Howard Hughes Holdings considers new Las Vegas Strip casino
The group plans to launch a spin off named Seaport Entertainment.
US.- Howard Hughes Holdings has announced a planned spin off, Seaport Entertainment, which is considering opening a casino above Fashion Show Mall on the Las Vegas Strip. The company currently owns, manages, and develops commercial, residential and mixed-use real estate throughout the US.
The new division is intended to take over the entertainment operations of the company. This includes an 80 per cent interest in the air rights above the Fashion Show Mall, potentially for the development of a casino. The Fashion Show Mall opened in 1981 and remains the largest mall in Las Vegas.
The statement reads: “The planned separation of Seaport Entertainment from Howard Hughes will refine the identity of HHH as a pure-play real estate company focused solely on its portfolio of acclaimed master-planned communities.”
The former head of MGM Resorts International, Anton Nikodemus, will serve as CEO of Seaport. Nikodemus recently served as chairman and COO of CityCenter for MGM Resorts, where he was tasked with supervising operations for Aria, The Cosmopolitan of Las Vegas, Vdara and the property of MGM Resorts’ MGM Springfield in Massachusetts and the National Harbor Hotel in Maryland.
HHH CEO David O’Reilly said: “The assets of the Seaport Entertainment lie at the intersection of real estate and entertainment. Anton brings tremendous experience building some of the country’s most-acclaimed entertainment destinations and we are fortunate to have him taking the helm of this exciting new division of Howard Hughes.”
Nikodemus added: “I am excited to lead this new division of Howard Hughes and join the outstanding team that is forming Seaport Entertainment.
“There is tremendous opportunity ahead as we harness the potential and unlock the value inherent in these one-of-a-kind assets located in New York and Las Vegas – two of our country’s most dynamic entertainment destinations – and pursue new opportunities for accelerated growth.”
