LAS VEGAS (AP) — The New Frontier, which earned historical notations by becoming the Strip's first theme casino and hosting Elvis Presley's debut in the city, is set to become history itself early Tuesday when it is imploded to make way for a $5 billion megaresort.
The low-key gambling hall, which opened as the Last Frontier in 1942 with a cowboy village theme and later embraced the space age before returning to its Wild West roots, had become known for bikini bull riding, cheap hotel rooms and $5 craps before it closed its doors for good in July.
It will make way for a resort planned by IDB Group and Elad Group, the owner of The Plaza hotel in New York. The developers have said they want to create a luxury hotel with about 3,500 rooms, private residences, retail space and a casino bearing The Plaza brand, all to reach for the highest end of the market.
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The Stardust hotel-casino was imploded in March to make way for Boyd Gaming Corp.'s $4.4 billion casino complex, Echelon, scheduled to open in 2010. The destruction of the New Frontier is the latest step in a dramatic, and expensive, facelift for the northern Strip.
"It's another budget option on the Strip that's gone," said David Schwartz, director of the Center for Gaming Research at the University of Nevada, Las Vegas. "The future is really high-end."
Billionaire Steve Wynn said recently that he had noticed fewer 25-cent slot players wandering into his lavish Wynn Las Vegas resort.
"That's because the Frontier and the Stardust are closed," he said.
The first of Donald Trump's gold-glass, billion-dollar-plus condominium towers is set to open behind the New Frontier site early next year. Wynn plans to open the $2.2 billion Encore in early 2009, and the $2.8 billion Fontainebleau is scheduled to open farther north later that year.
MGM Mirage Inc. is planning its own multibillion-dollar goliath with Kerzner International and Dubai World at the north end of the Strip for 2012.
The transformation has made land prices soar and elevated the northern Strip's importance.
"It just became an epicenter of Vegas," said Phil Ruffin, who sold the 34.5-acre site to Elad for $1.24 billion in May.
Ruffin bought the Frontier in 1997 for $165 million and quickly settled a nearly 6 1/2-year strike by 550 hotel workers, one of the longest job actions in U.S. history.
Ruffin planned to transform the Frontier until ballooning land values changed his mind.
"It was no genius on my part. It was the property itself that just got better," he said. "Let's say (it was) a hell of a lot of luck."
The New Frontier was the second hotel-casino to open on the Strip, and over its 65 years it played host to such entertainers as Ronald Reagan, Wayne Newton and Siegfried & Roy. Presley performed for the first time in Las Vegas at the resort in 1956. Billionaire Howard Hughes once owned it, and Wynn also owned a part of it.
The new owners aim to break ground in the third quarter of 2008 and open in late 2011.
An artist's rendering shows a series of French Renaissance chateau-style towers, complete with the green copper roofs and gable windows that characterize The Plaza in New York. For the Las Vegas version, the buildings are interspersed with swimming pools and greenery.
Elad, which is owned by Israeli billionaire Yitzhak Tshuva, is completing a $400 million renovation of The Plaza in New York. The company has said it plans to take the brand to other cities, including Los Angeles, San Francisco, Washington, Boston, London, Paris, Rome, Tokyo and Shanghai.
