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Opened on July 2, 1971 with the owners including local businessmen: Sam Boyd, Frank Scott, Howard Cannon and Jackie Gaughan. Its original name was Union Plaza, in reference to the Union Pacific railroad station that originally stood at the site.

Before the discontinuation of the Desert Wind train route on May 10, 1997, Amtrak made its Las Vegas, Nevada station near the Plaza. The station and ticket windows were directly connected to the hotel. It was the only train station in the United States located in a casino.
Barrick Gaming Corporation acquired the Plaza from Jackie Gaughan and in late 2005 later ceded operation to majority owner Tamares Group. On July 1, 2005 after Tamares took control of the Plaza mayor Oscar Goodman made his opinions clear in an article in the Las Vegas Press. He said If I had my druthers, I would like to have somebody in place to discuss imploding the Plaza. [1] He was referring to his desire to see the Plaza replaced with new construction that would create a scenic entrance to Union Park.

During its ownership by Barrick Gaming Corporation, DW Barrick's good friend, Larry Manetti (Orville "Rick" Wright, of Magnum, PI fame) hosted a celebrity brunch every Sunday, featuring such guests as Pat Morita and Steve Rossi. [Citation needed] He also owned Manetti's in The Plaza. When Barrick sold its interest in the hotel to the Tamares Group, Manetti closed his restaurant and severed his relationship with the hotel. The Plaza's famed glass-domed Center Stage Restaurant is now a second edition of the locally famed Firefly Tapas Kitchen and Lounge.
The hotel portion is currently set to close on November 11, 2010 for renovations that are estimated to last 18 months. The closure is expected to cause the loss of 400 jobs in the hotel. [2]

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