In June, American billionaire, businessman, TV personality, and owner of Golden Nugget and Landry Tilman Fertitta purchased 6.2 acres on the Las Vegas Strip after several failed attempts to obtain the land. Rumors regarding Fertitta’s plans to build a state-of-the-art casino resort on the land immediately started circulating. Now, Fertitta has officially confirmed the rumors regarding his massive project.
Tilman Fertitta’s New Hotel & Casino to Cost $270M
The casino mogul has expressed his intentions to build a 43-story hotel and casino on the purchased land on the Strip. He did so by sending his project application to the Clark County Commission. The commission is now busy determining whether to give it the green light or not. The luxury resort will spread across around six 6 acres at the southeast corner of Las Vegas Boulevard and Harmon Avenue. If its construction is approved, besides the casino floor, the new venue will also be home to several restaurants, a spa, a wedding chapel, a convention space, an auto showroom, and even a theater with a capacity of 2,500 seats. The same building plans for the new venue indicate dedicated VIP salons along with a bar and lounge area for high-stake gamblers. The investment is expected to cost $270 million.
The Clark County Commission still has until later in the month to consider the application plans and make a final call. The commission is expected to reunite on October 19. Fertitta Entertainment/Landry’s executive vice president Jeff Cantwell spoke about the new filing, calling the new space “a truly unique piece of real estate” that will be actively explored towards the new development opportunity. Cantwell added that while the company will keep going with the reviewing and planning procedures, there is yet no “firm decision” regarding their plans for the future.
Fertitta Owns the Golden Nugget in Las Vegas
This would not be the Houston Rockets’ owner’s first casino project on the Strip. The businessman also owns the Golden Nugget casinos with locations spread all across the country, including downtown Las Vegas in Laughlin, Nevada, as well as Lake Charles in Louisiana, Mississippi’s Biloxi, and Atlantic City. The fresh towering casino project built right on the Vegas Strip would, however, bring Fertitta an even stronger foothold in Sin City, the undisputable heart of the country’s casino capital.
At the beginning of the year, Fertitta launched a $5.6-billion refinance exercise for his restaurant and casino business. The decision came just one month after his company gave up the merger plans with a blank-check entity.