By 1992, 80 percent of the Las Vegas casino market was on the Las Vegas Strip. Downtown Las Vegas hotels and casinos sought to build an attraction that would lure more visitors to their businesses. After Paramount Pictures head Stanley Jaffe refused to approve a proposal to build a life-sized Starship "Enterprise", the Fremont Street Experience was chosen as the project. FSE, LLC is a cooperative venture, owned and operated by a group of downtown hotel/casino companies (comprising eight hotel/casinos) as a separate corporation, responsible for financing, developing, and managing the Fremont Street Experience.