Viva Pot Vegas? Las Vegas Strip Land Sold to Mystery Buyer
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The Las Vegas Strip has been a hot property in the last two years. New casinos have been built, a number of pieces of land have also been purchased. The buyer of the land is unknown. The owner of Houston Rockets, Tilman Fertitta, is planning to purchase prime property on the Strip to develop a new high-end casino project. There are also plans for a possible new Major League Baseball stadium for the Oakland Athletics. It is possible that MSG will get the Madison Square Garden Sports Corp. Class A (New) Report Sphere. and a first-of-its-kind entertainment venue.
A 2.2-acre piece of land at Las Vegas Boulevard at Russell Road sold for $12.8 million. The land was bought by Lily Funds Founder Tom McManus, who did not identify the buyer. It's unclear whether the site could be used for cannabis consumption. Las Nevada has fully legal cannabis, but it's illegal to sell it on the Strip. There are efforts to allow a consumption-friendly hotel just off the strip. The law says a cannabis-related venue must be 1,500 feet away from a casino. Caesars Palace is 66 acres, Mandalay Bay 118 acres and Caesar's Palace 66. 2 acres.
