Golden Nugget Las Vegas
Encyclopedia
The Golden Nugget Las Vegas is a luxury casino
-hotel
located in Las Vegas
, Nevada
on the Fremont Street Experience
. The property is owned and operated by Landry's Restaurants
.
It is the largest casino in the downtown area, with a total of 2,345 deluxe guest rooms and suites. It has also maintained AAA's Four Diamond rating consecutively for 32 years from 1977 through 2009. It is one of only two resorts inside the city limits of Las Vegas to earn this distinction, the other being The Resort at Summerlin
.
The Golden Nugget was originally built in 1946, making it one of the oldest casinos in the city. Steve Wynn
bought a stake in the Nugget, which he increased so that, in 1973, he became the majority shareholder, and the youngest casino owner in Las Vegas. In 1977 he opened the first hotel tower and the resort earned its first four diamond rating from Mobil Travel Guide
. It was the foundation for Wynn's rise to prominence in the casino industry. The second hotel tower opened in 1984 along with the showroom, and the third tower was opened in 1989. On 31 May 2000, the Golden Nugget (and all of Steve Wynn's other properties) was sold to Kirk Kerkorian
; the consolidated corporation was known as MGM Mirage
and has been the largest casino corporation in Las Vegas since that date.
Although the Golden Nugget was profitable, it was not part of the master expansion plan of the corporation which was focused on consolidating a long stretch of the Strip by acquiring Mandalay Resort Group, building City Center, and beginning construction in Macau. Gaming revenue on Fremont Street had peaked in fiscal year 1993. The Golden Nugget was sold for $215 million to Poster Financial Group, owned by Timothy Poster and Thomas Breitling
in 2004. When Poster Financial assumed control of the Golden Nugget, they began to upgrade the gambling operation by installing new cashless slot machine
s and by increasing the maximum bet available at table game
s to $15,000. Their story became the basis for The Casino
, a television series on Fox
that premiered on June 14, 2004.
On February 4, 2005, Houston, Texas
-based Landry's Restaurants, Inc.
announced its intent to purchase the property and the Golden Nugget Laughlin
. The sale closed on September 27, 2005.
After the purchase, the Golden Nugget embarked on a 14-month, $100 million renovation project, which was completed in November 2006. In December 2007, the Golden Nugget completed its $70 million Phase II project, which expanded the resort west onto First Street and introduced additional entertainment, event and dining venues. Phase III was the opening of a 500 room, $150 million dollar hotel tower on 20 November 2009 along with the Chart House restaurant.
Television
nugget on display, the Hand of Faith
, is displayed in the Golden Nugget lobby. Weighing 875 troy ounces or 27.21 kilograms and 46 centimeters in length, the Hand of Faith was found near the Golden Triangle in Australia
, and put on display at the casino in 1981 amid a number of other gold nuggets.
The casino's large hotel sign at its entrance off Fremont and Casino Center was removed in 1984 when the casino underwent renovations. The old sign presently sits at the YESCO signage yard.
The expanded resort is built around two aquariums. The largest faces the swimming pool, and incorporates a slide through the tank containing full grown sharks. The smaller aquarium is in the lobby of the Rush Tower. A total of five specialty restaurants were added: Vic and Anthony's steakhouse, The Grotto Italian food, Lillie's Asian Cuisine, Red Sushi, and the Chart House Seafood Restaurant. The Chart House has a view of one of the aquariums.
Tom Breitling and Tim Poster were the highest profile successful entrepreneurs who profited in the downtown market during the last crisis. As recounted in Tom Breitling's book, Double or Nothing, the partners agreed to buy the Golden Nugget
and had an agreement to sell the property after operating it for only one year. The partners made $113 million in profit called the highest rate of return in such a short time in the gaming industry. Amazingly enough the partners had a negative income for the year and the fortune was made while total revenue for downtown was still basically flat.
Casino
In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...
-hotel
Hotel
A hotel is an establishment that provides paid lodging on a short-term basis. The provision of basic accommodation, in times past, consisting only of a room with a bed, a cupboard, a small table and a washstand has largely been replaced by rooms with modern facilities, including en-suite bathrooms...
located in Las Vegas
Downtown Las Vegas
Downtown Las Vegas is the central business district of Las Vegas, Nevada. It is the original gambling district of Las Vegas, prior to the Strip, and the area still incorporates downtown gaming.-Tourism:...
, Nevada
Nevada
Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its...
on the Fremont Street Experience
Fremont Street Experience
The Fremont Street Experience is a pedestrian mall and attraction in downtown Las Vegas, Nevada. The FSE occupies the westernmost 5 blocks of Fremont Street, including the area known for years as "Glitter Gulch," and portions of some other adjacent streets.The attraction is a barrel vault canopy,...
