Southern Nevada spent the past year grappling with the pandemic but also saw a burst of lucrative casino deals.
Real Estate Insider
Eli Segall’s Real Estate Insider column appears Saturdays in the Business section.
esegall@reviewjournal.com … @eli_segall on Twitter. 702-383-0342
Hard Rock’s purple-hued tower would feature six light beams shooting into the sky as if they were strings on a guitar neck.
Visitor volume remains below pre-pandemic levels, but investors are betting big that Las Vegas is back on track.
Florida developer Jeffrey Soffer aims to open the towering resort in 2023, after initially breaking ground in 2007.
The company owns six undeveloped sites and likes the idea of “essentially doubling the size of our current operating platform here in Las Vegas.”
Locals have long predicted better days ahead for the north edge of the Strip, but a burst of news shows the area is still in flux.
Real estate pros have long figured the Durango site would be the first among Station’s desert parcels to get developed.
The casino chain has reached deals since 2019 to lease Bellagio, MGM Grand, Mandalay Bay, Aria, Vdara, and, as announced this week, The Cosmopolitan of Las Vegas.
Vici Properties and The Blackstone Group are emerging as two of the biggest players on Las Vegas Boulevard.
After three Las Vegas casino-resorts debuted during the pandemic, no others are officially scheduled to open anytime soon.
Coming out of the Great Recession, various plans to build massive hotels, complete an unfinished skyscraper, and construct an arena on the north Strip have produced hardly any visible results.
Executives said on a conference call with analysts that Station plans to develop a casino on its 71-acre parcel near Ikea.
The north Strip megaresort will feature 3,500 rooms, more than 40 food and beverage spots, 250,000 square feet of meeting space, and 117,000 square feet of casino space.
Blackstone Group, a large firm with heavy investments on Las Vegas Boulevard, is looking to snap up the Australian casino operator Crown Resorts.
The SLS Las Vegas opened with much fanfare in 2014 but quickly spiraled downward. Now, a few miles away, Las Vegas’ newest renovated resort figures it’s starting out on stronger footing.