Dive Brief:
- A variety of entertainment megaprojects will wrap up this fall in Las Vegas, ahead of the highly anticipated Formula 1 Las Vegas Grand Prix race through the city in November.
- At a cost of about $560 million, the event includes a 3.8-mile track that will weave past casinos and hotels as drivers hit speeds of up to 212 mph, according to the event website. A 300,000-square-foot, four-level paddock building under construction a few blocks east of the Strip will serve as the main hub of race activities.
- “This is one of the most aggressive programs of construction and design I’ve seen, certainly in Vegas, as well as sports,” Terry Miller, project manager for the Las Vegas Grand Prix, told the Hollywood Reporter.
Dive Insight:
In total, the Sin City area will see the completion of more than $8 billion in projects this year, adding nearly 4,700 hotel rooms and 572,000 square feet of convention space to the Strip and downtown area, according to the Las Vegas Convention and Visitors Authority’s latest construction bulletin.
One block from the Strip, adjacent to the Venetian Resort, the $2.3 billion MSG Sphere will open to concertgoers Sept. 29 with the start of Irish rock band U2’s residency. The world’s largest spherical structure stands 516 feet wide and 366 feet tall, can seat 17,600 spectators and has standing room for an additional 20,000 people.
Its exosphere, the structure’s marquee attraction, features a 580,000-square-foot fully programmable LED exterior that has been lighting up the city since July.
A preview of its interior and what organizers claim is “the largest screen on the planet” was posted on social media last week.
Hospitality projects will continue to come online this year even after the race is over. In November, the $780 million Durango Casino & Resort will open in the southwest Las Vegas Valley and the Fontainebleau Las Vegas hotel will open Dec. 13, following a $3.9 billion redevelopment that took nearly 20 years to achieve, according to the Las Vegas Review-Journal.
The Miami-themed property located on the northern end of the Strip will feature 3,644 rooms, 36 restaurants, 150,000 square feet of gaming space and 6 acres of pool areas.