. The property is owned and operated by Landry's Restaurants
Landry's Restaurants, Inc.
-External links:*...
.
It is the largest casino in the downtown area, with a total of 2,345 deluxe guest rooms and suites. It has also maintained AAA's Four Diamond rating consecutively for 32 years from 1977 through 2009. It is one of only two resorts inside the city limits of Las Vegas to earn this distinction, the other being The Resort at Summerlin
The Resort at Summerlin
JW Marriott Las Vegas Resort and Spa is a luxury hotel in Summerlin, Nevada, near Las Vegas. The resort was designed using a Tuscan/Tropical theme...
.
History
Steve Wynn (developer)
Stephen Alan "Steve" Wynn is an American business magnate who played a pivotal role in the 1990s resurgence and expansion of the Las Vegas Strip...
bought a stake in the Nugget, which he increased so that, in 1973, he became the majority shareholder, and the youngest casino owner in Las Vegas. In 1977 he opened the first hotel tower and the resort earned its first four diamond rating from Mobil Travel Guide
Mobil Guide
Forbes Travel Guide is a star rating service and series of travel guides for hotels, restaurants and spas. In 2011, Forbes Travel Guide published its last set of guidebooks and as of November 15, 2011, launched its new web 3.0 platform and online home, , which covers 72 U.S...
. It was the foundation for Wynn's rise to prominence in the casino industry. The second hotel tower opened in 1984 along with the showroom, and the third tower was opened in 1989. On 31 May 2000, the Golden Nugget (and all of Steve Wynn's other properties) was sold to Kirk Kerkorian
Kirk Kerkorian
Kerkor "Kirk" Kerkorian is an American businessman who is the president/CEO of Tracinda Corporation, his private holding company based in Beverly Hills, California. Kerkorian is known as one of the important figures in shaping Las Vegas and, with architect Martin Stern, Jr...
; the consolidated corporation was known as MGM Mirage
MGM Mirage
Not to be confused with the Las Vegas, Nevada based casino/resort operator Resorts International Holdings.MGM Resorts International is a Paradise, Nevada based corporation that brands itself as a global hospitality company. It is the second largest gaming company in the world by revenue - about...
and has been the largest casino corporation in Las Vegas since that date.
Although the Golden Nugget was profitable, it was not part of the master expansion plan of the corporation which was focused on consolidating a long stretch of the Strip by acquiring Mandalay Resort Group, building City Center, and beginning construction in Macau. Gaming revenue on Fremont Street had peaked in fiscal year 1993. The Golden Nugget was sold for $215 million to Poster Financial Group, owned by Timothy Poster and Thomas Breitling
Thomas Breitling
Thomas Breitling is an American entrepreneur.His father was a pilot for Northwest Airlines after serving in the Air Force. His mother was a nurse. Breitling was educated at St. John the Baptist in Savage, Minnesota through the 8th grade...
in 2004. When Poster Financial assumed control of the Golden Nugget, they began to upgrade the gambling operation by installing new cashless slot machine
Slot machine
A slot machine , informally fruit machine , the slots , poker machine or "pokies" or simply slot is a casino gambling machine with three or more reels which spin when a button is pushed...
s and by increasing the maximum bet available at table game
Table game
In casinos, the term table game is used to distinguish games such as blackjack, craps, roulette and baccarat that are played on a table and operated by one or more live dealers like a croupier or poker dealer, as opposed to a games played on a mechanical device like a video slot machine...
s to $15,000. Their story became the basis for The Casino
The Casino
The Casino was a American reality television series broadcast on the FOX network in 2004 which followed two dot-com millionaires, Thomas Breitling and Tim Poster, as they manage the Golden Nugget Hotel & Casino, located in downtown Las Vegas instead of the more popular Las Vegas Strip.The show was...
, a television series on Fox
Fox Broadcasting Company
Fox Broadcasting Company, commonly referred to as Fox Network or simply Fox , is an American commercial broadcasting television network owned by Fox Entertainment Group, part of Rupert Murdoch's News Corporation. Launched on October 9, 1986, Fox was the highest-rated broadcast network in the...
that premiered on June 14, 2004.
On February 4, 2005, Houston, Texas
Houston, Texas
Houston is the fourth-largest city in the United States, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of . Houston is the seat of Harris County and the economic center of , which is the ...
-based Landry's Restaurants, Inc.
Landry's Restaurants, Inc.
