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Description:
Beautifully engraved certificate from the Las Vegans' Vegas World Corporation issued in 1987. This historic document has an ornate border around it with a vignette of an eagle. This item has the printed signatures of the Company’s President ( Bob Stupak ) and Secretary ( D. W. Williams ) and is over 16 years old.
Certificate Vignette In the 1970s, it was common knowledge that the Las Vegas Strip is a three mile road that starts from Hacienda and ends at the Sahara. Going north past the Sahara started a trek in a crime-ridden world including narcotics, gangs, prostitution and what was called the "seedy side" of Vegas and the "Naked City". Stupak purchased a 1.5 acre parcel of land where Todkill/Bill Hayden Lincoln Mercury dealership stood for $218,000. The address was 2000 Las Vegas Boulevard South. Stupak thought he finally made it to the Strip when some guys stated "You stupid schmuck. You're not on the Strip! The Strip starts at Sahara Avenue." Stupak was approved for a gaming license to operate the Million Dollar Historic Gambling Museum on November 15, 1973, and received his license the following February. The Million Dollar opened on March 31, 1974. He then insured the property through Fireman's Fund American Corporation for $200,000 and added policies for $80,000 in personal property, $5,000 in office equipment, and $100,000 in cash. A sign covering the length of the building which featured a buxom bikini-clad babe straddling the "M" and tossing cash at passerby. The sign read "Bob Stupak's World Famous Million Dollar Historic Gambling Museum World's Biggest Jackpot." Another sign read "See What a $100,000.00 Bill Looks Like." The casino held 15 slot machines, a few antique green felt tables, casino chips, and wall-to-wall gimmicks. Some of the gimmicks included the World's Richest Jackpot slot machine with a pay-out of $250,000, a free look at a rare $100,000 bill (it was fake), the Shower of Money machine which allowed players the opportunity to scoop up as much as $1,000, and visitors could have a free picture of themselves taken in front of the Wall of Money - an estimated 60,000 $1.00 bills. When none of these gimmicks worked to bring the masses, Stupak had a $50,000 jackpot on a nickel slot machine named Million-to-One. The curious did come but more tourists were interested in the nearby massage parlor, the topless bar to the north, and the string of prostitute-infested motels that were on the Boulevard between Sahara and Fremont. On May 21, 1974, at 7:40pm, tourists on the sidewalk noticed smoke rising from the casino. Nine units from the Fire Department appeared. A hook and ladder truck unfolded and firefighters blasted the blaze from above as well as from ground level. In minutes, more than 1,000 people stood outside to watch Stupak's dream burn to the ground. Stupak was present with tears in his eye watching his dream die. Damages ranged from $500,000 to $2 million. Smoke and water damage ruined the first floor. The second floor, where the fire broken out, was gutted. The fire destroyed the fake $100,000 bill. Firefighters concentrated on keeping the flames from burning the genuine money. The rescued money was placed on the hood of a car with Stupak crying over the wallpaper, lost revenue, and the lost potential of his dream. Investigators could not determine how and where the fire started. In September of 1974, Stupak filed insurance claims for $200,000 in losses on the building, $76,700 for equipment, and another $20,000 for cash and office furnishings. The insurance company didn't buy those figures and offered $158,000. Stupak declined and the matter ended up in federal court in 1976 with the insurance company alleging Stupak himself started the fire. Stupak responded with a counterclaim seeking in excess of $1.5 million in damages. He hired attorney Ralph Denton and sued the insurance company, City Attorney Carl Lovell, and Assistant City Attorney Peter Burleigh. Stupak won with a settlement of $300,000. With a loan from E. Parry Thomas and Kenny Sullivan at the Valley Bank, ground breaking for his casino/hotel took place in June of 1978. This would be the first hotel/casino built close to the corner of Sahara Avenue and Las Vegas Boulevard since the Sahara opened in 1952. In more recent times, the only casino to open in close proximity was the Jolley Trolley that has since been replaced with a department store sized souvenir shop. Bob Stupak's three acre Vegas World opened on July 13, 1979, with 102 rooms, with the motto "The Sky's The Limit". Attending the opening was Stupak as well as the Dallas Cowboys Cheerleaders, local TV personality Gus Giuffre, and City Commissioner Ron Lurie. It was advertised that Vegas World cost $7 million to build. In reality, it cost a little more than $3 million. Gaming Control required enough cash to open the resort so Stupak sold his five-carat diamond ring, and his Rolls-Royce. Hours after he opened the resort, he raised the table stakes from $50 to $100 and soon allowed up to $2,000 bets. At the time, Caesars Palace allowed half as much. Stupak announced "Don't come to the big place with the small bankroll. Come to the small place with the big bankroll." Fortunately, when the cage ran short of money, Stupak could take loans from Benny & Jack Binion's ready cash loans. Stupak knew he had to attract gamblers to his resort in such a way that they were diverted from the popular resorts on the Strip. He attracted gamblers with gimmicks, high-stakes games and vacation packages costing $395 to $5,000. Stupak was the first casino operator to use extensive direct mail advertising, heavy with play promotions. Vegas World featured a rooster that played tic-tac-toe. Since the carnival-trained rooster got to pick first, it always won. Other promotions was a glass case filled with real money and a poster of Stupak above it tempting p
| Status: For Sale |
Reference#: lasvegvegwor |
| Condition:
See Description |
Year:
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