Luxor Las Vegas Demolition Rumors Spread, Insiders Say Days Numbered for MGM Casino
Posted on: June 29, 2020, 08:07h.
Last updated on: June 29, 2020, 10:24h.
The Luxor Resort & Casino on the Las Vegas Strip has been a staple of the city skyline since it opened in 1993. But the iconic pyramid could be facing a much shorter existence than its ancient counterparts in Egypt.
Scott Roeben, the Las Vegas insider who has more sources than an encyclopedia and runs the popular Twitter account Vital Vegas, says Luxor parent company MGM Resorts is strongly considering demolishing the budget and family-friendly Strip property.
Our sources say company officials have discussed demolition of both Luxor and Excalibur for at least five years, but have been unable to proceed due to union contracts. It’s possible the COVID-19 shutdown has paved the way for what’s to come for Luxor,” Roeben explained.
MGM Resorts’ real estate investment trust MGM Growth Properties owns the physical assets of Luxor. Today, it has 4,397 hotel rooms, and casino floor measuring 101,000 square feet.
Roeben went on to say that Las Vegas has pivoted away from themed resorts in recent years. MGM has already transformed Monte Carlo into Park MGM, and largely done away with the “Wizard of Oz” theme at MGM Grand.
Another Strip resort to fold on its original theme includes Treasure Island. Now known as TI, the casino no longer inundates guests with themes of the treasured adventure novel, and it canned its free nightly show “Sirens of TI” in 2013.
End of Era?
Built at a cost of $375 million, Luxor opened just south of Excalibur on October 15, 1993. Named after the town in Egypt, the Luxor pyramid on the Strip is modeled after the Red Pyramid, the largest of the three major pyramids found at the Dahshur necropolis in Cairo.
When Luxor opened, the 30-story resort was the tallest structure on the Strip.
Though MGM has invested in renovations to the Egyptian-themed casino, including a $300 million project in 2007 to remodel 80 percent of the resort’s public areas to focus more on adults, the building’s design makes it nearly impossible to fully move away from its original motif.
There are plenty of Luxor fans who fretted the Vital Vegas news.
“If Las Vegas is to survive, maybe they need to get back to attracting families,” said Shawn Smallman on Twitter. “I personally like both Luxor and Excalibur.” “I don’t care if it’s not fancy, it’s another place I love,” said another Twitter user. “We already had to deal with the pain of losing classics like Stardust, Frontier, and Riviera.”
Just Rumors
MGM Resorts has made no official comment on the Luxor rumors, so for now, fans of the property shouldn’t overly worry. And while Roeben’s track record is solid, Las Vegas is ever-changing and plans – and rumors – often change.
Last year, there were rumblings around town that Caesars Entertainment was actively moving towards demolishing the Brazilian-themed Rio. Rumors suggested the decision was to make way for a MLB ballpark.
It turned out not to be the case, as the off-Strip resort was sold for $526.3 million to Eric Birnbaum’s Dreamscape Companies. Birnbaum says there are no plans to demolish the resort, and he has entered into a two-year leaseback exchange with Caesars for the casino company to operate Rio for $45 million in annual rent.
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Last Comments ( 52 )
I been to Vegas dozens of times and vacation Here many times with friends and family. I love the themed hotels, great food, shows, And location. I like Luxor and have stayed here on my last two trips. I admit I haven’t been here since 2017 and covid-19 2020. I was pleasantly suppried by the Luxor Hotel and staff during my recent stay Nov 2022. I hope they keep it open for next generation to enjoy and experience the city. RS Minnepolis Mn
Do not remove the Luxor or the Excalibur, I always like staying at them 2 Hotels. Please do not Destroy phil.
