More than 16 years after the New Frontier was toppled, the Strip property hasn’t seen a new project take shape.
Casinos & Gaming
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Las Vegas’ long-delayed north Strip resort has seen owners come, go and, in one case, return.
Vici Properties generated $2.6 billion in revenue last year and said about 45 percent of the haul stemmed from its properties on Las Vegas Boulevard.
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.
A long-shuttered motel site on the Las Vegas Strip is getting a new owner: a North Dakota tribal nation that owns nearly 22 acres along the south edge of the famed resort corridor.
Clark County cleared the way for a guitar-shaped hotel tower to be developed at The Mirage, a project that would spell the end of the resort’s iconic volcano attraction.
The developer said he owes approximately $25 million to $30 million for work on the resort, and that construction “will restart once the terms of the financing are finalized.”
The Clark County Building Department issued a demolition permit last week for the domed, Roman-themed structure.
Brett Torino and Paul Kanavos have already teamed up to build retail projects in the heart of the casino corridor.
Hard Rock International is looking to build a 600-room high-rise along Las Vegas Boulevard.
Vici Properties, the biggest property owner on the Strip, generated $2.6 billion of revenue last year, up 72 percent from 2021.
MGM Resorts International announced that its nearly $1.1 billion cash sale of The Mirage’s operations to Hard Rock International is complete
Vici Properties reached a deal to purchase financial giant Blackstone’s 49.9 percent stake in the properties, which are leased to casino giant MGM Resorts International.
Workers recently tore down a 1960s-era Travelodge on Las Vegas Boulevard as the Houston billionaire pushes ahead with plans for a towering upscale resort.
The Houston billionaire acquired 6.9 million shares in the Las Vegas-based casino operator, comprising a 6.1 percent ownership stake.