Stardust, it's our anniversary

Once one of Streep's swing resorts, the owner of Stardust hopes to showcase the property's retro appeal in his new business in the future.

Celebrating its 45th anniversary last week, Stardust was one of the largest and coolest Streep resorts when it opened on July 2, 1958. The resort had the largest 105-foot pool and 16,500-square-foot casino in the U.S. at the time, and the marquee was the largest electronic display in the world.

And while there are no huge resort buildings like erupting volcanic entrances, luxurious spas, or trendy nightclubs, Chairman Bill Boyd said the building is still a cash cow for Boyd Gaming.

"We still have very positive cash flow," Boyd said. Stardust's cash flow increased 17.8% last year to $15.1 million. In the first quarter of 2003, cash flow was also solid at $4.8 million, up 6.9%. 파워볼사이트

Boyd acknowledged that Stardust has seen more glamorous days, but said those looking for a retro Las Vegas style can find it in Stardust. "It's Old Las Vegas, and we have a lot of customers who enjoy the classic Las Vegas experience," Boyd said.

While Boyd Gaming is celebrating its past, the company is also looking ahead to the future of the property. "Stardust and the potential for redevelopment are important assets for our company," Boyd said, noting that the company has not decided on a firm redevelopment plan for the Stardust site.

Boyd, however, said he looked forward to making slow decisions about the development plans for the Stardust site. He said the results of the company's plans to open the new Borgata Mega Resort in Atlantic City and Steve Wynn's 2005 Wynn Las Vegas will figure out his calculus.

Boyd purchased the property and its downtown cousin, Fremont, on Feb. 28, 1985, 16 months after state gaming regulators asked him to run stardust. Boyd ended up being fined $3.5 million for skimming while investigators investigated the alleged skimming of owners, including Al Sachs and Herb Tobman.

He recalled that a member of the Game Control Board called Boyd in 1983 to ask him if he could keep Stardust's over 2,000 employees working by running hotels and casinos. "The state of Nevada has done us a very good job, and we owe something," Chairman Bill Boyd recently said he thought at the time. "I was kind of naive because the first three months were a war." But after reigning in some of the excesses of the previous regime, Boyd executives learned enough about the property to make them eager to bid for Stardust and Fremont, Boyd said.

The company's roots were downtown Las Vegas and Sam's Town on the Boulder Highway, but Boyd was unfazed by the prospect of competing with the big boys.

"It's the same business no matter where you look," Boyd explained. The family introduced Boyd's personal customer service style, which he had maintained for nearly two decades.

"When we took over, dealers weren't even allowed to talk to customers," he said. "We're more of a family company."

The first more than 25 years of Stardust were also family affairs led by the godfather. Among Stardust's notorious owners and hidden managers were Tony Connor, the founder of the original property but who died before it opened, Chicago mobster Sam Giancarna, Cleveland mobster and Desert Inn owner Moe Dalits, and Alan Glick, the alleged gangster's frontman.

Larry Vance, a longtime Stardust employee who has worked in various entertainment and food and beverage sectors at the property since 1961, built both mob and Boyd-era bridges.

Vance was a busboy, waiter, captain, valet, and remote driver before joining the mid-'70s management team. "Before Caesars, before International (now Las Vegas Hilton), before Convention Center, we were that," Vance said. "The stardust was the dead center strip, and we were the biggest thing in the world."

Boyd prides itself on reinvesting in the company's casinos, noting the new hotel tower the company added in 1991.

Stardust has faced a number of challenges since Boyd bought the property, acknowledging a number of unexpected ones. One of the biggest such changes was the dramatic strip building boom, which began in 1989 when Steve Wynn opened the Mirage.