The changing of hand in Las Vegas is reaching astonishing levels. The entire Strip seems to have adopted an "Out with the Old and In With the New" policy that is meeting little to no resistance. Older publicly owned casinos are gladly selling off their prime Strip property and cashing in on chips that some investors have held for nearly fifty years. Privately owned companies are doing the buying - and all have distinct and clear visions they want to see realized with these potential rich Strip properties. The latest in these developing acquisitions is the bid to sell the Riviera Casino on the North End of the Strip to Ian Bruce Eichner and Dune Capital Management LP for $30 a share.

William Westerman, the CEO of the Company which owns the Riviera, has already expressed a positive impression of this bid, and particularly has faith in Eichner's capabilities to financially secure the offer and successfully develop the property. Dune Management is already in the process of developing the $2.4 Billion Cosmopolitan Casino Resort on a piece of prime Southern Strip property. Westerman has received another comparable bid, but seems most pleased with Dune Capital's bid, which is much more open to large share holder participation in the auction process.

The Riviera Casino is not the only older property that has recently been sold to a private owner in hopes of enhancing a new plot on the Strip. Take the New Frontier Casino acquisition by the Elad Group for a whopping $1.2 Billion. The purchase came after previous New Frontier owner, Phil Ruffin, had been soliciting for a financier to come in and redevelop the ailing property into a Swiss-themed resort casino. But when the Elad Group came in with its generous offer and plans to build a new high-end resort bearing the Plaza brand from New York, Ruffin jumped on the offer. With the remainder of his adjoining property, Ruffin is currently partnering with Donald Trump on a casino resort of their own.

The demolishment of the Stardust and development of the multi-billion dollar Echelon Place is another example of the rapid shift in luxury focused casinos on the north end of the Strip. Even larger casino companies are giving way to the private owner trend, as Harrah's sells to the Pacific Group and Apollo Management for $90 a share, stacking up a mega $17.1 billion deal for Harrah's current shareholders.