An exciting project
Billionaire Golden Nugget owner Tilman Fertitta is ready to make a splash on the Las Vegas Strip.
In plans filed with Clark County, Fertitta outlined the creation of a 43-story, 2,420-room hotel and casino on six acres of land he bought earlier this year. Amenities include a 2,500-seat theater, auto showroom, meeting centers, restaurants, a spa, and a wedding chapel.
VIP rooms and villas, salons, and a high-roller gambling lounge and bar
More lavish visitors will also enjoy VIP rooms and villas, salons, and a high-roller gambling lounge and bar. The Clark County Department of Comprehensive Planning director Nancy Amundsen said on Wednesday that the Clark County Commission will discuss the plan on October 19.
Fertitta adds to his Vegas arsenal
Fertitta, 65, has been eagerly mulling options to build on the land that he purchased for $270m earlier this year. Although he already has the Golden Nugget downtown, he does not control a property on the famous Las Vegas Boulevard, hence why the new project is so important.
A project as ambitious as the one being laid out requires serious financial power. Thankfully for Fertitta and his team, he has an estimated net worth of $7.7bn, according to Forbes. He also has high-level connections through his ownership of the NBA’s Houston Rockets and other business interests.
Fertitta will have a new title as the owner of one of the tallest buildings on the Strip
If Clark County approves the plans, Fertitta will have a new title as the owner of one of the tallest buildings on the Strip, thereby increasing his power in the heart of America’s gambling epicenter.
“We have acquired a truly unique piece of real estate and are actively exploring this development opportunity,” Jeff Cantwell, executive vice president of development at Fertitta Entertainment, said in a statement Wednesday. “While we continue to go through the review and planning process, no firm decision has yet been made concerning our future plans.”
Sweeping changes across the strip
Fertitta has already made changes to his plot on Las Vegas Boulevard, even without approval for his massive project. He shuttered a Travelodge motel with 59 years of service under its belt and has control over restaurant and souvenir shops located on the land he was sold.
not alone in declaring his interest in Las Vegas property
The billionaire business owner is not alone in declaring his interest in Las Vegas property. In July, Red Rock Resorts bought 126 acres south of the Strip for $172m. In August, Clark County approved plans from New York investment firm Gindi Capital for a three-story commercial property south of Fertitta’s land.
A $20m seafood restaurant also has plans to open nearby in Spring 2023. It will offer fine dining, more than 400 seats, and a 2,500 square-foot rooftop terrace.
Developer and philanthropist Brett Torino and New York’s Flag Luxury Group are also constructing a four-story retail building at the southwest corner of Las Vegas Boulevard and Harmon Avenue, adjacent to where Fertitta’s planned casino would rest. All of this comes as the entertainment district continues to show encouraging signs of recovery from the COVID pandemic.