinary union strike that started there in 1991. He renamed it the New Frontier and announced plans in 2000 to replace it with City by the Bay, a $700 million San Francisco-themed casino resort.

In 2002, Ruffin and Trump unveiled plans for a 60-story condo tower on Ruffin-owned land behind the New Frontier.

Around the same time, Ruffin announced plans for a $750 million to $800 million resort at his New Frontier site, to be built with City by the Bay, reports said.

Ruffin’s project plans changed — at one point he pitched plans for a $2 billion hotel called Montreux. But he kept the New Frontier standing and sold it for $1.2 billion in 2007, the peak of the boom years.

The buyers, Israeli investors, imploded the hotel with plans for a luxury resort called Plaza Las Vegas, but the economy soon crashed, and they never built the project.

Australian billionaire James Packer’s company, Crown Resorts, acquired the site through foreclosure in 2014.

His group filed plans for the 1,100-room Alon, but Packer reportedly had trouble raising project funds.

Crown bailed on Alon and put the site up for sale last May.

Billionaire buddies

Trump, 71, and Ruffin, 82, have been friends for years. In 2008, Trump was the best man at Ruffin’s wedding to then-26-year-old Oleksandra Nikolayenko, a Ukrainian beauty queen.

The wedding was held at Trump’s Mar-a-Lago Club in Palm Beach, Florida.

Their second Trump tower in Las Vegas had been in the works since at least 2005, or during the bubble years, county records indicate.

At the time, with easy money everywhere, numerous investors were pitching plans for high-rises here, a push boosters called the “Manhattanization” of Las Vegas.

Las Vegas was ground zero for America’s real estate boom and bust. And in the end, like Trump and Ruffin’s second high-rise, most of the planned towers never came out of the ground.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.

