F1 buying land near Las Vegas Strip for $240M

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Jalopnik

F1 Allegedly Shaking Down Las Vegas Restaurants For Race View

The Formula 1 World Championship is set to have a visually stunning night race in Las Vegas under floodlights and the colorful glow of casinos on the Strip this November. However, if you're physically standing alongside the Las Vegas Strip, your view of the race could be obstructed. The championship's commercial arm is flexing its muscle to force…

Travel ・ 28 July 2023

The Street

Las Vegas Strip Player Building a 'Circus Village'

Las Vegas is known as the world's entertainment capital for its many charms, which come in a variety of forms. The 4.2-mile stretch that lights up the Las Vegas Strip features attractions such as Caesars Entertainment's (CZR) - Get Free Report Eiffel Tower at Caesars Paris Las Vegas, the Statue of Liberty replica at MGM Resorts International's…

Land-based ・ 07 January 2023

Review Journal

Las Vegas’ top 10 real estate deals of 2022

Las Vegas' wheeler-dealer real estate market didn't disappoint in 2022. Here are the top 10 deals of the year, ranked by yours truly. Some blockbusters that closed in 2022, including the $5.65 billion sale of The Cosmopolitan of Las Vegas, are not listed because they were announced in 2021 and were in that year's top 10. 1. Tilman Fertitta Houston…

Top and Best ・ 31 December 2022

Mancunian Matters

Slots through the ages

Whether you're an avid casino player or not, there's no doubt you're familiar with the colourful slot machines that stand tall in pubs, bars and service stations - just to name a few. These games are, in fact, one of the most popular forms of casino gaming, with online Slots making up for the majority of virtual gaming traffic.

Gaming Authorities ・ 26 October 2022

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The Street

Las Vegas Strip Loses One Legendary Casino, Keeps Another (for Now)

Another domino on the Las Vegas Strip has fallen, and that's only the beginning since dominoes generally ripple, sometimes with unintended consequences. Many of the major moves on the Strip are connected. MGM Resorts (MGM) sold the Mirage to Hard Rock International and that led to it buying the Cosmopolitan. MGM likely planned those two moves, but…

Land-based ・ 23 September 2022

The Street

MGM Resorts Answers Caesar's Big Las Vegas Strip Casino Move

Everything you can do, I can do better. That seems to be the mantra guiding MGM Resorts International (MGM) and Caesars Entertainment (CZR) as they do battle on the Las Vegas Strip. If Caesars brings in Adele, MGM adds Usher. It's the same when it comes to restaurants owned by celebrity chefs, new shows and experiences, pools, day clubs,…

Travel ・ 16 September 2022

The BlackBook Motorsport

Las Vegas GP date revealed, race set to be paired with Abu Dhabi

F1 pulled off a major coup earlier this year by getting all the agreements and permissions necessary to use the Las Vegas city streets and run its cars past some of the city's major casinos. A letter of intent from Liberty Dice, a new entity created by the sport's owner Liberty Media, lays out the terms of the five-year deal for the F1 race on a…

Sports ・ 08 August 2022

The Street

Unique Resort Casino Headed to the Las Vegas Strip

The Las Vegas Strip has become a land where casino operators have generally decided bigger is better. Caesars Entertainment (CZR) - Get Caesars Entertainment Inc. Report and MGM Resorts International (MGM) - Get MGM Resorts International Report mostly operate massive megaresorts while Wynn Resorts' (WYNN) - Get Wynn Resorts Limited Report signature…

Land-based ・ 08 July 2022

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Yogonet

F1 racing to debut on Vegas Strip in November 2023, promoted by major casino operators

Las Vegas has been greenlighted to host Formula One racing beginning in 2023. Formula One and Las Vegas Convention and Visitors Authority (LVCVA) officials announced Wednesday that the Las Vegas Grand Prix is slated to occur at night on a yet to be determined Saturday in November 2023, on the Vegas Strip, promoted by major gambling operators. "This…

NFL ・ 25 May 2022

The BlackBook Motorsport

Why F1 is spending $240m on a Las Vegas construction plot

It might not have been a perfectly smooth weekend, but the Miami Grand Prix was a huge success for Formula 1. The crowds came, the place was thronged with more A-listers than we've ever seen at one event, and in the end we had a decent race, helped by a late safety car that livened things up. It was another important step in the sport's bid to have…

Land-based ・ 15 May 2022

Northern Nevada Business Weekly

Caesars spinoff VICI closes on big Vegas Strip property deal

FILE - A plane takes off from Harry Reid International Airport near casinos along the Las Vegas Strip, on Sept. 29, 2021, in Las Vegas. Caesars Entertainment spinoff VICI Properties said April 29, 2022, that it completed its $17.2 billion buyout of MGM Growth Properties, the Las Vegas Review-Journal reported. The deal was first announced last…

Travel ・ 12 May 2022

Vegas Slots Online

Las Vegas Agrees $19.5 Deal to Host F1 Races for 3 Years

Las Vegas will host Formula One races in 2023, 2024, and 2025 after the city's tourism body agreed on a $19.5m sponsorship deal. [Image: Shutterstock.com] The Las Vegas Convention and Visitors Authority (LVCVA) has voted in favor of bringing the Formula One Grand Prix to the world's gambling capital for at least three years. a $19.5m sponsorship…

NFL ・ 11 May 2022

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The BlackBook Motorsport

F1 pays $240m to acquire city site for Las Vegas paddock

How F1 would find the space to house the paddock and other infrastructure such as hospitality in the centre of the city has been one of the main question marks surrounding the race. The city authorities agreed that the streets can be used, but most of the land adjacent to the track belongs to casinos and other businesses. Teams were told recently…

