Las Vegas casino investors wagering on comeback
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Las Vegas has seen a burst of multibillion-dollar resort sales this year. Developers have pushed ahead with plans for new hotels on and off the Strip. Florida developer Jeffrey Soffer announced Nov. 9 that he aims to open the 67-story Fontainebleau Las Vegas in the fourth quarter of 2023. Station Casinos aims for ground breaking early next year on a $750 million resort in southwest valley. Dream Las Nevada hopes to break ground next next Year on their 20-storey hotel-casino near the south edge of the strip. Las. Vegas Sands Corp. announced in March it was selling The Venetian, Palazzo and former Sands Expo and Convention Center for $6.25 billion. MGM Resorts International said in July it would sell Aria and Vdara for nearly $3.9 billion and rent them back. Blackstone announced it is selling Cosmopolitan of Las Las Vegas for almost $5.65 billion, nearly $4 billion more than its purchase price in 2014.
The Review-Journal is owned by the family of Dr. Miriam Adelson, the majority shareholder of Las Vegas Sands Corp.
