The unfinished multibillion-dollar Fontainebleau development that filed for bankruptcy court protection is nearby. Ruffin said the Sahara’s neighborhood looks “very bad.” “I’d like to see it happen but I don’t think it’s anything imminent.” “I hope we live that long - I don’t see it for a long time,” he said. Phil Ruffin, the owner of Treasure Island in Las Vegas, said redevelopment of the Sahara would be good for the Strip, but he predicted SBE will have a hard time getting financing. And, when Murren’s company built the $8.7 billion Cit圜enter, it used the land that had held the Coney Island-themed Bordwalk. Murren pointed to the Desert Inn making way for Wynn Las Vegas, the Dunes becoming the Bellagio, Aladdin renovating into Planet Hollywood and the original Las Vegas Sands giving way to the Venetian. The two companies have an established marketing relationship. “While today we pause to reflect on many great memories and stories of its legendary past, like so many before it, there is a brighter future for this property.” “While the closing of any hotel is sad, it is a natural and expected part of our great city’s history,” Murren said. MGM Resorts CEO Jim Murren said the closure is part of the Sin City life cycle.
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