What Happened to Elvis Presley's Casino?

Elvis Presley

From the 1964 film Viva Las Vegas onwards, Elvis Presley and Las Vegas have been closely linked. As rich in Presley history as Graceland, Elvis’ home in Tennessee, Las Vegas is one of the ultimate destinations for Presley fans hoping to get closer to their musical hero. Every month, over 3000 people use Google to search for attractions relating to Elvis in Las Vegas, the same amount as people searching for information about Elvis’ home in Graceland.

Unfortunately, while tourists and Elvis fans may make the pilgrimage to Las Vegas in search of their iconic hero, nowadays Las Vegas doesn’t offer much in the way of Elvis attractions. Of course, there are Elvis themed weddings available, during which an impersonator will walk the bride up the aisle and sing a medley of The King’s classic songs. However, up until recently, Las Vegas has been lacking in Presley related attractions.

The Elvis-A-Rama, which was owned by Chris Davidson, was the hub for all things Elvis in Las Vegas. Initially, the experience offered an 85-foot mural, but when Davidson took over the museum, he brought with him a huge collection of Elvis related memorabilia. In fact, Davidson was once known as having the “world's largest private collection of Elvis-owned memorabilia” and the experience offered a unique glimpse into the world of Presley. Featuring Elvis’ infamous blue suede shoes, as well as The King’s first Cadillac, the Elvis-A-Rama offered visitors a chance to reconnect with the musical legend.

However, in 2006, Elvis Presley Enterprises Inc (EPE) acquired the assets of the museum, as well as its trademark. Davidson was allowed to take the mural, along with any other items that Graceland allowed him to keep, and there were plans to open a similar museum in Hawaii. The Enterprises’ purchase was to make room for a much touted Elvis Casino Resort, which would open on the Las Vegas Boulevard. While fans were of course sad to see Davidson’s unique museum close, it was believed the new Elvis themed attraction would be better, bigger and receive the backing of Graceland.

We spoke to Phil Arnold, an Elvis Presley collector and webmaster of www.ElvisBlog.net about Elvis attractions in Las Vegas and he noted that since Davidson’s museum has closed, there’s been less of a need to visit Vegas. Arnold informed us that he’s attended various Elvis themed events in Las Vegas, including auctions, tribute shows and the Elvis-A-Rama and went on to note that since the closure of Davidson’s museum, he hasn’t been back to Vegas. If Arnold’s comments are indicative of other Elvis fans, it’s clear to see that the closure of Elvis-A-Rama meant that fans were eagerly awaiting the opening of a new attraction in Las Vegas.

In June 2007, the plans for an Elvis resort were finalised by FX Real Estate who, under the subsidiary of FX Luxury Realty, began a licensing agreement with EPE, which would allow FX to “use the intellectual property and certain other assets associated with Elvis Presley... in the development of real estate and other entertainment attraction based projects”. The casino was widely touted in the press and FX Real Estate revealed it would feature:

Where the Elvis casino would have been located

• A high-roller and poker room,
• 14 restaurants,
• 130 table games,
• 2,000 slot machines,
• 2,269 hotel rooms

Then, almost as quickly as the plans and agreement between Graceland and FX were announced, details about the casino resort simply stopped appearing in the press. Of course, planning a casino which would live up to The King’s legend is a difficult business, but it seems that FX Real Estate bit off more than they could chew.

Buried away in a recent quarterly report, FX Real Estate announced that as of March 2009, the real estate company “entered into a Termination, Settlement and Release agreement with” EPE. It was revealed that FX had failed “to make the $10 million annual guaranteed minimum royalty payments for 2008” and, because of this, the partnership between FX and Graceland was terminated. The agreement between the two companies meant that, should matters change, FX Real Estate could begin working with EPE again, which meant that for Elvis fans, a glimmer of hope remained for the proposed casino.

Such hopes have unfortunately since been dashed. On Tuesday, FX Real Estate began its “pre-packaged bankruptcy” and lenders have agreed to auction off land owned by the company, including the proposed site for the Elvis casino. It’s believed that the economic crisis, combined with plummeting revenue losses in Las Vegas caused FX Real Estate to default on a $475 million mortgage.

Viva Elvis

One fact remains though: FX Real Estate is controlled by Robert F.X. Sillerman, a New York businessman who owns a chain of different companies. Back in February 2005, Sillerman acquired an 85% interest in Elvis Presley Enterprises, through the company CKX Inc. While CKX has reported revenue losses this year, on the whole it has stayed afloat during the recession and Sillerman suggested that revenues may improve next year, with “the opening of the Elvis-themed Cirque du Soleil show in Las Vegas”, Viva Elvis.

While big shows such as Viva Elvis will no doubt prove a hit with Presley fans, the bankruptcy of FX Real Estate inevitably raises questions about the future of Elvis attractions in Las Vegas. For the foreseeable future, an Elvis themed casino resort (at least one which is created by EPE and FX Real Estate) looks an increasingly unlikely prospect. This has left fans to wonder whether operations such as Chris Davidson’s Elvis-A-Rama will be allowed to open for business again. Already, Russ Howe and Bud Glass have opened a small Elvis museum in the Imperial Palace Hotel in Las Vegas, with the tagline “The King is Back”. It’s been rumoured that if FX Real Estate weren’t in financial trouble, the museum wouldn’t have been given the go ahead.

Arnold agreed that while there’s little chance an Elvis casino will be developed in Las Vegas, “there is hope for smaller projects”. Arnold suggested that “Elvis Presley Enterprises has a huge warehouse filled with Elvis memorabilia” and observed that if the EPE developed a restaurant with “revolving exhibits there that change every twelve months” then fans would regularly return in order to gaze at “a whole new exhibit of Elvis items”. Arnold also suggested that Las Vegas could become a “shrine” for the many Elvis Tribute Artists who “already make a nice living in venues all over the country”. Finally, a rather hi-tech example of how Elvis could be put back on the map would involve “rotoscope/green screen technology” and allow fans to “sing along with Elvis like Celine Dion did on American Idol”, Arnold, who has a clear talent for developing Elvis themed attractions, dubbed the idea the “Virtual Elvis Experience”: The EPE should certainly take note.

The economic downturn has meant that companies such as FX Real Estate have had to put their plans on hold, which could leave room in Las Vegas for a grassroots Elvis attraction, such as Elvis-A-Rama and Howe’s and Glass’ museum. It is of course disheartening to learn that an Elvis casino might not make it onto the LV Boulevard in the next few years, but if this means a new range of Elvis collectors, fans and enthusiasts have the opportunity to pay homage to the King with smaller attractions, then surely that’s a positive thing for not only tourists, but also those who wish to remember, preserve and continue the legacy of Elvis Presley?