-External links:*...
announced its intent to purchase the property and the Golden Nugget Laughlin
Golden Nugget Laughlin
The Golden Nugget Laughlin is a casino and hotel located in Laughlin, Nevada and is owned and operated by Landry's Restaurants.The Golden Nugget Laughlin property is the smallest in Laughlin, with only 300 rooms. It is a tropical themed, three-story hotel...
. The sale closed on September 27, 2005.
Onscreen
Films- In the James BondJames BondJames Bond, code name 007, is a fictional character created in 1953 by writer Ian Fleming, who featured him in twelve novels and two short story collections. There have been a six other authors who wrote authorised Bond novels or novelizations after Fleming's death in 1964: Kingsley Amis,...
film Diamonds Are ForeverDiamonds Are Forever (film)Diamonds Are Forever is the seventh spy film in the Eon Productions James Bond series, and the sixth and final Eon Productions film to star Sean Connery as the fictional MI6 agent James Bond. The film is based on Ian Fleming's 1956 novel of the same name, and is the second of four James Bond films...
(1971), the casino can be continually seen in the police chase scene. - The casino can be seen in the beginning of the film Smokin' AcesSmokin' AcesSmokin' Aces is a 2006 crime film, written and directed by Joe Carnahan. It stars Jeremy Piven as a Las Vegas magician turned mafia informant and Ryan Reynolds as the FBI agent assigned to protect him...
(2006), in which the antagonist cuts the ribbons for the casino's grand opening. - In the film Next (2007), Nicolas Cage is briefly seen entering the Golden Nugget through the Fremont Street entrance.
- The Golden Nugget features prominently in the poker mockumentary The GrandThe Grand (film)The Grand is an improv comedy film directed by Zak Penn. The film has an ensemble cast including Ray Romano, Woody Harrelson, Chris Parnell, Werner Herzog, Jason Alexander, Dennis Farina, David Cross, Gabe Kaplan, Michael Karnow and Cheryl Hines along with several real Las Vegas poker...
(2008).
Television
- The CasinoThe CasinoThe Casino was a American reality television series broadcast on the FOX network in 2004 which followed two dot-com millionaires, Thomas Breitling and Tim Poster, as they manage the Golden Nugget Hotel & Casino, located in downtown Las Vegas instead of the more popular Las Vegas Strip.The show was...
(2004), a FoxFox Broadcasting CompanyFox Broadcasting Company, commonly referred to as Fox Network or simply Fox , is an American commercial broadcasting television network owned by Fox Entertainment Group, part of Rupert Murdoch's News Corporation. Launched on October 9, 1986, Fox was the highest-rated broadcast network in the...
reality television series is based on the story of the Golden Nuggets acquisition by Poster Financial GroupPoster Financial GroupFor the predecessor companies and owners see Golden Nugget Companies and Mirage Resorts Golden Nugget, Inc. is a Las Vegas, Nevada based private investment firm that was originally created by Timothy Poster and Thomas Breitling to acquire the Golden Nugget Las Vegas and the Golden Nugget...
. - In 2010, the casino's pool and shark aquarium were featured throughout an episode of CSI: Crime Scene InvestigationCSI: Crime Scene Investigation (season 11)The eleventh season of CSI: Crime Scene Investigation premiered on CBS on September 23, 2010 and ended May 12, 2011.-Notable cast members:-Episodes:- U.S. Nielsen Ratings :-External links:...
.
In games
- In all Street Fighter IIStreet Fighter IIis a competitive fighting game originally released for the arcades in . It is the arcade sequel to the original Street Fighter released in and was Capcom's fourteenth title that ran on the CP System arcade hardware...
games (except HD Remix), Balrog's (M. Bison in Japanese) stage is set in front of the Golden Nugget. The Golden Nugget sign is clearly seen in the back. In HD Remix, it has been changed to the "Crazy Buffalo", presumably in reference to the name of Balrog's original Super Combo. - The name Golden Nugget also designates casino games on Game Boy AdvanceGame Boy AdvanceThe is a 32-bit handheld video game console developed, manufactured, and marketed by Nintendo. It is the successor to the Game Boy Color. It was released in Japan on March 21, 2001; in North America on June 11, 2001; in Australia and Europe on June 22, 2001; and in the People's Republic of China...
, Nintendo 64Nintendo 64The , often referred to as N64, was Nintendo′s third home video game console for the international market. Named for its 64-bit CPU, it was released in June 1996 in Japan, September 1996 in North America, March 1997 in Europe and Australia, September 1997 in France and December 1997 in Brazil...
, PlayStationPlayStationThe is a 32-bit fifth-generation video game console first released by Sony Computer Entertainment in Japan on December 3, .The PlayStation was the first of the PlayStation series of consoles and handheld game devices. The PlayStation 2 was the console's successor in 2000...