ad-high_impact_4
Local
Lip Smacking Foodie Tours takes you where the locals go
Donald Contursi talks about Lip Smacking Foodie Tours, which offers walking tours of restaurants on and off Las Vegas Boulevard with food samples and tidbits of history about the places they visit.
Bump stock manufacturers under fire
The Justice Department said last month that it had started the process to amend federal firearms regulations to clarify that federal law defines bump stocks as machine guns.
Art Bell’s Top 10 Shows
A selection of radio host Art Bell’s most popular shows.
Longtime Las Vegas attorney John Momot dies at age 74
Criminal defense attorney John Momot, who represented mob figures and even played himself in the movie “Casino,” has died.
David Copperfield in court after man injured during magic trick
The attorney for a British man who is suing illusionist David Copperfield said his client suffered serious injuries after being called on stage during Copperfield's show at MGM Grand.
5 things connecting Las Vegas and Marilyn Monroe
1. Marilyn Monroe, known then as Norma Jeane, obtained her first divorce in Las Vegas at the age of 20 on September 13, 1946. 2. According to some biographers, Monroe lived at 604 S. 3rd Street for four months during the summer of 1946. The house has since been torn down and is now the site of a parking lot. 3. In 1954, Monroe almost married Joe DiMaggio in Las Vegas but the wedding was called off last minute. The wedding was to be held at the Hotel El Rancho Vegas which was located on the southwest corner of Sahara Avenue and Las Vegas Boulevard. 4. Las Vegas has at least one road dedicated to the star. Marilyn Monroe Avenue is located in east Las Vegas and intersects with Betty Davis Street and Cary Grant Court. 5. There are currently more than 20 Marilyn Monroe impersonators for hire in the Las Vegas Valley.
Sir Richard Branson announces purchase of Hard Rock Hotel
Sir Richard Branson, founder of the Virgin Group, has acquired the Hard Rock Hotel with partners and plans to turn it into a Virgin-branded property by the end of 2019.
3 Centennial High School students killed in Calif. crash (Full)
Three Centennial High School students were killed Thursday morning in Southern California when their vehicle was struck by a suspected drunken driver while they were enjoying their spring break, according to a family member of one of the victims.
Retail Restroom Sexual Assault Suspect
Las Vegas police are asking for help finding a man they said groped a woman in a south Las Vegas Valley restroom. (Las Vegas Metropolitan Police Department)
Calvary Christian Learning Academy, “There was no fair warning.”
Samantha O’Brien, whose three-year-old daughter attended the Calvary Christian Learning Academy daycare, found out Monday night when her daughter’s teacher called about the school closing.
Mojave Max at Springs Preserve
File footage of Mojave Max at Springs Preserve. (Springs Preserve)
Companies bet their futures on cryptocurrency
Two Las Vegas entrepreneurs talk about finding their niche in blockchain enabled technologies and digital currency.
Solar panels reduce energy bill for CCSD
Wilbur and Theresa Faiss Middle School is one of 42 CCSD schools with solar panel installations, saving approximately $514,000 per year in energy costs.
Red carpet at MGM for Dan Reynolds Believer screening
Kats on the red carpet for the VIP screening of "Believer," the documentary by Imagine Dragons frontman Dan Reynolds about how the Mormon Church treats its LGBTQ members.
Driver dies in single-vehicle crash
One person is dead after an early Wednesday morning crash in the northwest valley. The single-vehicle crash was called in about 1:35 a.m. on Jones Boulevard just north of Deer Springs Way, according to Metropolitan Police Department Sgt. Robert Stauffer. The driver, who was the only person inside the vehicle, died at the scene.
Uber Health to Improve Patient Ride-Hailing Services
Uber Health to Improve Patient Ride-Hailing Services On Thursday, Uber launched its Uber Health platform for healthcare providers. Medical facilities, rehab centers, clinics and hospitals can book rides for patients from a centralized dashboard – no app required. According to Techcrunch, Uber Health general manager Chris Weber noted some 3.6 million Americans miss appointments due to lack access to reliable transportation. Uber’s endeavors into health care trace back to 2014, when Uber first offered on-demand flu shots in large markets across the U.S. Since then there have been similar efforts throughout the world, from diabetes and thyroid testing in India, to subsidized rides for breast cancer screening in the U.S., to many more. Last summer, over 100 healthcare organizations joined the platform during a private beta. (Las Vegas Review-Journal)
Las Vegas firefighters put out blaze along Bonanza Road
