Chilean Billionaire Backs Out of Las Vegas Strip Property Deal with LVCVA

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Review Journal

What is that vacant lot on the Las Vegas Strip?

While the Las Vegas Strip is packed with resort-casinos and activity, there's still large vacant lots on the famous thoroughfare. Some of those vacant lots are projects in the works, while others may be held for future development. Still others are spots for concerts and major events. Here's a list of the empty lots along Las Vegas Boulevard and…

Land-based ・ 13 March 2024

The Nevada Independent

Indy Gaming: After $600M renovation, what’s next for Las Vegas Convention Center?

LVCVA CEO Steve Hill said the facility now has more than 15.4 million square feet of meeting space -enough to attract additional events. Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to…

Land-based ・ 10 January 2024

Henry Herald

Las Vegas Strip Gets a Dangerous Warning

Covid, M-Pox, RSV, and other illnesses could not keep the Las Vegas Strip Resort Casinos down, but a new development might be a major problem. While the covid pandemic closed the Las Vegas Strip, that closure almost seemed to create an opportunity for major resort casino operators to make changes. MGM Resorts International (MGM) - Get Free…

Land-based ・ 16 January 2023

Yogonet

Chilean casino company pulls out of deal to buy Las Vegas Strip land amid rise in interest rates

CB Investment, a company founded by Chilean businessman Claudio Fischer that was planning to develop a hotel-casino on the Strip near the Las Vegas Convention Center's West Hall, has pulled out of the $120 million deal. On Tuesday, Las Vegas Convention and Visitors Authority (LVCVA) CEO Steve Hill said the tourism agency's sale of 10 acres at the…

Land-based ・ 09 January 2023

Wild Casino

$5,000 Welcome Bonus

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The Street

Big Las Vegas Strip Casino Deal Cancelled

Nothing happens quickly or easily on the Las Vegas Strip. If you decide to build or buy on the Strip, you have elected to compete with the giants of the casino business -- Caesars Entertainment (CZR) - Get Free Report, MGM Resorts International (MGM) - Get Free Report, and Wynn Resorts (WYNN) - Get Free Report -- not to mention some of the huge…

Land-based ・ 04 January 2023

CoStar

Changes in the Cards for Iconic Las Vegas Strip After Big Hotel-Casino Deals

In the past two years, there has been a flurry of hotel investment activity in the Las Vegas market, with nearly 10 transactions achieving sale prices exceeding $1 billion. Total hotel sales volume for the past two years in Las Vegas is nearly $16.8 billion, representing 17% of the total U.S. hotel sales volume during that time frame. Las Vegas…

Land-based ・ 28 November 2022

The Street

Las Vegas Strip Adds Another Huge Casino Project

New hotel casino projects along the Las Vegas Strip continue to proliferate following the slowdown during the covid pandemic. Locals and visitors have gotten used to seeing cranes and construction equipment in the area, and they can expect to see a lot more in the coming months. In recent years, the 4.2 miles of the Strip had been dominated by…

Land-based ・ 14 November 2022

Review Journal

Tilman Fertitta gets approval for new hotel-casino on Las Vegas Strip

Clark County commissioners gave billionaire Tilman Fertitta the green light on Wednesday to develop a towering hotel-casino on the Strip. The commission approved Fertitta's plans for a 43-story, 2420-room project in the tourist-choked casino corridor. The upscale resort, at the southeast corner of Las Vegas Boulevard and Harmon Avenue, would…

Land-based ・ 21 October 2022

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Review Journal

Station Casinos buys 126 acres south of Las Vegas Strip for $172M

Station Casinos has loaded up on more land in Las Vegas, completing a big purchase just days after it unveiled plans to demolish three shuttered hotels in Southern Nevada. The locals-focused casino operator acquired roughly 126 acres at the southwest corner of Las Vegas Boulevard and Cactus Avenue for $172.4 million. The sale, by developer Larry…

Land-based ・ 21 July 2022

The Street

Prime Las Vegas Strip Property Markets For Sale

The Las Vegas Strip always seems to be evolving with perpetual development. Whether it's an upscale hotel and casino development, new retail or restaurant construction or building a residential condominium complex, projects are planned for up and down The Strip. One of the most anticipated projects since 2005 has been the Fontainebleau Las Vegas…

Land-based ・ 16 May 2022

Review Journal

Future of the Las Vegas Strip’s north edge in flux

The north edge of the Strip, for years a sleepy stretch of Las Vegas Boulevard, got a big boost of momentum this year. Resorts World Las Vegas debuted in June to an estimated crowd of 20000 visitors and 5000 VIPs. Huge crowds waited outside to get in on opening night, and the 3500-room casino resort generated nearly $15 million in revenue during…

Land-based ・ 20 October 2021

Mooresville Tribune

Latin casino operator buys Vegas Strip parcel for $120M

LAS VEGAS (AP) - A Chilean businessman and co-founder of the largest casino resort operator in Latin America has reached an agreement to buy 10 acres (4 hectares) of Strip-front land that formerly housed the Riviera from the Las Vegas Convention and Visitors Authority for $120 million. The authority's board unanimously approved the sale Tuesday to…

Travel ・ 18 October 2021

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Gambling News

Part of the Former Riviera Hotel-Casino Site in Vegas to Get New Life

For more than five decades, the Riviera Hotel-Casino sat proudly among the casinos and resorts dotting the Las Vegas landscape. It was one of the originals to be included on the Las Vegas Boulevard row of gambling properties, but came to an end in 2015. The Las Vegas Convention and Visitors Authority (LVCVA) bought it that year, converting part of…

Covid ・ 13 October 2021

Travel Weekly

Latin casino operator buys Vegas Strip parcel for $120M: Travel Weekly

The authority's board unanimously approved the sale Tuesday to CB Investment SpA owned by Claudio Fischer. The deal is expected to close in June. Fischer co-founded Sun Dreams, which owns 19 casino properties in Chile, Argentina, Panama, Colombia and Peru. He hasn't disclosed any specific plans for the development of the land at Las Vegas Boulevard…

Travel ・ 14 October 2021

KTNV Las Vegas

LVCVA to sell 10-acre parcel for $120M on Las Vegas Strip

LAS VEGAS (KTNV) - Today the Las Vegas Convention and Visitors Authority (LVCVA) Board of Directors unanimously approved the sale and licensed use of a ten-acre parcel of land located at Las Vegas Boulevard and Elvis Presley Boulevard for $120 million. CB Investment SpA, a company owned by South American businessman Claudio Fischer will purchase…

Land-based ・ 13 October 2021

Review Journal

Las Vegas Strip land sold to developer for $120M

The Las Vegas Convention and Visitors Authority board of directors on Tuesday unanimously approved the sale of 10 acres of Strip-front property to a Chilean resort and real estate developer for $120 million. The buyer, CB Investment SpA, is operated by brothers Claudio and Humberto Fischer, who operate the Monticello resort near Santiago,…

Land-based ・ 13 October 2021

Review Journal

LVCVA to sell 10 acres of Las Vegas Strip property

The Las Vegas Convention and Visitors Authority is nearing a $120 million deal to sell 10 acres of Strip-front property where the Riviera stood. The LVCVA's board of directors on Tuesday is scheduled to consider selling the land at the southeast corner of Las Vegas and Elvis Presley boulevards, across the intersection from the long-stalled former…

Land-based ・ 11 October 2021