Dive Brief:
- The Clark County Commission in Nevada unanimously approved plans for Houston billionaire businessman Tilman Fertitta’s proposed resort on the Las Vegas Strip Wednesday.
- The 43-story luxury project will include 2,420 hotel rooms, a theater consisting of 2,536 seats and a multiple-level parking garage on a 6.3-acre lot located on the east side of Las Vegas Boulevard South near the Planet Hollywood Resort and Casino, according to Clark County public records.
- The casino resort will also include retail space, indoor and outdoor dining, a spa and fitness center, conventions, offices and a wedding chapel, according to the document.
Dive Insight:
The post-pandemic building boom in Las Vegas remains strong, as developers continue to bet on Sin City’s growth with project types across the board, including gaming, entertainment and healthcare projects.
Although inflation has taken a toll on U.S. consumer spending recently, economic headwinds haven’t diminished enthusiasm for big projects in the city.
For example, Clark County officials recently approved a $600 million renovation of the Las Vegas Convention Center. That project is expected to be completed by the end of 2025, according to project documents.
The Las Vegas Convention and Visitors Authority commissioned Miller Project Management to manage the project. Miller Project Management did not respond to messages asking whether a general contractor has been named for the project.
Other projects in the Las Vegas pipeline include:
- $3 billion Oak View Group entertainment venue.
- $1.8 billion MSG Sphere entertainment arena.
- $550 million Dream Las Vegas hotel and casino.
- $240 million land deal for Formula 1 race track development.
- $5 billion Helios medical campus.
