While the Las Vegas strip is already packed with opulence and extravagance, billionaire James Packer is betting there’s room for one more luxury lodge in town. The Australian mogul has filed plans with the county for Alon Las Vegas – a megaresort that is expected to spring up on the empty 34.6-acre site near Fashion Show Mall in 2018.
The plans detail a two-tower resort that would house 1,100 rooms and sprawl 126,000 square feet. The project is projected to cost $5 billion and would serve as the flagship for other Alon resorts around the world.
Packer is the executive chairman of Crown Resorts Limited, which owns and operates casinos in Melbourne and Perth, Australia. Crown previously tried to enter the Las Vegas market in 2008 with an investment in Fontainebleau Resorts, which resulted in a loss.
The site formerly housed the New Frontier casino, where Elvis Presley performed his first Vegas show in 1956. New Frontier closed in 2007 and Packer bought the property for a reported $280 million. Alon is a partnership between Packer, the fourth richest man in Australia, and former Wynn Las Vegas President Andrew Pascal.
“Central to our vision for Alon is the careful consideration, creative exploration and uncompromising execution of the resort experience. We are building a team of seasoned industry operators, entrepreneurs and global designers who bring a fresh, new approach to what we think the future of Las Vegas should be,’” Pascal said in a statement.
Pascal isn’t the only former Wynn executive to jump on Packer’s bandwagon; Todd Nisbet, who was responsible for the development of Wynn’s Bellagio and Wynn Resorts’ projects on the strip, is an executive vice president at Crown. It is also rumored that Packer is in talks to work with music promoter Jesse Waits, who was responsible for the success of XS and Tryst nightclubs at Wynn Resorts.
The former owners of the site, Israel’s El-Ad group, planned to build an $8 billion luxury hotel, but the plans fell through in the recession. The site is south of the Resorts World Las Vegas, a Chinese-themed megaresort being built by the Genting Group.
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