LVXP announces plan for new entertainment development in Las Vegas

The real estate development company plans an experiential mixed-use project.

US.- Real estate development company LVXP has announced plans for an experiential mixed-use development project on the Las Vegas Strip. Located on a 27-acre site at 2601 South Las Vegas Boulevard, across from the Las Vegas Convention Center, near Fontainebleau Las Vegas and Resorts World Las Vegas, it would feature a retail plaza, convention space, a destination casino and several luxury hotels and residences.

The company said it will prioritise sustainable development and will create thousands of jobs.

James R. Frasure Jr., CEO of LVXP, said: “We are honored to be stewards of this significant milestone in the city’s legacy. Our commitment is to create a destination that captures the essence of Las Vegas and provides lasting benefits for the community. For me, this endeavor is more than a project – it’s a promise to uphold the spirit of innovation and enthusiasm that defines our local culture.”

Tick Segerblom, Clark County Commission chairman, added: “This is a well-conceived project that has the potential to transform a valuable undeveloped land parcel into a highly productive destination that contributes meaningful long-term value to the community and visitors alike.”

Chief construction officer Nick Tomasino said: “My experience leading the construction of some of the most iconic developments on the Strip has provided me with the insight and expertise necessary to bring this project to fruition. I am thrilled for the opportunity to yet again build a destination that will transform Las Vegas Boulevard and leave a long-lasting positive impact for future generations.”

Nevada gaming revenue reaches $1.29bn in March

The Nevada Gaming Control Board (NGCB) has reported that the state’s casinos generated $1.29bn in gaming revenue in March. That’s a decrease of 1.5 per cent year-on-year, ending a streak of eight consecutive monthly increases.

The Las Vegas Strip generated $715.8m, down 1.2 per cent year-on-year. Clark County as a whole, which includes the Strip, downtown Las Vegas, North Las Vegas, the Boulder Strip and surrounding areas, generated $1.13bn, a 1.5 per cent decrease. Washoe County, which includes casinos in Reno, Sparks and North Lake Tahoe, saw revenue decrease 3.8 per cent year-on-year.