Las Vegas firefighters put out a blaze that burned for about 15 minutes Feb. 20, 2018, along Bonanza Road, across from the Las Vegas Review-Journal. (Jeff Mosier/Las Vegas Review-Journal)
Cabana Market Shooting -- Persons of Interest
On February 3, 2018 at approximately 1:57 p.m., patrol officers were dispatched to a parking lot located in the 3900 block of East Owens Avenue to investigate a report that a man had been shot. Responding officers located an unresponsive adult male suffering from a gunshot wound. The victim was pronounced deceased at the scene. (Las Vegas Metropolitan Police Department)
Business
Elaine Wynn continues her fight to change Wynn Resorts board
Elaine Wynn, the largest shareholder of Wynn Resorts Ltd., is seeking to kick a friend of her ex-husband Steve Wynn off the company’s board of directors. (Todd Prince/Las Vegas Review-Journal)
Zillow is getting into house flipping in Las Vegas
Las Vegas Review-Journal real estate reporter Eli Segall says flipping houses has waned in popularity after the housing bubble burst.
Ellis Island Buys Mt. Charleston Lodge
Ellis Island, which operates a casino, brewery and hotel just off the Strip, purchased the Mt. Charleston Lodge in early April.
Casinos to be penalized for allowing drug-impaired customers to gamble
Nevada Gaming Commission Chairman Tony Alamo talks about an amendment making casinos subject to the same disciplinary standards of preventing people to gamble if impaired by drugs as they are for letting them play while intoxicated by alcohol.
Terrible Herbst to open large travel center in Southern Nevada
The 50,000-square-foot commercial travel center will include 96 fuel pumps and the third White Castle restaurant in Southern Nevada. Wade Tyler Millward reports.
Art Bell’s Top 10 Shows
A selection of radio host Art Bell’s most popular shows.
Hooters owner talks about room upgrades at his hotel-casino
George Ruff, founder and senior principal of Trinity Hotel Investors L.L.C., owner of Hooters Hotel and Casino in Las Vegas, talks about recent room upgrades at the hotel. K.M. Cannon/Las Vegas Review-Journal
Passengers Discuss Allegiant Air
Allegiant Air passengers voice their views on the airline at McCarran International Airport on April 16, 2018. (Bailey Schulz/Las Vegas Review-Journal)
Longtime Las Vegas attorney John Momot dies at age 74
Criminal defense attorney John Momot, who represented mob figures and even played himself in the movie “Casino,” has died.
Trump Slams Amazon for Not Paying Enough in Taxes
Trump Slams Amazon for Not Paying Enough in Taxes Trump tweeted his concerns about the company on Thursday. This isn't the first time Trump commented on the issues via Twitter. August 2017 December 2017 Amazon did hold back on paying state taxes in 1995, but the company has been routinely collecting state sales taxes since then. In 2016, the company's report from the Securities and Exchange Commission confirmed it paid $412 million in taxes.
David Copperfield in court after man injured during magic trick
The attorney for a British man who is suing illusionist David Copperfield said his client suffered serious injuries after being called on stage during Copperfield's show at MGM Grand.
eyecandylab CEO shows augmented reality during NAB
Robin Sho Moser, CEO and co-founder of eyecandylab gives an augmented reality demonstration at his booth during the National Association of Broadcaster Show at the Las Vegas Convention Center. K.M. Cannon/Las Vegas Review-Journal
Trends in access to capital for local black business owners
Denette Braud, owner of Braud’s Funnel Cake Cafe, talks about what owning her own business means to her.
Sir Richard Branson announces purchase of Hard Rock Hotel
Sir Richard Branson, founder of the Virgin Group, has acquired the Hard Rock Hotel with partners and plans to turn it into a Virgin-branded property by the end of 2019.
Calvary Christian Learning Academy, “There was no fair warning.”
Samantha O’Brien, whose three-year-old daughter attended the Calvary Christian Learning Academy daycare, found out Monday night when her daughter’s teacher called about the school closing.
Adobe unveils #HackTheBracket application for March Madness
Adobe unveiled their #HackTheBracket application at the Adobe Summit trade show at Sands Expo. People can use data from Adobe Analytics to make their bracket for March Madness. K.M. Cannon/Las Vegas Review-Journal
Adidas Signs Yankees' Star Aaron Judge
Adidas Signs New York Yankees Star Aaron Judge The slugger is set to don a new set of stripes this season after signing with the apparel company. Aaron Judge Terms of the deal were not disclosed. The deal includes branding on his batting gloves and wristbands. Judge, the AL's reigning Rookie of the Year, was previously under contract with Under Armour since 2014. Judge won the American League Rookie of the Year award last season after setting an MLB record for most homers in a rookie season (52).
Esports athletes are sponsored, too
