Las Vegas has come a long way since its roots as a Native American oasis to the Wild West. Today, it’s the Entertainment Capital of the World – a place for people to have fun, test their luck at the tables and live a luxurious lifestyle.
With such a big year of developments in 2014 such as the SLS Las Vegas, the Cromwell, and the Linq promenade, you always wonder what’s coming and going and what the future of Las Vegas is going to look like.
What will be the next great thing in Vegas and what can we look forward to?
From here, the future’s looking bright with new hotel operators coming to the Vegas Strip and also some non-gaming related attractions as more of the tourism shifts to other industries.
The Future is Bright for Las Vegas
Changes on the Las Vegas Strip
Currently the Strip is home to new-urban architecture, the latest designs and technology. LEED certified green buildings are being incorporated into both residential and commercial buildings and the city really looks like it’s a modern and urban city. Many areas within the city are sustainable, such as Downtown Vegas, where new building, transportation and development projects are underway, and neighborhoods are being renovated and revitalized.
When one hotel or business closes, something must pop up in its place. Recently, Penn National Gaming announced that the will purchase the Tropicana. This is a huge step for this company as it will be their first time making their mark on the Strip. Currently they operate M Resort that is located about 10 miles away from the Strip. As they introduce the national casino players club, Marquee Rewards, to Tropicana, their primary focus will shift to their current customers in the country and bring a new group of visitors to this part of the Strip.
Another property trading hands is the sale of the Hooters Casino. Trinity Hotel Investments, out of New York, bought the building and currently it is undecided what will replace the property. Trinity Hotel Investments is known for their partnerships with big players in the hotel industry such as DoubleTree by Hilton, Holiday Inn, and Crown Plaza. While the final details are being sorted out, the casino will be operated by Navegante. Perhaps the sale of the Hooters Casino has something to do with the company opening their largest restaurant in the nation at the Palms.
Excitement has been stirring regarding the land across the street from Wynn Las Vegas that was purchased by James Packer late last year. Though the details of the hotel have been kept under wraps, we do know that he’s planning to build a brand new casino where the New Frontier once stood. Nothing has broken ground yet, so it’s hard to say when the project will be completed, however, rumors said that it will be open sometime in 2017. It will be exciting to see this new hotel come to life and more so to see what former Wynn Las Vegas President, Andrew Pascal, will do with it. As a member of the coming team, the Strip can expect to see an experienced casino operator coming back to town.
Continued Growth and Transformation in Las Vegas
Another major transformation happening on the Vegas Strip is the closing and demolishment of the Riviera. Genting Group announced earlier this year that they would be breaking ground on a new $4 billion hotel-casino called Resorts World Las Vegas, started their project earlier this month. As a memorable location to veterans of the city, the former home to the Stardust sits on the north end of the Strip. Resorts World will be the first themed hotel to open in the city since The Venetian in 1999. This Asian-themed hotel will be built on 87 acres of land to include 3,000 hotel rooms, 175,000 square foot casino with over 30 bars and restaurants. The area will also include a theater, 50,000 square foot aquarium and a shopping area for its patrons. While the Genting Group has no other ties to Las Vegas, they have many dealings in the Asia.
The recent addition of the Grand Bazaar Shops, an outdoor shopping mecca located in the heart of the Vegas Strip, is a continuation of the trend that’s pushing more activities to the outdoors. The complex includes over a hundred shops within the two acres of land and is looking to bring a memorable dining and shopping experience to the Strip.
Other notable additions or projects coming to the area include the City of Rock, the Mandalay Bay Convention Center expansion, the Park & Arena, and the North Strip Walgreens.
Ready to Be a Part of Las Vegas’ Future?
With so many projects completed or in progress, the future of Vegas seems to be on the upside and we are all excited to be part of it. If you’ve been thinking of moving to the Vegas area, it’s a great time.
Having been in real estate for over 20 years, I know every detail about the area and can help you find your perfect dream home. Contact us today for more information on relocating to Las Vegas or finding your next Vegas property.