How Steve Wynn Blew Up Old Vegas to Build the New One
8 min read
If the Flamingo story is how Vegas began, this is the story of how it became what you see today. And it really comes down to one man with a volcano.
When the Mirage opened in 1989, it did not just add a hotel. It ended one era of Vegas and started another.
The volcano that changed everything
Steve Wynn opened the Mirage in late 1989, and it was unlike anything the Strip had seen. A tropical theme, a fake volcano erupting out front for free every night, white tigers, a giant aquarium behind the front desk. It was a spectacle you did not have to gamble to enjoy.
The bet was huge and the financing was aggressive, built on high yield junk bonds. Plenty of people thought it could not make its nut. It did, and then some, and every operator on the Strip realized the rules had just changed.
The building boom
The Mirage kicked off a decade of one-upmanship. The Strip raced to build bigger and more themed: a pyramid, a pirate battle, a castle, a fake skyline. Vegas stopped being a gambling town with shows attached and became a full destination for families, conventions, and people who just wanted to look around.
The money behind it changed too. The mob skim era was over. This was corporate Vegas, public companies, Wall Street financing, and quarterly earnings.
Blowing up the past
To build the new Vegas, Wynn literally blew up the old one. He imploded the Dunes in 1993 to clear the way for the Bellagio, which opened in 1998 with the famous fountains. The implosions became events in themselves, broadcast on the news.
The Sands came down in 1996. The Stardust followed in 2007. One by one the classic mob-era houses were turned into rubble and replaced with glass towers. It was the end of old Vegas, and most people cheered while it happened.
Frequently asked
Is the Mirage volcano still there?
No. The Mirage closed in 2024 and the property is being redeveloped, so the volcano era has ended too. Vegas never stops tearing down and rebuilding.
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