Tilman Fertitta reportedly plans to purchase prime property on Las Vegas Strip

The owner of Golden Nugget is said to be looking at a development at the southeast corner of Las Vegas Boulevard and Harmon Avenue.

US.- Tilman Fertitta, the owner of the Golden Nugget Casinos brand and NBA’s Houston Rockets, is reportedly in the process of acquiring a property on the Las Vegas Strip. Fertitta is said to be planning a new casino resort at the site, according to the Las Vegas Review-Journal.

The property, at the southeast corner of Las Vegas Boulevard and Harmon Avenue, is across the street from the Aria, Vdara and Waldorf Astoria Las Vegas hotels as well as upscale Shops at Crystal and the Veer Towers condominium complex.

Fertitta will reportedly pay $200m for the 6-acre site ($33.33m per acre), currently owned by Spectrum Group Management. One source told the Review-Journal that Fertitta expects to close the acquisition in the next few months, but that the deal has not been finalised. Apparently the property owner has agreed to a sale.

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The billionaire CEO of Fertitta Entertainment already owns a property in Las Vegas: 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 epicenter of the US casino industry.

See also: Golden Nugget breaks ground on Danville casino in Illinois