The Fremont Hotel opened May 18, 1956, as downtown Las Vegas' first high-rise hotel and Nevada's tallest building at fifteen stories. Sixty-nine years later, it's still operating profitably under Boyd Gaming ownership. Here's why it succeeded where billion-dollar Strip mega-resorts are failing.
The Fremont revolutionized downtown Vegas when it opened with 155 rooms for $6 million. Architect Wayne McAllister, who also designed El Rancho Vegas, the original Sands, Desert Inn, and El Cortez, created the first vertical hotel design downtown. Before the Fremont, downtown properties were low-rise motor courts. The Fremont proved you could build up instead of out, bringing Strip amenities like pools and showrooms to downtown for the first time. Author Alan Hess wrote it "broke the dominance of the Old West style" with strictly modern design that distinguished large horizontal public spaces from modular vertical room units.
The Fremont invited Channel 13, local ABC affiliate, to broadcast from premises in 1956. Announcer Bob Bailey, a local African American businessman, couldn't enter through front door due to segregation. He mentioned on air the Fremont was making his life difficult. Despite owner complaints, Bailey won right to use front door, making Fremont one of first properties to integrate.
In 1963, the property expanded with fourteen-story Ogden Tower and one of city's first vertical parking garages, revolutionary urban planning that maximized downtown footprint. Total rooms exceeded 400. In 1974, Allen Glick's Argent Corporation purchased the Fremont along with Stardust and Tropicana. Argent was front for organized crime families in Chicago, Kansas City, and Milwaukee. FBI investigations exposed skimming operations diverting millions before reaching count rooms. Nevada Gaming Commission fined Argent $500,000 in 1979. Nick Pileggi and Martin Scorsese immortalized this era in Casino. In 1976, Argent expanded Fremont casino for $4 million using skimmed money to maintain appearances.
Federal prosecutors and state gaming officials forced Glick to sell. New owners couldn't make it work. Property looked doomed. In 1985, Boyd Gaming purchased both Fremont and Stardust for $165 million. Sam Boyd understood downtown Vegas. His formula: maintain property, offer fair value, serve locals and tourists, keep profitable. Boyd Gaming has owned Fremont for 42 years with no ownership changes since, extremely rare in modern Vegas.
Today the Fremont has 32,000 square foot casino with 28 table games and 900+ slot machines. Restaurants include Second Street Grill (Pacific Rim), Paradise Cafe (tropical), and only Tony Roma's in Nevada. Food court offers affordable quick options. Rooms are budget to mid-tier. Not Wynn luxury but clean, maintained, fair prices. Most Vegas visitors want exactly this.
In 1995, Fremont joined consortium of downtown operators in $70 million public-private partnership creating Fremont Street Experience. Five blocks converted to pedestrian mall with massive LED canopy. Viva Vision light shows began December 14, 1995. This reversed decades of downtown decline, boosting pedestrian access and dramatically increasing visitation with free nightly entertainment. Saved downtown Vegas.
Boyd Gaming owns three connected downtown properties: Fremont, California Hotel, Main Street Station. Bridges connect them so guests walk between without going outside, creating mini-resort experience. Boyd captures more revenue per customer without one massive casino. The Fremont caters to locals as much as tourists. Boyd Rewards loyalty program works across all properties. Locals earn points at Fremont, use at other Boyd casinos. Downtown locals love fair gambling odds, reasonable drink prices, comfortable atmosphere without Strip pretension. While MGM and Caesars abandoned locals for high-rollers, Boyd never forgot locals are bread and butter.
The Fremont isn't flashy but it's consistently maintained. Rooms updated regularly. Casino floor clean. Everything works. Compare to Excalibur (musty smells, stained carpets) or Harrah's (12 years since renovation). Boyd invests enough to keep functional without overspending on unnecessary luxury. The balance most operators can't find.
The Fremont survived 69 years profitably. Survived mob ownership, Argent scandal, downtown decline in 80s-90s, 2008 recession, pandemic. Why? Doesn't try to be what it's not. Budget to mid-tier downtown casino offering fair value. That model works. $6 million cost in 1956 generated returns for seven decades. Successful investment. Compare to Fontainebleau: $3.7B built, opened December 2023, losing $400K/day, bankruptcy likely. Or Resorts World: $4.3B, opened June 2021, EBITDA down 75% to $10M. The Fremont proves you don't need billions to succeed. Need good location, fair pricing, consistent maintenance, competent management.
The original Vegas casino that still works. 69 years and counting.
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