Las Vegas seeing a flood of exciting new investments
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LAS VEGAS (KTNV) — From lights out to more lights than ever on the Las Vegas Strip, more money, plans, and projects are pouring into the entertainment capital of the world.
Caesars Entertainment and Spiegelworld struck a $75 million deal on Thursday, bringing three new live entertainment experiences to three different cities, including Las Vegas. A new theater is being built at the Linq Hotel + Experience to create the atmosphere for "Discoshow," which debuts in Las Vegas in late 2022.
"We are going to build a theater unlike anything anyone's seen before. This is a theater that is five walls of LED, including the floor. The entire floor is made of LED. The 'Discoshow' opening New Year's Eve next year, I think, will bring a level of party and fun, not just to the Linq, but to the whole of Vegas," said Ross Mollison, impresario extraordinaire of "Spiegelworld."
This part of the partnership is the latest major investment in Las Vegas, from Station Casinos' newly-approved 211-room Durango project in the southwest to Dream Las Vegas, a 527-room hotel approved to be built south of the Strip next to McCarran Airport, to Majestic Las Vegas, a 720-room hotel that will be built near the north end of the strip near the Las Vegas Convention Center with the goal of opening in 2024.
Anthony Curtis, of the Las Vegas Advisor, says the timing of these announcements is probably a coincidence. But what's not a coincidence, in his opinion, is the rising consumer confidence surrounding the city of Las Vegas.
"These are a bunch of projects that were waiting to happen and they're starting to. The market is saying things are getting better. The market is saying it's time for us to get back to work. We've heard about pent-up demand. This is sort of like pent-up progress. Tourism numbers are good. They're not back to where they were, but they're very good. Everything points positive and that's why a lot of these deals are starting to emerge right now," said Curtis.
Amid all the action, it's not all progress. Just today, Marriott scrapped its plans to reopen the former Fontainebleu on the strip. Meanwhile, the Palms, Texas Station, and Fiesta Rancho all remain closed, with no immediate plans to reopen.