Naw, don’t tear down the Luxor. Remodel? Yes, by all means. It could be updated to save water, add solar power and more electrical outlets in the rooms. Really like the wall with the big screen tv with all the plug-ins to the tv underneath and accessible. We have been coming to Vegas for the last 15 years and really came to get the old feeling of the Rat Pack and old entertainers of years gone by. We first stayed in the MGM and loved the old portraits of stars on the walls. Stayed at Paris and wasn’t that great. Stayed at the Golden Nugget, great atmosphere but very crowded. The Stratosphere was like staying at motel 6. Stayed at the Westgate, they were killing us with timeshare information and then deletion of the Star Trek Experience. Then at The Luxor. Been staying at Luxor ever since. We stay for a couple weeks in the winter and in the summer The only issue I had with the pyramid was the leaking water from under the shower. The drain was leaking underneath and bubbling out on to the floor. Told housekeeping and they knew about and said maintenance was waiting to repair it. The solution was to give us more towels and cloth shower mats. We have stayed in the two towers of the Luxor and they were pretty nice. Then the little pyramid soaps disappeared. Thus the decline of the Luxor began. Be nice if they had a coffee pot and refrigerator in the room.
Leave the Luxor, Excalibur, & Stratosphere ALONE!! I was just in Vegas for 13 days & spent 4 nights @ Luxor and gambled at all 3. Rooms in Luxor were nice and Excalibur is definitely a family friendly spot in a sea of indiscretion. The thrill rides on top of Stratosphere are fun and reasonably priced. Bartender there was really friendly and accommodating to the small group I was with. Keep these 90s classics as the new stuff is all fancy and redundant now.
I understand that casinos come and go (Stardust, Frontier, Maxim, Rivirera, Sands) But None of those or any other I can think of are as iconic a building/structure as the Luxor. The spot light seen for miles before you arrive, or can even see the sky of the desert come alive with the bright lights of the strip are in sight. Yes, it might never had any of the legends of Las Vegas play there like, Elvis, or the Rat Pack, as the Riviera and Sands did, but you can't deny the awe of its architecture plus knowing theirs no other casino/hotel like it in the world! Revamp/update/remodel, YES, demolish, HELL NO!!
THE MAJESTIC LUXOR MUST REMAIN on the Vegas Strip! It is the most recognizable, incredible and iconic Casino/Hotel that was ever created in Vegas! The open interior of the Pyramid is astounding and the Inclinator Elevator is a crowning achievement of architecture and design! MGM is the worst Corporation ever! No imagination at all and questionable in their decisions, aesthetic and choices of action regarding their line of hotels in Vegas! MGM came in as a destructive big corporation raider and systematically have ruined and disassembled most of the themed hotels they have purchased in Vegas! Instead of tearing iconic hotels down....renovate and modernize them while keeping in the tradition they were originally conceptualized! Hire designers that know what they are doing....instead of the cheap renos you have forced upon your hotel line! My husband and I first stayed at the Luxor in 1997 and when we walked in...it was AWE inspiring...and people loved it! We even have a Papyrus framed that we purchased from a Luxor kiosk inscribed in hieroglyphics by a visiting Professor of Egyptology at the Hotel who personalized the hand painted scrolled artwork for us with our names and date written upon it! It's the best souvenir we ever bought in Vegas! MGM ...with your lack of imagination, you're chasing customers away....because regular hotels are a dime a dozen both off and on the strip! When visitors come to Vegas...they want to be wowed! We want the whole experience...the gambling, the exhibits, musical artists, fantastic shows, entertainment, great food, the lights and the iconic Hotels and the sights of the spectacular Vegas strip! If MGM continues down the path of destruction to the strip ....the Lion roars no more! You've become just another corporation looking to tear down....what stood so tall!
VitalVegas will print any rumor whether substantiated or not. This particular rumor makes absolutely NO sense whatsoever. The replacement cost to build something comparable in size to the Excalibur or Luxor are well in excess of $3 billion (each). The Luxor did $125M and Excalibur $117M in EBITDA in 2019. If MGM were to demolish them and spend $3-4B per to replace them, the new properties would have to do $400M+ EBITDA per year (each) to generate the same kind of returns to investors. It's just plain stupid to believe this rumor.