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.
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Station Casinos has loaded up on more land in Las Vegas, closing a big purchase just a few days after it unveiled plans to demolish three hotels in Southern Nevada.
Dream Las Vegas, on the south edge of the Strip, will feature dining and nightlife venues, 12,000 square feet of meeting and event space and a 20,000-square-foot casino.
Developers of Dream Las Vegas are scheduled to hold a ceremonial groundbreaking Friday for the 531-room casino resort.
According to Las Vegas city records last year, the one-story project will span more than 21,000 square feet and sit on a 5-acre plot of land.
Dream Las Vegas is estimated to cost around $550 million and slated to open in late 2024.