Five Billion Dollars of Investments Towards Vegas' Reinvention

Conceptual Design for the Las Vegas Global Business DistrictLas Vegas is continually reinventing itself. A series of new projects are putting more than $5 billion into the destination over the next several years.

In March, Genting Group announced plans for an Asian-themed resort complex on The Strip. Expected to open in 2016, Resorts World Las Vegas will include 3,500 rooms and a replica of the Great Wall of China.

MGM Resorts International and AEG recently announced plans for a 20,000-seat arena to be located west of The Strip between New York-New York and Monte Carlo.  The company is also rebranding THEhotel at Mandalay Bay into Delano Las Vegas, which will open in early 2014. Other property renovations include Mandalay Bay, MGM Grand, The Mirage and Bellagio.

Scheduled to open in early 2014, Caesars Entertainment announced details of Gansevoort Las Vegas, a new boutique resort and casino on the former site of Bill’s Gamblin’ Hall & Saloon. Caesars’ other projects include work on The LINQ, renovations at The Quad, formerly the Imperial Palace, and the opening of the Nobu Hotel at Caesars Palace.

In February, the Las Vegas Convention and Visitors Authority unveiled plans for the Las Vegas Global Business District, an overarching vision for the Las Vegas Convention Center and the surrounding area. The preliminary cost for the project is $2.5 billion and will be completed in phases. This will be the first major expansion of the 54-year-old Las Vegas Convention Center in more than a decade.

In addition to these projects, several resorts are re-branding and refurbishing their properties including the Sahara as the SLS Las Vegas in 2014, and the Lady Luck as the Downtown Grand later this year. More renovations are currently underway at The Venetian, Gold Coast Hotel and Casino, Golden Gate, Palms, The D Las Vegas, Riviera, The New Tropicana Las Vegas, Four Seasons and more.

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