Demolition at some point, but probably 2+ years away. When MGM Grand acquired Mirage Resorts (and with it, the Boardwalk property), they announced they planned a new analysis of how to use the property. They are hiring design firm to come up with a concept that will appeal to Gen-X types (sort of Hard Rock & Rio audience for the Strip.) I believe Steve Wynn had a different concept in mind for the property -- something to complement the Bellagio, I think -- but that is scrapped now that MGM owns it.

The near-term building outlook is to take a breather to absorb all the recent new hotels & room additions, after the Aladdin opens. There will be a few new places off-strip, butthe Strip's next building wave (replacing the Desert Inn, Frontier, Boardwalk, etc.) will take a while.