Fertitta’s casino-hotel project on Las Vegas Strip gets green light
The Clark County Commission Zoning Commission greenlighted the 43-floor hotel and casino proposed for the Las Vegas Strip.
US.- Clark County Commissioners approved Tilman Fertitta’s plans for a new hotel and casino on the Las Vegas Strip. The estimated start date on the project would be in March 2023, an application states. Completion is planned for March 2025.
Tilman Fertitta, owner of the Golden Nugget Casinos brand and NBA’s Houston Rockets, has acquired a property on the Las Vegas Strip through his company POLV LLC. The company bought over 6.2 acres at Las Vegas Boulevard and Harmon Avenue, between the MGM Grand and Planet Hollywood for $270m.
Clark county records show that plans for the site include a casino with 59,000 square feet of gaming area. There would be VIP salons and a lounge for high-limit gamblers.
The property would also have a 43-floor hotel with 2,420 rooms, villas, a 2,500-seat theatre, a spa, a wedding chapel, an auto showroom, convention space and a parking area with 2,500 spaces.
“We were pleased with Clark County Commission’s unanimous approval of our development plans today. However, this is just another step in our overall review and planning process. No firm decision has yet been made concerning our future plans, Jeff Cantwell, executive vice president of Development at Fertitta Entertainment, said in a statement.
Fertitta already owns the downtown Golden Nugget casino with 2,419 hotel rooms and 38,000 sq ft of gaming space. However, a purchase on the Strip would place him at what remains the epicentre of the US casino industry.
See also: Bally’s completes Tropicana Las Vegas acquisition
Nevada reports $1.2bn in gaming revenue for August
Nevada casinos saw their 18th month in a row with over $1bn in gaming revenue in August. According to the Nevada Gaming Control Board (NGCB), casinos collected $1.2bn in gaming revenue, up 3.5 per cent compared to August 2021.
Clark Country generated the majority of revenue at $1bn, up 2.9 per cent from the prior-year period, when revenue was $994.9m. Within Clark County, Las Vegas Strip revenue was up 5 per cent year-on-year to $659.7m. Downtown and North Las Vegas revenue amounted to $64.5 and $23.1m respectively, also up year-on-year.
