Going
Author: Diana Heeb Bivona Fontainebleau – a $1.5 billion hotel-casino proposed by Turnberry Associates – is tied up with the County Commissioners who refuses to approve zoning until they address the traffic concerns.
New Frontier – a $2 billion hotel-casino by Phil Ruffin – financing may be the issue as no plans for financing or development have been announced.
Maxim Project – a $1.2 billion hotel-casino proposed in June by the owners of Maxim magazine and a California real estate developer – many gaming analysts don’t see this one happening. It’s considered speculative at this point. Thrown out there to see if anyone bites in terms of backing.
It seems like every time you turn around you are hearing about another hotel-casino, residential high-rise or mixed-use development being planned for the Strip. A more interesting story will be how many actually go the distance and are opened. Sure, the Trump International, the Palazzo, the Wynn Las Vegas, and Project CityCenter are well underway in terms of construction, but what about others that remain on the drawing board? What’s going on there?
Analyst believe several of these project will never see the light of day; particularly those that have inexperienced developers at the helm, are not well capitalized or not affiliated with existing brands or casino resorts. As they say, time will tell.