The 35-acre property features 1,470 rooms, 50,000 square feet of casino space, a 1,200-seat theater and 100,000 square feet of convention and meeting space.
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Station Casinos cleared a hurdle in its quest to build a new resort in North Las Vegas, as the company shakes up its real estate portfolio.
The Pinball Hall of Fame was built over its property boundaries, encroaching on the soon-to-be-built Dream Las Vegas casino-resort.
The hotel-casino’s shopping district will span 90,000 square feet and feature around 35 “luxury retail concepts.”
The $5.65 billion deal was also the latest high-priced transaction in Las Vegas that did not produce a dollar of real estate transfer taxes.
Station Casinos has loaded up on more land in Las Vegas, closing a big purchase just a few days after it unveiled plans to demolish three hotels in Southern Nevada.
Dream Las Vegas, on the south edge of the Strip, will feature dining and nightlife venues, 12,000 square feet of meeting and event space and a 20,000-square-foot casino.
According to Las Vegas city records last year, the one-story project will span more than 21,000 square feet and sit on a 5-acre plot of land.
Dream Las Vegas is estimated to cost around $550 million and slated to open in late 2024.
It was the latest high-priced deal in Las Vegas that did not produce transfer tax revenue that supports schools and low-income housing in Nevada.
The buyer, British businessman Simon Dolan, made headlines for challenging the U.K. government in court over the country’s pandemic lockdowns.
Multibillion-dollar property sales can be structured to allow buyers and sellers to avoid paying the transfer taxes that support schools and other programs in Nevada.
Complex transactions without transfer taxes frequently cite an exemption allowed under state law for entities that transfer property to a subsidiary.
With its multibillion-dollar sale in the works, The Cosmopolitan of Las Vegas gave employees a welcome surprise Wednesday: a $5,000 bonus each.
Over the past year or so, Las Vegas has seen a rising tally of sales and construction plans involving vacant land, retail properties and hotels on or near its famed casino corridor.
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Henderson police officers were heard asking a man to stop walking toward a house in the moments before he was shot by a police officer, police body camera footage showed.
The gunman who killed five people at an apartment complex took his ex-girlfriend hostage after he fatally shot her daughter and the daughter’s girlfriend in her presence, police said.
Winds of 8-18 mph early Thursday could escalate to 30 mph.
The suspect is being held in the Clark County Detention Center on $1 million bail, according to jail and court records.