A museum dedicated to the flamboyant pianist Liberace is being forced to close due to a downturn in the economy and fewer people walking through the doors.

The Liberace Museum in Las Vegas opened April 15, 1979 and will close Oct. 17.

"This is a pretty straightforward business decision that's basically been a long time coming," Liberace Foundation Board of Directors Chair Jeffrey Koep told the Las Vegas Sun newspaper.

He said the decision was "very difficult and sad" considering what Liberace meant to the history of the area.

The museum, which was opened by Liberace himself, consists of two buildings, one that has his pianos and cars, and the second housing his costumes and jewelry, a recreation of his bedroom and an awards gallery. Profits from the museum funded the Liberace Foundation for the Performing and Creative Arts.