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Jan. 19, 2008
Copyright © Las Vegas Review-Journal

New owner plans to close, implode Greek Isles resort

Plans approved for new 780-room project

By ARNOLD M. KNIGHTLY
REVIEW-JOURNAL

The director of DI Development Group said Friday his company will close and implode the Greek Isles, seen Wednesday, to make way for a mixed-use development. The company set no closing date.
Photo by Sara Tramiel.

The fans of Las Vegas-style hotel implosions may have another event to witness by the end of the year.

The new owner of the Greek Isles hotel-casino said it plans to close and implode the property to make way for a new mixed-use development.

"By September, a determinant plan will be in place for a timeline for the overall project," said Harold Rothstein, director of DI Development Group, the property's owner. No date has been set to close the 37-year-old property, but Rothstein said he plans to give Greek Isle's employees and customers six-month notice.

Clark County commissioners Wednesday approved plans for a new mixed-use development on the 6.1-acre site on Convention Center Drive.


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    • Plans call for two towers with 780 hotel rooms, a 77,000-square-foot casino and 71,200 square feet of convention, retail and restaurants.

    Rothstein said he is still arranging financing for the project and should have an agreement soon. He said he couldn't estimate what the new development will cost.

    He bought the site for $48.8 million in July.

    The building, which was formerly the Debbie Reynolds Hotel, has 202 rooms in a 14-story hotel tower, an all slot-machine casino, a restaurant and a showroom with a tribute show to the Rat Pack.

    Plans for the Greek Isles fit the county's plans to have the half-mile stretch between the Strip and the convention center become more of a pedestrian thoroughfare in the changing neighborhood.

    Last month, hotel operator Marriott International received the county's blessing for a 3,500-room hotel and casino on 14.5 acres neighboring Greek Isles to the east.

    Projects under way near the convention center include Boyd Gaming Corp.'s $4.8 billion Echelon, Wynn Resorts Ltd.'s $2.1 billion Encore and the $2.9 billion Fontainebleau.

    "I personally think it's going to be the type of neighborhood you have on Flamingo (Road) and Las Vegas Boulevard," Rothstein said. "They're all real projects. These are all projects that are funded and ready to go."

    Another nearby project under development is New York-based Elad Group's $5 billion Plaza, slated for the former New Frontier site.

    Contact reporter Arnold M. Knightly at aknightly@reviewjournal.com or (702) 477-3893.



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    Alex wrote on January 26, 2008 11:39 AM: Whats going to happen to the wedding chapel? I know people who got married there, its a cute place?


    Sunny wrote on January 21, 2008 04:22 PM: The Greek Isles is one of the last of the older Vegas casinos. It may not matter to most people but it matters to me. Having worked there, and my husband still works there, we have made some good friends at the Greek. I think this is a tragedy. Yeah, the place may not be the fanciest, biggest, prettiest, cleanest...but the home-like atmosphere is cool and comforting. It's like having an extended family whom I am going to miss very much. The hardest part about all of this, for most of the people being put out of a job at the Greek, they won't have as much of a problem finding work. The people who work for the theater, NOT the actors or magicians, how easy is it going to be for them to get another job?? I like the fact that this place is off the strip, just far enough away from the crowds but close enough that if you wanted to go to Bally's, just walk to the strip and take the deuce.


    Tony wrote on January 21, 2008 03:18 AM: This is a great little place. Would hate to see it go. Where could one go and see the bar-tender moping the casino floor at night. Or the change person running behind the cage and making change as well.


    al wrote on January 19, 2008 04:12 PM: Trish is right. I am local, and don't like the strip... slot machines and poker tables wrapped in a fancy shell, after shell, after shell, after shell. BUT maybe this "Mixed-Use" project will add something different :)


    old rocker wrote on January 19, 2008 12:02 PM: Trish, you're babbling again.


    Trish wrote on January 19, 2008 10:31 AM: Yuk! Well, I guess its what tourists like. More gaming and smoke and gaudy mirrors.... nothing real. Not a real city. City Center..... thats billed as creating a real city in Las Vegas.... heheheh anyone who lives in Las Vegas really want to hang out on the Strip? Let alone in a hotel and gaming project !! LOL LOL !!!