Las Vegas Commercial Real Estate

What’s a casino to do when you get not one, but two offers to buy?
In addition to a pending offer by Pinnacle Entertainment made in early March, the Tropicana Casino owners now have another option on the table to examine.
The LA-based real estate investment firm, Colony Capital Acquisitions, has offered $1.4 billion […]

Wynn Resorts has announced that the expected cost for its Encore project is now $1.74 billion. This is up from previous estimates in the range of $1.4 billion to $1.6 billion. The initial budget was set at $900 million.
The additional costs for the planned 2,054-room hotel tower due to be completed at the end […]

The Las Vegas Sun is reporting that the Curve project, a condo development in southwest LV, is sending letters to approximately 100 buyers offering to refund their deposits or extend their contracts by 150 days. Developers had set a 180-day period to sell 75% of the units before beginning construction. The first […]

The Las Vegas Sun is reporting that Henderson homebuilder, D.R. Horton, faces multiple fines for allegedly violating Clark County air quality regulations by conducting blasts without a permit. The county could levy fines of up to $10,000 a day for each of 22 days that blasting occurred over a three-month period, ending […]

The Las Vegas Review-Journal is reporting that the owner of the Riviera Hotel has resumed negotiations with an investment group looking to purchase the casino-hotel. SEC filings indicate that the investment group is led by Starwood Hotels’ Chairman Barry Sternlicht and Las Vegas real estate developer Brett Torino. Riviera is considering a […]