, and personal computers. - In Fallout: New VegasFallout: New VegasFallout: New Vegas is a first person action role-playing video game in the Fallout series developed by Obsidian Entertainment, and published by Bethesda Softworks. The game is based in a post-apocalyptic environment in and around Las Vegas, Nevada...
, the logo of the "Silver Rush," formerly a gambling hall, shows a similarity to the logo of the "Golden Nugget."
Attractions
The world's largest goldGold
Gold is a chemical element with the symbol Au and an atomic number of 79. Gold is a dense, soft, shiny, malleable and ductile metal. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is a...
nugget on display, the Hand of Faith
Hand of Faith
The Hand of Faith is a nugget of fine-quality gold that was found by Kevin Hillier using a metal detector near Kingower, Victoria, Australia on 26 September 1980. Weighing 875 troy ounces , the gold nugget was only 12 inches below the surface, resting in a vertical position...
, is displayed in the Golden Nugget lobby. Weighing 875 troy ounces or 27.21 kilograms and 46 centimeters in length, the Hand of Faith was found near the Golden Triangle in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, and put on display at the casino in 1981 amid a number of other gold nuggets.
The casino's large hotel sign at its entrance off Fremont and Casino Center was removed in 1984 when the casino underwent renovations. The old sign presently sits at the YESCO signage yard.
The expanded resort is built around two aquariums. The largest faces the swimming pool, and incorporates a slide through the tank containing full grown sharks. The smaller aquarium is in the lobby of the Rush Tower. A total of five specialty restaurants were added: Vic and Anthony's steakhouse, The Grotto Italian food, Lillie's Asian Cuisine, Red Sushi, and the Chart House Seafood Restaurant. The Chart House has a view of one of the aquariums.
Golden Nugget and Poster Financial Group
Golden Nugget
Golden Nugget has several uses including:Casinos:*Golden Nugget Atlantic City in Atlantic City, New Jersey**"Golden Nugget" was also the original name of the ACH Casino Resort from 1980 to 1987*Golden Nugget Laughlin in Laughlin, Nevada...
and had an agreement to sell the property after operating it for only one year. The partners made $113 million in profit called the highest rate of return in such a short time in the gaming industry. Amazingly enough the partners had a negative income for the year and the fortune was made while total revenue for downtown was still basically flat.
| Date | Description |
|---|---|
| Year 2000 | Tom Breitling and Tim Poster sell their web based business for over $100 million |
| Early 2003 | Tom Breitling and Tim Poster begin shopping for a quality affordable casino for their vision of Vintage Vegas |
| Jun 2003 | MGM-Mirage announced an agreement to sell the Golden Nugget (Las Vegas & Laughlin) to Poster Financial Group for $215m |
| Jan 2004 | Binion's Horseshoe Binion's Horseshoe Binion's Horseshoe, also known as the Horseshoe Casino or simply The Horseshoe, was a hotel and casino located in downtown Las Vegas, Nevada on what is now the Fremont Street Experience. The casino was named for its founder, Benny Binion and had 366 rooms, three restaurants and a rooftop pool.The... across the street from Golden Nugget closed because of IRS liens |
| Jan 2004 | Poster & Breitling take possession of the Golden Nugget. Introduce policy high-limit policy on table games |
| Jun 2004 | Fox Reality Show The Casino The Casino The Casino was a American reality television series broadcast on the FOX network in 2004 which followed two dot-com millionaires, Thomas Breitling and Tim Poster, as they manage the Golden Nugget Hotel & Casino, located in downtown Las Vegas instead of the more popular Las Vegas Strip.The show was... about Tim and Tom debuts but quickly cancelled because of dismal ratings |
| Jun 2004 | Tim and Tom are two of the 50 Hottest Bachelors in People Magazine |
| Sep 2004 | High-limit policy policy backfires, as lucky gambler known as Mr. Royalty wins $8.5 million on a 2 week hot streak |
| Dec 2004 | Annual report filed with SEC shows net loss of $9.196m for Poster Financial Group for the year 2004 |
| Dec 2004 | Landry's Restaurant successfully executed a refinancing of $850m |
| Feb 2005 | Agreement of sale entered with Landry's Restaurant for Golden Nugget |
| Sep 2005 | Landry's Restaurant takes possession of the Golden Nugget Golden Nugget Golden Nugget has several uses including:Casinos:*Golden Nugget Atlantic City in Atlantic City, New Jersey**"Golden Nugget" was also the original name of the ACH Casino Resort from 1980 to 1987*Golden Nugget Laughlin in Laughlin, Nevada... . |