El Cortez Prepares for 85th Anniversary with $20 Million Expansion in Downtown Las Vegas

El Cortez opened in 1941 and remains at its original Downtown Las Vegas location more than eight decades later. The property, the only operating casino listed on the National Register of Historic Places, is set to mark its 85th anniversary on Nov. 7. A $20 million expansion will introduce a high-limit lounge, two bars and a dual-concept restaurant ahead of the milestone.

Since Kenny Epstein purchased El Cortez from Jackie Gaughan in 2008, the property has seen steady reinvestment. Gaughan owned it for 45 years and lived on the top floor. That residence is preserved as the Jackie Gaughan Suite, and other historic elements such as the poker room’s original stained-glass ceiling remain in place.

The new restaurant operates as Siegel’s 1941 for breakfast and lunch, then transitions at 5 p.m. into Alex Prime, an upscale steakhouse named for Epstein’s daughter. The menu features USDA Prime cuts, slow-roasted prime rib, fresh seafood, pasta and premium desserts. The dining room seats more than 150 guests and includes emerald-green banquettes, cognac leather seating and coffered ceilings.

Property Evolution and Guest Changes

Epstein first visited Las Vegas in 1960. He credits the Fremont Street Experience and the Downtown Project led by Tony Hsieh for much of the area’s improvement. Guest demographics have shifted markedly: the average age has fallen from 55 when Epstein took over to 34 today. Service standards have stayed constant, with the guest experience remaining central to operations.

Anniversary events include a drone show tracing the property’s history, a tournament, drawings, promotions and cake for all guests. Epstein described the restaurant opening as a fitting complement to the milestone. According to a feature in Casino Player Magazine, he intends to continue balancing historic preservation with daily improvements to stay competitive.

Path Forward for Historic Assets

The expansion and anniversary activities illustrate one independent operator’s method of channeling legacy into current market demands without erasing the elements that define its identity. El Cortez has added modern amenities while retaining its 1941 sign and core character. Epstein’s stated vision is to keep improving the property in line with guest expectations.

Reporting: Casino Player Magazine

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