Thursday, November 20, 2003
Copyright © Las Vegas Review-Journal

Cost of next Coast Casinos endeavor at $350 million

The cost of Michael Gaughan's planned South Coast has jumped $25 million, the locals casino operator said Wednesday.

The South Coast, at the southwest corner of the intersection of Silverado Ranch Road and Las Vegas Boulevard, will cost about $350 million, he said.

Most of the additional expense is tied to a $60 million equestrian center and 100,000 square feet of exhibit and meeting space Coast Casinos plans for the project, Gaughan said.

"The equestrian arena won't be very fancy, compared with (the recently opened Orleans Arena)," Gaughan said. "It will have a dirt floor, and plastic seats."

Groundbreaking for the hotel-casino, originally scheduled to take place by the end of this year, will now likely take place in March or April.

"It took longer to draw plans and go through the design process than we'd thought," he said, noting that he hopes to submit South Coast plans to county officials by January. "We hope to open late in 2005."

For now, South Coast is the most expensive locals casino project in the valley. Coast's biggest competitor, Station Casinos, is soon expected to announce it will spend at least $400 million to build Red Rock Station in northwest Las Vegas.

Gaughan said his project's plans call for a 240-foot-high hotel tower, about double the height of his Suncoast.