The Drew Las Vegas delays opening
The facility located in the Las Vegas Strip has pushed back its opening date to 2022.
US.- Real estate mogul Steven Witkoff has revealed that the opening of The Drew Las Vegas will be pushed back by more than two years. The construction of the US$3.1 billion resort located on the Las Vegas Strip has slowed down due to budget uncertainty.
Witkoff said in an interview that the integrated resort (IR) will open in the second quarter of 2022. The project was originally scheduled to debut in late 2020. Witkoff said that the delay of the opening of The Drew will bring more certainty about his construction budget.
The mogul acquired the unfinished and formerly called Fontainebleau resort from Carl Icahn for US$600 million in 2017. “We believe Drew Las Vegas will usher in the next generation of Las Vegas resorts. It will be unlike anything on the Strip today – a truly IR that brings together a unique take on Las Vegas and curated set of experiences from around the world,” Witkoff said in a statement.
The resort, affiliated with Marriot International, targets high-end clients. While it will feature gambling options, it will emphasise its non-gambling amenities such as dining and nightlife.
John Knott, Executive Vice President of the commercial brokerage firm CBRE, said that the delay of the opening of The Drew is a good thing: “I think we end up with a project that opens a couple of years later that’s magnificent. I think it bodes well for the city in general. We have a pipeline of new openings,” Knott told News 3 Las Vegas. “It’s gonna be the world’s largest Marriot convention hotel, which in-and-of-itself speaks volumes,” said Knott.
