Tuesday, May 29, 2007

Bonanza - World's Largest Gift Shop

On the northwest corner of Las Vegas Boulevard and Sahara is the most famous gift and souvenir shop in Las Vegas...


It is diagonally across from the Sahara Hotel, and two or three blocks from The Stratosphere. Most souvenir shops in Las Vegas compete on price, but Bonanza competes by being the largest.

Bonanza, much like the Gamblers General Store is an attraction in itself. But how much longer will it last?

While I have not heard any news concerning Bonanza specifically, the real estate itself has got to be worth a few hundred million.

The entire area is being developed and redeveloped with tall buildings; many of them are upper end condominium towers. This particular intersection (Sahara and The Strip) is particularly ready for redevelopment.

Much of the property of Bonanza is a parking lot. It strikes me as similar to The Frontier which had much of its land in the form of ground level parking. Land which recently sold for 33 million dollars an acre.

I would be very surprised if no one was right now actively trying to buy the land on which the World's Largest Gift Shop sits.

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