One of our readers let us know that the following sign has been posted throughout the casino area of the Frontier Hotel:
"REDEMPTION OF ALL NEW FRONTIER CHIPS & TOKENS
Due to the closure of the New Frontier Hotel & Casino, all New Frontier chips and tokens will be redeemable at the New Frontier's main casino cage 24 hours a day up to July 15, 2007.
Thereafter, all chips and tokens will be redeemed exclusively at the Riviera Hotel Casino's main cage 24 hours a day through October 10, 2007. "
Thestrippodcast.com is saying that demolition will take place in September.
The Las Vegas Review Journal is reporting that the new owners are seeking up to $8 Billion (yes, you read that right) from an Israeli investment company to redevelop the site.
Elad Group, the company that owns the Frontier, has said the new hotel, which will be a replica of the famed NYCity Plaza Hotel, will have 3,500 hotel rooms and 300 private residences. It will be an ultraluxury hotel. Elad Group has asked Tel Aviv investment group, IDB Development for help in financing the building of the new property. Each would own half of the hotel if the two companies come to an agreement.
According to various on-line sites, IDB is also providing the funding for the Village at Queensridge another mixed-use property and One Queensridge Place, a high rise luxury condominium development.
Elad Group is said to be spending $400 Million (yes, you read that right) to spruce up the Plaza in NYCity. The Plaza will become a mixture of hotel and private luxury condos.
Channel 13, our local ABC affiliate, has announced that Sunday, July 15th is the closing date for the Frontier Hotel.
Please note, this is not the date of demolition, that has not been set yet, but the hotel will close on that date.