Sources Say Fertitta Buying Vegas Strip Site for Luxe Hotel
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Tillman Fertitta is buying six acres on the Las Vegas Strip with an intent to develop an upmarket resort. He is expected to close the acquisition within a few months. The sources say he's buying the site for over $200m.
Sources say Fertitta is buying the Vegas Strip site for Luxe Hotel. Torino backs the plans. The site is next door to Planet Hollywood Resort and across from the CityCenter Complex. FERTITTA already owns the Golden Nugget Las Vegas Hotel and Casino in downtown Vegas.
Brett Torino, a Vegas developer, has heard many people discussing the billionaire's plans for a property at the Las Vegas Boulevard, Harmon Avenue intersection.
Torino claims that the site across from CityCenter Complex is "just begging to be developed". Las Vegas Sands has now vacated the Strip. Fertitta and his publically listed media contacts did not reply to appeals for comment about his plans. Spectrum Group Management managing partner/portfolio manager Jeff Schaffer declined to comment.
