The newspaper's John L. Smith wrote that the Dunes had lost its "classy resort" reputation and had become "a dump by Strip standards" despite its name recognition and prime location on the central Strip. The Dunes failed to stay competitive against new megaresorts opening on the Strip, including The Mirage in 1989, and the Excalibur a year later. During 1990, the resort was losing $500,000 monthly. Wynn's company, since renamed as Mirage Resorts, agreed to purchase the Dunes in October 1992. It was sold the following month for $75 million. At the time, the property was losing $2 million a month. Gaming executive Richard Goeglein led a team which helped operate the Dunes in the months leading up to its closure. Closure and demolition The Dunes closed on January 26, 1993. Wynn said: "It's becoming in death a much better place than it was in life. This thing about melancholy in its passing is sorta strange. No one felt that while it [the Dunes] was laying there, terminally ill. It's been laying there on life support systems for many years". At the time of its closing, the Dunes employed more than 1,200 people. Employees held reunions each year following the closure. An on-site sale of the Dunes inventory, including light fixtures and carpeting, began in March 1993. Demolition started on September 16, 1993. A four-alarm fire began on-site that afternoon, after workers accidentally ran over an electrical outlet in a bulldozer. The fire affected a two-story hotel building and eventually spread across the property. More than 200 firefighters responded, and six blocks of the Strip were closed off for more than four hours until the fire was contained. The original North Tower was demolished on the night of October 27, 1993, one day after the opening of Wynn's new Strip resort Treasure Island, located about a mile north. The tower was imploded with great fanfare in an event emceed by Wynn that incorporated his new resort; on his command, a faux pirate ship at Treasure Island shot its cannon several times, simulating the Dunes' destruction by cannonballs as the implosion began. The tower was brought down around 10:10 p.m., following a six-minute fireworks show. The $1.5 million demolition event attracted 200,000 spectators. The Dunes was the first Las Vegas resort to be imploded, and numerous others would follow suit into the next decade. The tower's implosion was handled by Controlled