Makeover of Lady Luck casino in downtown Las Vegas completed

Los Angeles landlord and developer CIM Group has completed its elaborate makeover of the Lady Luck, a once-popular Las Vegas hotel and casino that opened in 1964 and closed in 2006.

After an estimated $100-million renovation, the complex at 3rd Street and East Ogden Avenue is now called the Downtown Grand Las Vegas and considered the centerpiece of the city’s Downtown3rd Entertainment District.

The Downtown Grand has 634 rooms in two towers -- the 18-story Casino Tower and 25-story Grand Tower; 25,000 square feet of gaming space plus bars and restaurants.

PHOTOS: The costliest U.S. bank failures

In contrast to typical casinos that are designed to keep visitors indoors, the property’s numerous restaurants and shops along 3rd Street are intended to create an inviting pedestrian experience and encourage people to walk nearby streets, CIM said.

The project is the first in Las Vegas for CIM, which specializes in urban development.

The company recently received city approval for another Sin City project, a retail center on property surrounding the Mob Museum, which is across Stewart Avenue from the Downtown Grand.

CIM leased the hotel’s casino to gaming license holder Fifth Street Gaming.

ALSO:

AEG reveals new details of Las Vegas sports and entertainment arena

Construction on $80-million El Segundo shopping complex underway

Prime downtown L.A. development site to be sold

roger.vincent@latimes.com

Twitter: @rogervincent