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.
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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.”
A tribal nation that acquired most of the Route 91 site is buying the former White Sands Motel for more than $10 million.
Fertitta, who has a new Las Vegas resort in the works, acquired a 30-acre oceanfront property.
Dream Las Vegas is estimated to cost around $550 million and slated to open in late 2024.
The towering north Strip hotel-casino will feature a pillarless ballroom spanning more than 105,000 square feet, one of the largest in Las Vegas.
Arthur “AJ” Lewis of Active Capital Holdings said his group is providing just over $4.7 billion for former NBA player Jackie Robinson’s project.
UNLV’s Center for Business and Economic Research predicts that visitor volume in Southern Nevada will climb 57 percent this year and 13.2 percent next year, following its 55.2 percent drop in 2020.
The long-planned $4.3 billion property could bring more tourists to the north Strip and a surge of visitors overall to Las Vegas.
After a year of layoffs and financial losses, Allegiant Air’s parent company eked out a profit in the first quarter.