Construction of the Dream Las Vegas casino resort is now on pause after funds dried up. Construction costs have almost doubled to $575m as a result of various economic pressures. The developers are optimistic that the project will eventually get back on track but the planned opening date of late 2024 will likely have to be extended.
Construction started in July 2022 on the site on the south end of the Las Vegas Strip. The current plan is to create a resort with 531 rooms and a casino floor spanning 30,000 square feet offering a boutique-type experience. The site’s proximity to Harry Reid International Airport had initially caused some security concerns.
currently attempting to secure a new funding arrangement
The main contractor of the resort has halted work due to $40m in outstanding payments. Various subcontractors are also seeking money for work that has already been completed. The developers Shopoff Realty Investments and Contour are currently attempting to secure a new funding arrangement to complete the project. They are hopeful they can secure the additional capital within weeks.