More than 16 years after the New Frontier was toppled, the Strip property hasn’t seen a new project take shape.
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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.
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.
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.
The permits were issued the same day the Clark County Commission approved Fertitta’s plans for a towering hotel-casino on Las Vegas Boulevard.
Jackie Robinson unveiled a new funding Wednesday for his arena and hotel project on the north Strip, which has been on the drawing board for nearly nine years.
Clark County commissioners gave the green light for a 43-story, 2,420-room project at the southeast corner of Las Vegas Boulevard and Harmon Avenue.
The towering hotel project calls for restaurants, convention space, a spa, pools, wedding chapel, an auto showroom and more.
The Pinball Hall of Fame was built over its property boundaries, encroaching on the soon-to-be-built Dream Las Vegas casino-resort.
The $5.65 billion deal was also the latest high-priced transaction in Las Vegas that did not produce a dollar of real estate transfer taxes.
Dream Las Vegas is estimated to cost around $550 million and slated to open in late 2024.