New York investors have spent billions on Las Vegas real estate in recent years, including a recently announced a half-billion-dollar deal to purchase the Rio from Caesars Entertainment Corp.
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The Sahara name has returned to Las Vegas Boulevard – along with new hopes for a rejuvenation of the struggling north end of the Strip.
The Fontainebleau, soaring 60-plus stories above Las Vegas Boulevard, went bankrupt 10 years ago on June 9, 2009.
More than a year after buying Crown Resorts’ land on the Las Vegas Strip, Wynn Resorts Ltd. has nixed a deal to buy the whole company.
Despite the improved economy, land sales on the Strip have been sluggish for years, and values are nowhere near what sellers fetched before the economy crashed.