South Point Hotel Casino finished a $6 million renovation last month, and this week, it purchased an extra area of adjacent land.
South Point owner Michael Gaughan, estimated net worth somewhere around $500 million, has previously said he plans to turn the 4.3 acre space into an overflow parking lot.
The casino resort’s South Point Arena hosts a variety of equestrian and other sporting events throughout the year. Gaughan estimates the extra parking will be filled at least five or six times a year.
The property also recently announced it will host the Casino Collectibles Association’s annual show this year from June 13 to 15.
$6 Million Redevelopment
South Point Hotel Casino is six miles south of the Las Vegas Strip. It has a 137,232-square-foot casino floor and more than 3,000 slots. The 2,163 rooms make it comfortably the largest locals-oriented off-Strip hotel casino in the city.
The recently completed renovations at the southern Las Vegas property started in August 2023, and were completed earlier this month. The resort spent $6 million upgrading 84 suites out of its 200 rooms. It added a higher level of luxury to the hotel’s high-end suites on its 25th floor.
This represents only 4% of South Point’s 2,100 rooms. But it no doubt accounts for more of the potential gambling revenues, being that the luxury suites that attract higher-budget customers.
Aside from the possible new parking, the new land purchased this month also links up with a 2.3 acre area of land Gaughan bought in 2015.
This presents the opportunity for a larger casino construction in the future, although no plans other than parking have been set down as of yet.
South Point’s History
South Point opened as the South Coast in December 2005 at a total cost of $625 million. It was proposed by Gaughan, but then bought by Boyd Gaming during the construction process.
However, by 2006, Gaughan bought the casino back from Boyd. In exchange, they kept the Coast Casinos brand – so Vaughan changed the name of the venue to South Point.
That year, Gaughan opened the equestrian event center, South Point Arena. Many investors were at first skeptical. But it proved wildly popular and helped turn around South Point’s initially disappointing start. Nearly two decades later, and South Point is still going strong, as proved by its recent expansion.
It is also far from the only growing venue in the city. Las Vegas has been through nearly a whole year of booming growth, and many of its casinos are using some of those bumper revenues toward improving their offerings.
As well as South Point, downtown Las Vegas’ historic El Cortez recently announced the last part of its own $20 million redevelopment.
David is an online casino expert who specializes in online slots and boasts over 10 years experience writing about iGaming. He has written for a wide range of notable publications, including eSports Insider and WordPlay Magazine.
David graduated Derby University with a BA Degree in English Literature and Creative Writing.
