Vici CEO Ed Pitoniak says the company has become “the leading real estate owner” on what “we believe is the most economically productive street in the world, the Las Vegas Strip.”
Casinos & Gaming
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Vici Properties closed its acquisition of MGM Resorts International’s real estate spinoff, giving the buyer several more hotel properties on the Strip.
Bella, who was 13, died after undergoing treatment for gastroenteritis for several weeks.
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.
After years of seeing big plans come and go, the north edge of Las Vegas’ famed casino corridor is showing more momentum than it has in years.
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.
Fontainebleau hotel-casino developer Jeffrey Soffer is back at the helm, moving forward on the journey to complete the north Strip skyscraper.
The late former U.S. Sen. Harry Reid called banks and is credited with keeping MGM’s massive project on the Strip afloat during the Great Recession.
Hard Rock’s purple-hued tower would feature six light beams shooting into the sky as if they were strings on a guitar neck.
A month after developer Jeffrey Soffer unveiled plans to open the long-unfinished Fontainebleau, signage for the resort has appeared near the top of the north Strip tower.
Visitor volume remains below pre-pandemic levels, but investors are betting big that Las Vegas is back on track.
A Marriott spokeswoman confirmed the hotel chain “recently reached an amicable settlement with the hotel’s owner that has resulted in Marriott exiting the project.”
Blackstone has purchased the hotels’ real estate for nearly $3.9 billion, and MGM is leasing the properties back.
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.
Vici Properties and The Blackstone Group are emerging as two of the biggest players on Las Vegas Boulevard.
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