The Stardust was scheduled to open in April 1955. However, a request for a gaming license was denied two months prior by the tax commission, which cited a policy that applications not be considered until a casino is one-third completed. Early on, the Stardust had more than 1,000 stockholders. Sale of the stock was banned in California in May 1955, as Cornero and his associates had been selling shares without a state permit. The Securities and Exchange Commission also alleged that Cornero had failed to file statements regarding Stardust stock sales.