Travel ・ 06 May 2022

Vegas Slots Online

Sources Say Fertitta Buying Vegas Strip Site for Luxe Hotel

Sources are saying that Houston billionaire Tillman Fertitta is buying six acres of property on the Las Vegas Strip where he intends to build an upscale resort. [Image: Shutterstock.com] Landry's Inc. owner and CEO, Tillman Fertitta, is buying six acres on the Las Vegas Strip with an intent to develop an upmarket resort, according to sources cited…

Religion ・ 27 April 2022

The Street

New Las Vegas Strip Casino Property Owner Looks to Dubai

Anything can happen on the Las Vegas Strip. That goes for what tourists might do in a place that for years told people that any sins they commit in Sin City "stay in Vegas," but it also goes for the actual properties on the famed stretch of land. MGM Resorts International (MGM) - Get MGM Resorts International Report, for example, owns an Egyptian…

Land-based ・ 09 April 2022

Daily Mail Online

F1: Las Vegas Grand Prix confirmed for next year as racing chiefs hit jackpot with first £1bn deal

Formula One hit the jackpot in Las Vegas last night by sealing what is likely to represent the first £1billion deal in the sport's history. After months of negotiations, F1 chief executive Stefano Domenicali flew from London to Sin City's iconic Strip to announce the Las Vegas Grand Prix will join the calendar next year. In a break with recent…

Winnings ・ 31 March 2022

The Street

Overlooked Section of the Iconic Las Vegas Strip Gets a New Life

When you think of the Las Vegas Strip, you generally think of the south Strip, which counts Planet Hollywood, Aria, Mandalay Bay, and Luxor among its many properties as well as the famous "Welcome to Las Vegas" sign, or the mid-Strip which contains the Venetian, Mirage, Harrah's Caesars Palace, Pairs, and Bellagio among other properties. These two…

Land-based ・ 22 February 2022

The Street

Las Vegas Strip Icon Set for Demolition; Another May Stay

Las Vegas has an endless series of iconic attractions. the Las Vegas sign, the Fountains of Bellagio, the Grand Canal at Venetian, the Fremont Street Experience Downtown, the Fountains at Caesars Palace that Evel Knievel failed to jump in 1967, the High Roller Ferris Wheel at the Linq, the Skypod at the Stratosphere, the Eiffel Tower at Paris, the…

Land-based ・ 03 February 2022

Star Advertiser

Some Vegas Strip casinos to get new facades, familiar names

LAS VEGAS >> Some shuffling among owners could result in rebranding, demolition, reconstruction and the addition of familiar names at some of the Las Vegas Strip's most iconic properties. Caesars Entertainment Inc., owner of the venerable Bally's Las Vegas, announced this week that it plans to rename its heart-of-the-Strip towers the Horseshoe Las…

Poker ・ 09 February 2022

Capital

MGM agrees to sell Mirage Casino to Hard Rock for $1bn

MGM Resorts International (MGM) agreed this week to sell operations of its Mirage Casino to Seminole Gaming subsidiary Hard Rock International for $1.075bn (£810.5m), marking the latest shuffling of ownership along the resurging Las Vegas Strip. No real estate will change hands in the deal and the $1.075bn will go in cash to MGM, which purchased…

Travel ・ 16 December 2021

Review Journal

Mirage to be remade into ‘brand-new resort’ on Las Vegas Strip

The Mirage will become a "brand-new resort" once Hard Rock International completes the remodel of its soon-to-be acquired property on the heart of the Las Vegas Strip, the company's chairman said Tuesday. Hard Rock announced Monday that it is buying the operations of The Mirage from MGM Resorts International for $1.075 billion, a move that will put…

Land-based ・ 15 December 2021

Review Journal

MGM Resorts makes shrewd move to acquire The Cosmopolitan of Las Vegas

Last week, the largest employer on the Strip made the surprise announcement that it's acquiring the operations of The Cosmopolitan of Las Vegas for $1.625 billion. It's part of a larger $5.65 billion real estate deal for Blackstone with a method in vogue in the gaming industry these days: A group of investors is buying the real estate beneath The…

Travel ・ 04 October 2021

Review Journal

MGM Resorts sells casinos for billions, rents for huge sums

In a burst of multibillion-dollar deals, Las Vegas has seen investors pay mountains of money the past few years to own high-profile casino-resorts. Those sales have also shown what casino operators - well, one in particular - are willing to pay to rent these properties. MGM Resorts International has reached deals since fall 2019 to lease Bellagio,…

Travel ・ 04 October 2021

Bristol Herald Courier

Las Vegas Strip resort casino adds a new luxury experience

The Las Vegas Strip has a well-deserved reputation for excess and indulgence. People visit the Strip, pockets stuffed with money ready to spend it in ways they never would at home. That might mean fancy meals, spa treatments, pro sporting events, UFC or boxing matches, or tickets to pricey concerts. It also, of course, means gambling. Las Vegas…

Land-based ・ 14 January 2024

Bristol Herald Courier

Las Vegas Strip resort casino sets a bizarre record

The Las Vegas Strip specializes in larger-than-life excess. Casinos keep getting bigger and more over the top. It's not easy to get attention on the 4.2-mile stretch of road that's packed with everything from a volcano (at least for now), a Statue of Liberty, and an Eiffel Tower. The Strip has become an endless sea of big names using neon, special…

Land-based ・ 04 December 2023