Moulin Rouge Development Corporation Submits Plans for Development

Resurrection of Legendary Site Key to Uptown Revitalization
LAS VEGAS--(Business Wire)--
Today, the Moulin Rouge Development Corporation (MRDC) and
Republic Urban Properties LLC (RUP) announced the submittal of their
plans to the City of Las Vegas to redevelop the historic Moulin Rouge
Hotel and Casino. Together with the Union Park and World Market Center
developments, the new Moulin Rouge is a significant investment in the
revitalization supported by the City of Las Vegas that will once again
bring economic prosperity to the Uptown area.

"This development will create hundreds of quality jobs for area
residents and will be a catalyst for investment and revitalization of
the Uptown Las Vegas area," said MRDC President and CEO Dale Scott.
"We are looking forward to working with the City of Las Vegas, our
strategic partners and the community to create a signature destination
for all to enjoy."

Located on Bonanza Road and I-15, the new Moulin Rouge will
preserve the historic neon sign and tower of the original hotel, and
house a Museum & Cultural Center displaying the history of the
property & more. The new Moulin Rouge Hotel and Casino, which first
opened in 1955 as a showplace for African American performers
including Sammy Davis Jr., and Nat King Cole, will take its place
alongside Vegas' other unique hotel resort destinations. The first
phase of the multi-phase development includes 700 new hotel rooms,
four restaurants, convention and meeting rooms, as well as a pool-side
night club, concert venue, jazz center, and over 50,000 sq. ft. of
retail and spa facilities.

"The revival of the Moulin Rouge is a key element in the City of
Las Vegas' efforts to revitalize the core downtown area," said David
Peter, President and CEO of Washington, DC-based RUP. "In combination
with other existing Uptown developments, the Moulin Rouge will show
tourists and residents alike that there is more to Las Vegas than just
the 'Strip.'"

"Over the last thirty years, Republic Urban and its affiliates
have been dedicated to forming meaningful working partnerships with
minority and disadvantaged business enterprises throughout the U.S.,"
said Republic's Chairman, New York businessman Richard Kramer. "In
fact, we have enjoyed many long-term relationships with our key
partners that have led to multiple ventures spanning from
public-private ventures to purely private ventures as well."

The MRDC-RUP team has submitted applications, supporting drawings
and documentation to the City asking them to review the proposed
Moulin Rouge site plan which includes rezoning parcels for retail and
restaurant uses. The application will be presented to the Planning
Commission where it will be heard as part of a public forum. When
approved, the applications are forwarded to the City Council for final
consideration.

About MRDC:

Moulin Rouge Development Corporation is a minority-owned &
operated real estate development company established in 2002. Its
primary focus is the revitalization of the famous Moulin Rouge Hotel &
Casino in Uptown Las Vegas and enhancing the designated area that
surround the celebrated establishment. Dale Scott, President and CEO
of MRDC, has served in this position since its inception.
www.mrdcnv.com.

About RUP:

Republic Urban Properties LLC represents a privately-owned, fully
integrated, full-service real estate investment, development and
management organization. Headquartered in the Washington D.C. area
since its inception in 1985, Republic concentrates on institutional
grade real estate over all property types. Its principals have
developed millions of square feet of office, retail and mixed-used
development, and thousands of acres of residential planned communities
representing a multi-billion dollar portfolio. www.republic-urban.com.

For RUP
Justin Higgs, 415-225-2012

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