Moulin Rouge Las Vegas Sold to Australian Group

Historic Las Vegas casino Moulin Rouge has been sold to an Australian betting company, who'll likely look to develop the site moving forward.

The property was purchased BBC Capital out of Australia, who's working with RAH Capital to help hold the company's interest in the site. RAH has previously purchased 11.3 acres of land adjacent to the casino, for which they paid $3.1 million while also taking responsibility for $2 million in liens tied to removing material from the site.

The Moulin Rouge was a historic casino, having been the first racially desegregated casino in Las Vegas. The property also paved the way for other casinos on the strip allowing groups of all races to gamble together. Over the years though, the property has become less popular, and the casino went into receivership in 2013. Despite that, the Moulin Rouge retained its gaming license and is primed for a comeback.

It'll certainly be interesting to see what BBC Capital does with the property and whether they can restore the sheen to an iconic American casino property.