The management team headed by Bill Paulos is expected to receive state approval this week to operate the newly named Rampart Casino in Summerlin.
Paulos’ Millennium Management Group has been running the casino, formerly called the Regent, on an interim basis. The deal with new owner Hotspur Resorts calls for a 10-year lease agreement, with Rampart Resort Management operating the casino. Paulos’ group has pledged to pump $10 million into the gaming resort.
“We’re extremely excited to operate the casino at Summerlin,’’ Paulos told GamingToday. “Our focus is totally on the local market and we believe that we have a very good plan for operating the casino successfully.’’
To finalize the arrangement with the Gaming Control Board on Wednesday, Millennium added a fourth partner, Robert Mendenhall, owner of Las Vegas Paving. Paulos’ group and Mendenhall are also collaborating on a proposed casino at Craig and Losee roads in North Las Vegas.
The bankrupt Summerlin resort is being upgraded with a raised floor, new carpeting and a layout of three mini-pits. Three restaurants ”” a coffee shop, a buffet and a specialty restaurant ”” are being constructed just off the casino.
“It will be a more friendly environment,’’ said spokesman Tom Willer. “There’s a 100 percent commitment to locals.’’ JW Marriott operates the hotel portion of the $276 million resort, which Hotspur picked up for $80 million at auction last year.
Paulos’ Millennium partners are Bill Wortman and Guy Hillyer, another former Circus Circus and Primadonna executive who served a stint on the Gaming Control Board. The Millennium group manages Detroit’s $147 million Greektown casino, which is owned by the Sault Ste. Marie (Mich.) Tribe of Chippewa Indians.