Meet Red Bull-sponsored professional esports player Daryl S. Lewis, better known by his in-game name Snake Eyez. Nicole Raz Las Vegas Review-Journal.
Bettor Investments turned into a bad bet
Bettor Investments formerly operated a Nevada-licensed entity betting operation. The company promised “conservative growth, profits and stability for our investors.” Matt Stuart, who ran the fund, shut it down in late 2016 and never made good on an agreement with shareholders.
Starbucks Will Give You $10 Million for a Better Cup Design
Starbucks Will Give You $10 Million for a Better Cup Design Get your thinking caps on because the company is looking for a new cup that's easier to recycle. The $10 million grant challenge sees Starbucks partnering with investor group Closed Loop Partners for the project. According to CNN Money, Aside from the new cup design challenge, Starbucks stated it will test a cup with an inner lining made from plant fibers to prevent hot liquid from leaking. Will you join the challenge for #Bettercups?
Las Vegas bartenders who worked the Route 91 Harvest Music Festival question what they were paid
Reneé Black, left, and her husband Griffin Black talk to the Review-Journal at their home in Las Vegas, Tuesday, March 6, 2018. Reneé was a bartender at Route 91, and Griffin was a bar back. They were hired as independent contractors, but received forms months later indicating they were employees. They also were never paid their last day of tips. Nicole Raz/Las Vegas Review-Journal.
Bad-beat jackpot money will finally be awarded
People who thought they had won in Station Casinos’ “bad beat jackpot” poker promotion were unhappy. They waited months to get paid. And now the bad-beat jackpot is gone.
New developments coming to Las Vegas' Craig Road
Gina Gavan, economic and business development director for North Las Vegas, discusses new development projects on Craig Road in North Las Vegas. Art Marroquin/ Las Vegas Review-Journal
Companies bet their futures on cryptocurrency
Two Las Vegas entrepreneurs talk about finding their niche in blockchain enabled technologies and digital currency.
Solar panels reduce energy bill for CCSD
Wilbur and Theresa Faiss Middle School is one of 42 CCSD schools with solar panel installations, saving approximately $514,000 per year in energy costs.
Dallisa Hocking And A Grandmothers Psychic Gift
Dallisa Hocking’s new “boutique soul center” pays tribute to her late Grandma Ellie. (John Przybys/Las Vegas Review-Journal)
Can't pay the IRS? You do have options
There's a little more than five weeks until this year’s tax filing deadline of April 17. But many small business owners are wondering, “How am I going to pay my taxes?” When owners haven’t set aside enough money to cover what they owe the government, they have options. — The easiest and cheapest alternative may be to dip into personal savings. — If you have available credit, you may want to borrow from a lender or credit card. — Also, the IRS can work out an installment payment plan.
Amazon Offering Discounted Prime Memberships to Medicaid Recipients
Amazon Offering Discounted Prime Memberships to Medicaid Recipients Individuals with a valid Medicaid or Electronic Benefits Transfer (EBT) card The $5.99 membership can be renewed every year for up to four years. The reduced Prime membership comes with the same benefits of a standard one, including free two-day shipping, Prime Video, Prime Music and Prime Now. Last year, Amazon also joined a USDA pilot program that allows those receiving government assistance through the Supplemental Nutrition Assistance Program to buy groceries through online markets like Amazon's FreshDirect or Walmart.
Jeff Bezos New Net Worth Revealed, Still Richest Man Alive
At the end of 2017, Bezos was estimated to be worth $112 billion, earning the top spot on Forbes' world's billionaires list. According to the Bloomberg Billionaires Index, the Amazon founder's net worth is now $127 billion, which the report states is the combined wealth of 2.3 million Americans.
Dick's Sporting Goods Ends Sale of Assault Weapons Florida School Shooting
Dick's Sporting Goods Ends Sale of Assault Weapons Florida School Shooting The retailer announced the move in an open letter and an appearance by CEO Ed Stack on 'Good Morning America.' Ed Stack, (Good Morning America) Ed Stack, (Good Morning America) Dick's is also ending the sale of high-capacity magazines and sales of guns to people under 21 years old. The company ended the sale of assault weapons at Dick's-branded stores after the Newtown, Conn. school shooting in 2012. However, they were still selling them at its 35 Field & Stream locations. Nikolas Cruz, 17, shot and killed 17 students at Marjory Stoneman Douglas High School in Florida on Feb. 14.
TOP NEWS
News Headlines
ad-infeed_1
ads_infeed_2
Local Spotlight
Events
Home Front Page Footer Listing
Circular
You May Like

You May Like