After 42 years, the Lady Luck is closing down the hotel and a large part of the casino. The closure comes as a result of a large capital investment into the property. The property is scheduled to reopen in the next 9 to 12 months after the completion of the construction. No word yet whether the new property will be renamed, after all, this is Las Vegas. Anything older than 20 years is considered an antique. In an unprecendented move in the new corporate america, the Lady Luck has helped place approximately 90% of its work force in new jobs. The Lady Luck opened in 1964 as "Honest Johns". It had a total of five employees. The property changed its name to Lady Luck in 1968. This rennovation to the property will be the first one in 20 years.