Las Vegas Strip is adding a huge new casino project from a big name
For decades, downtown Las Vegas, the Fremont Street neighborhood, served as a grittier alternative to the glitz and glamor of the mega-resorts of the Las Vegas Strip.
With the street closed to traffic and the huge light and music show known as the Fremont St. Experience, not to mention live music and DJs taking over after dark, the downtown- city of Las Vegas has become a non-stop party.
Downtown casinos, at least until Circa opened during the pandemic, were closer to old-school Las Vegas than Caesars Entertainment-owned mega-resorts (CZR) – Get the report from Caesars Entertainment Inc.MGM Resorts International (MGM) – Get the MGM Resorts International ReportWynn Resorts (WYNN) – Get the report from Wynn Resorts Limited, and new players including Resorts World International. Fremont Street casinos offer lower table limits, louder music, and a party atmosphere not usually offered at Caesars and MGM properties (and certainly not at Wynn resorts).
Now, a downtown casino owner — Tilman Fertitta, owner of the Golden Nugget in the heart of the Fremont St. area — has big plans for land he bought on the Strip.
Will the gold nugget hit the Strip?
Fertita hasn’t said much about his plans for the 6.2 acres of land he spent $270 million on a few weeks ago. That’s a pretty astonishing $43.5 million per acre, a figure that shows the incredible values the band’s prime land is now selling for.
“The land now owned by Fertitta is currently occupied by a Travelodge motel, shopping center and parking lot,” Casino.org reported. “The property is directly across from the CityCenter and several of the most luxurious properties on the Strip, including the Aria and the Cosmopolitan, as well as the non-game Waldorf Astoria and Vdara.”
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Businesses operating on the property have all recently closed.
Now Scott Roeben of Casino.org, who runs the popular Vital Vegas Twitter account, believes the billionaire owner of the NBA’s Houston Rockets has big plans for the site.
Roeben “believes the billionaire plans to make the east side of this section of the Strip as luxurious as the west side.” He said “chances are strong against Fertitta building a nugget of gold on the pitch. ‘Think smarter,'” he added.
While Golden Nugget was once the crown jewel of the Fremont St. area, it’s dated and quite old compared to modern properties from Caesars, MGM, and Wynn. The name, of course, has some nostalgia value, but that may not be enough to compete with the over-the-top concepts operating on the Strip.
The Las Vegas Strip is having a moment
Fertitta’s rumored project is said to be just one of many currently under development on the 4.2-mile Las Vegas Strip. Another casino, the most modest, but still a high-end resort casino, Dream Las Vegas has already broken new ground.
This new property will be on Las Vegas Boulevard near the private aviation terminal at McCarran International Airport. It’s two blocks from the Allegiant Stadium and relatively close to the T-Mobile Arena. The 531-room hotel will open in 2024, the Las Vegas Review-Journal reported.
“Dream Las Vegas will include seven dining and nightlife venues: a rooftop terrace, bar and lounge; three signature restaurants; two additional bar and lounge concepts on the gaming floor level; and a coffee shop at take downstairs.” hotel management reported. “In addition, it will offer 12,000 square feet of private meeting and event space, a spa, fitness center and on-site parking,”
In addition to these, Fontainebleau Las Vegas, a project that has been on an almost 20-year odyssey, looks set to open in late 2023. Additionally, Hard Rock International will take over Mirage from MGM and build a Guitar Hotel. where its famous volcano currently stands.