The towering north Strip resort is set to open this year, following prior stops and starts.
Business Columns
Las Vegas’ famed casino corridor is a highly lucrative and competitive tourism market, where massive resorts offer extensive and ever-changing menus of amenities.
One side of the street has massive resorts, but the other side has low-slung motel buildings, a boarded-up tavern and a never-finished Ferris wheel project.
The north Strip isn’t overrun with tourists, and it still has big pieces of land. But the area has gained momentum.
Brett Torino and Paul Kanavos have already teamed up to build retail projects in the heart of the casino corridor.
Ten years ago, Genting Group bought the Resorts World Las Vegas site at a bargain price.
Dreamscape Companies recently announced that it raised $850 million in capital and is launching a real estate investment trust.
Some casino operators touted the benefits of owning their properties or stated they aren’t looking to sell them and rent them back.
A state Senate bill seeks to raise the transfer tax to fund assistance for “very low income housing,” supportive housing and supportive services.
The Fontainebleau’s path to opening has received a major boost from Vici Properties and Blackstone.
Vici Properties, which owns The Mirage’s real estate, entered a lease with Hard Rock International that calls for initial annual rent of $90 million.
The locals-focused casino chain has outlined plans to develop more projects and sell some properties.
The shuttered White Sands is being offered for sale through auction site Ten-X, with a starting bid of $1.5 million.
Redfin CEO Glenn Kelman said the home-flipping sector it entered “is a staggering amount of money and risk for a now-uncertain benefit.”
An industrial park in North Las Vegas sold last month for more than $140 million, after construction finished in September.
![Fontainebleau signs ‘once in a generation talent’ to residency deal](https://www.reviewjournal.com/wp-content/uploads/2024/06/19296876_web1_EDC-NIGHT-1_051724_002_548767.jpg?h=80)
![Las Vegas ranks among most expensive places in the U.S. to visit: study](https://www.reviewjournal.com/wp-content/uploads/2024/06/19297624_web1_VEGAS-VISITORS-MAR26-23_032323kc_005.jpg?h=80)
![‘Mysterious monolith’ found on trail overlooking Las Vegas](https://www.reviewjournal.com/wp-content/uploads/2024/06/19297273_web1_monolithtrail_01c7fd.jpg?h=80)
![Real Water to pay $3B in lawsuit, jury rules, after liver failure outbreak](https://www.reviewjournal.com/wp-content/uploads/2024/06/19297083_web1_realwaterlogo_b6a930.jpg?h=80)
![Las Vegas magician’s rates skyrocket after Magic Castle dustup](https://www.reviewjournal.com/wp-content/uploads/2024/06/19294820_web1_KATS-MURRAY-SAWCHUCK-MAR28-24-MC-014_70e395.jpg?h=80)