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Casinos & Gaming

Strip parcel has new owner, but future hazy

The empty Strip land parcel that once housed the New Frontier has a new lease on life, but its future is still unclear. Australian billionaire James Packer said he acquired controlling interest in the nearly 35-acre site and will form a yet-to-be-named company to build a hotel-casino on the land.

Australian billionaire buys New Frontier site

Australian billionaire James Packer said he has acquired controlling interest in a nearly 35-acre Strip land parcel and will form a company to build a hotel-casino on the site with former Wynn Las Vegas President Andrew Pascal and investment firm Oaktree Capital Management.

Billionaire Packer linked to key Strip parcel

The long dormant site that once housed the New Frontier and was subject of the Strip’s most expensive real estate could become active once again. Bloomberg News Service reported Thursday that Australian billionaire James Packer had acquired a portion of the loan covering the 34.5-acre site and would consider building a hotel-casino on the land.