Australian firm buys iconic Las Vegas site

The operation closed at US$3.1m.
The operation closed at US$3.1m.

BBC Capital plans to develop the site of the former Moulin Rouge hotel and casino in the west of the city.

Australia.- BBC Capital, an Australian private equity investment firm, has acquired the vacant site of the former Moulin Rouge Hotel in downtown Las Vegas for the development of a new casino.

The sale was approved by Clark County District Court judge, Elizabeth Gonzalez.

BBC Capital assigned its interest in the sale to RAH Capital, a Nevada-based company created for the operation.

According to Las Vegas Review, RAH Capital paid US$3.1m for the 11.3 vacant acres, including a parcel attached to an active non-restricted gaming licence.

The Moulin Rouge Hotel was the first racially integrated casino in west Las Vegas. It closed in 1955, although continued to open for a minimum of eight hours every two years to retain its licence. The building itself was demolished in 2010 after being largely destroyed by a series of fires. The legendary site has been in court receivership since 2013.

Local residents are attached to the Moulin Rouge’s historic significance. According to media reports, concerns have already been raised over the future of the site.

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australia Las vegas Moulin Rouge