Tilman Fertitta buys prime real estate on Las Vegas Strip

Fertitta is said to have paid over $43m per acre for a property in the Strip.
Fertitta is said to have paid over $43m per acre for a property in the Strip.

The owner of Golden Nugget has spent $270m on land situated at Las Vegas Boulevard and Harmon Avenue.

US.- It’s been confirmed that Tilman Fertitta, owner of the Golden Nugget Casinos brand and NBA’s Houston Rockets, is in the process of acquiring a property on the Las Vegas Strip. His company, Fertitta Entertainment Inc has bought real estate on the Strip spanning over 6.2 acres for $270m.

The newly acquired property is situated at Las Vegas Boulevard and Harmon Avenue and lies between the MGM Grand and Planet Hollywood. A source with Fertitta Entertainment confirmed to the Review-Journal that the deal had closed but did not say what the plans were for the site.

Sources indicated that Fertitta plans to build a high-end casino resort, which will be in direct competition with MGM Resorts International and Caesars Entertainment.

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: Nevada gaming revenue surpasses $1bn for 14th month

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golden nugget Las Vegas Strip Tilman Fertitta