Maddox has a one-time opportunity to buy not only the Western site but also other nearby Downtown Project owned properties like Container Park, which he could put together into a really compelling development site for his own destination resort. Sure, the Fremont East district has challenges but a Maddox-led transformative development could be a game changer for the area, and Maddox would not have to deal with the ownership complexities and legal issues that hang over the existing casinos along the Fremont Street Experience.
It may seem far-fetched, but Wynn did it repeatedly first buying the Dunes and its golf course and then buying the Desert Inn and its golf course for what today look like bargain prices. Of course, Wynn then used those properties to develop Bellagio and the Wynn/Encore complex, both of which dramatically changed the way visitors and investors looked at those parts of the Strip. Maddox may want to try and do the same in Downtown LV. After all, with available properties for sale on the Strip almost nonexistent, where is the next generation of development going to go?
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