Summary:
- The site will include an NBA-ready arena.
- Casino gaming and hotel stays are included in the plans.
- The resort is unnamed and will be a seven-star property.
The tallest-ever resort and first seven-star property may be on its way to Las Vegas. Plans were announced today by a real estate development company named LVXP for a new project in Sin City.
The company plans to spend several billion dollars to create a 2,500-room luxury resort, NBA-ready arena, and casino property, among other amenities.
Who’s Behind the Plan?
The principals behind LVXP are James Frasure Jr. (CEO), Christine Richards (Chief of Staff) and Nick Tomasino (Chief Construction Officer). Each individual is a long-time resident of Las Vegas, and the project includes a team of people who are experts in finance, real estate, marketing, entertainment, sports, and other sectors.
In an exclusive interview with Las Vegas Review-Journal, Frasure stated that the company has pulled together the best talent in the valley to make the plan a success quickly and impact the entire valley. Plans include an arena that can host NBA games and events, with 18,500 to 20,000 seats. A real money casino is also in the mix, plus rooms with tech advancements that are all the rage in overseas establishments.
The property will also include convention space, a retail area, and food options. A subterranean facility for parking is also in the works.
Additional Details of the Project
The project’s developers will prioritize sustainable development and green initiatives via its world-class construction partners. The development will create thousands of jobs, with construction and permanent jobs in place once the facilities are operational.
Local officials are excited about the prospect of the property, especially since the land would be put to good use. Clark County Commission Chairman Tick Segerblom commented that the well-conceived project will transform valuable undeveloped land into a highly productive destination and create long-term value for the community as well as visitors.
It is unclear who LVXP is working with regarding a hotel operator. The full building and development cost is also under wraps. Permitting requests should be submitted to Clark County by summer, and if permissions and permits are granted by August, then the groundbreaking ceremony can take place late this year or in early 2025.
Steelman Partners, a company known for creating gaming properties worldwide, has been hired to design the resort. As of yet, there are no renderings available for the new Las Vegas concept, but once the approvals start rolling in, we expect that more details, including visuals of the new property, will emerge.
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