The Three Affiliated Tribes acquired 23 acres along Las Vegas Boulevard, but some tribal citizens believe money could be better spent on the reservation.
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The 35-acre property features 1,470 rooms, 50,000 square feet of casino space, a 1,200-seat theater and 100,000 square feet of convention and meeting space.
The Pinball Hall of Fame was built over its property boundaries, encroaching on the soon-to-be-built Dream Las Vegas casino-resort.
Casino operator Bally’s Corp., which is buying the hotel-casino, would “almost certainly” look to rename the property as Bally’s and likely look to redevelop the property.
The multibillion-dollar sale of The Cosmopolitan marks the latest in a string deals on the Strip between two powerhouse companies and another investment on Las Vegas Boulevard from the CEOs of fast-food chain Panda Express.
The market for new casinos in the famed resort corridor was shaky long before the pandemic hit.
With tourists surging back to Las Vegas, paid parking is returning to yet another casino on the Strip.
Blackstone Group, a large firm with heavy investments on Las Vegas Boulevard, is looking to snap up the Australian casino operator Crown Resorts.