Built by impresario Earl Carroll and designed by architect George Keister,[1] it opened on February 25, 1922,[2] and was highly successful for a number of years until it was demolished and rebuilt on a lavish scale.

However, the facility's operating costs proved astronomical and it went into foreclosure in early 1932 after which it was acquired by producer Florenz Ziegfeld who renamed it the Casino Theatre.

[3] In 1934, after being acquired by a business consortium consisting of Louis F. Blumenthal, Charles H. Haring and Jack Shapiro the theater was refurbished, and on December 30, 1934 reopened as the French Casino night club.

Soon after, the Broadway producer Billy Rose acquired the building and renamed it Casa Manana, after the previous incarnation at the Frontier Centennial in Fort Worth, Texas.

Between the fourth and fifth floors, a big sign on the facade said "Earl Carroll Theatre" in capital letters.