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...Mirage with Mandalay Resort Group to form the world's largest gaming company--until last week, when Harrah's Entertainment agreed to buy Caesars Entertainment in a $9.25 billion deal (including cash, stock and debt) that would create an even bigger company. Sheldon Adelson, the 70-year-old owner of the Venetian, is contemplating an IPO to score some cash to make a bigger bet on a new Strip hotel, the Palazzo, and other properties in the U.S. and overseas. In April, Steve Wynn, 62, the man who brought renewed glamour to Vegas in the 1990s with the shimmering-sided...

Author: /time Magazine | Title: The Strip Is Back! | 7/26/2004 | See Source »

Sapphire, billed as the world's largest strip club at a cavernous 71,000 sq. ft., opened two years ago with a party attended by Rachel Hunter, Carmen Electra, Dave Navarro and Tommy Lee. It used to be a mega-gym with a regulation basketball court until the owners decided to turn it into a club. "In real estate, the land goes to the highest and best use," explains co-owner Peter Feinstein. Now instead of collecting gym fees, he charges women $60 to $100 a night to sell $20 lap dances, along with the more profitable revenue stream from...

Author: /time Magazine | Title: The Strip Is Back! | 7/26/2004 | See Source »

...which people no longer change their cell-phone numbers every six months to escape from attachments, debts and exes. Real estate companies are racing to put up 20-story condo towers near the Strip. "People want to own a piece of Vegas," says Jeff Soffer, 36, principal owner of Miami-based Turnberry Associates, which is building condominium towers at the MGM Grand. The company had estimated it would take two years to sell the apartments in the first MGM tower. It took three months...

Author: /time Magazine | Title: The Strip Is Back! | 7/26/2004 | See Source »

...Mirage with Mandalay Resort Group to form the world's largest gaming company - until two weeks ago, when Harrah's Entertainment agreed to buy Caesars Entertainment in a $9.25 billion deal (including cash, stock and debt) that would create an even bigger company. Sheldon Adelson, 70, the owner of the Venetian, is contemplating an ipo to score cash to make a bigger bet on a new Strip hotel, the Palazzo, and other properties in the U.S. and overseas. In April, Steve Wynn, 62, who brought renewed glamour to Vegas in the '90s with the shimmering-sided Mirage and the Bellagio...

Author: /time Magazine | Title: Lovin' Las Vegas | 7/25/2004 | See Source »

...laws to make it difficult for new clubs to open. Sapphire, billed as the world's largest strip club at a cavernous 6,600 sq m, opened two years ago with a party attended by Rachel Hunter, Carmen Electra and Tommy Lee. It was a mega-gym until the owners decided to turn it into a club. "In real estate, the land goes to the highest and best use," explains co-owner Peter Feinstein. Now, instead of gym fees, he charges women $60 to $100 a night to sell $20 lap dances, and draws on more profitable revenue streams such...

Author: /time Magazine | Title: Lovin' Las Vegas | 7/25/2004 | See Source »

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