New Las Vegas Casino Planned by LVXP for Long-Vacant Lot

This week, there’s a new casino proposal for officials to consider in Sin City. Nevada-based real estate developer LVXP has announced its plans to develop 27 acres of currently vacant prime real estate between Resorts World Las Vegas and Fontainebleau Las Vegas on the southern end of the Strip. 

The site, 2601 South Las Vegas Boulevard, has been vacant for nearly two decades. The Wet ‘n Wild Waterpark closed in 2004, and several big projects to revitalize the lot have failed to materialize.

Most recently, former NBA star Jackie Robinson spent a decade promising funds for an All Net Arena basketball stadium and casino resort project. After 11 years of delays, Nevada regulators finally put the kibosh on that project in late 2023. 

Now, LVXP is looking to step in. The developer wants a 2,500-room luxury casino resort on the property, as well as an NBA-ready basketball arena.

“We are honored to be stewards of this significant milestone in the city’s legacy,” said  LVXP CEO James R. Frasure Jr in a press release. 

“Our commitment is to create a destination that captures the essence of Las Vegas and provides lasting benefits for the community. For me, this endeavor is more than a project – it’s a promise to uphold the spirit of innovation and enthusiasm that defines our local culture.”

The New Project 

At the moment, LVXP’s idea is just that – an idea. It has yet to provide any concrete details beyond the potential size of the hotel.

However, local reporters have discovered that part of the luxury casino resorts plans include taking over from The Strat as the tallest building in Las Vegas. And as the tallest building in the U.S. West, no less. 

The site has Federal Aviation Administration approval to build up to 1,200 feet. This was granted in 2008, but sources suggest LVXP has already inquired about resurrecting that permission.

If actually built to that height, it will comfortably be the tallest casino in the U.S, beating out the Fontainebleau Las Vegas by 735 feet. 

The History 

2601 South Las Vegas Boulevard has sat empty since 2004. It has seen three large proposals over the two decades since, not one of which has even seen real construction start. 

The Archon Corporation wanted to build a resort called Palace of The Sea in the mid-2000s. That failed, and a resort idea called Crown Vegas took over. But that was also canned by 2008.

The same developer, Christopher Milam, then tried again in 2010, with the idea for a Silver State Arena. That was canceled after Clark County wasn’t convinced to hand over 15% of the $750 million the project said it needed.

In 2013, former NBA player and Las Vegas local Jackie Robinson began his long campaign to have a casino resort and basketball arena built on the site.

The All Net Arena went through several funding stages over the next decade. But it, too, was finally canceled by county authorities in late 2023. 

Nevertheless, Clark County Commissioner Tick Segerblom is confident that the new LVXP team will deliver on revitalizing the site.

“This is a well-conceived project that has the potential to transform a valuable undeveloped land parcel into a highly productive destination that contributes meaningful long-term value to the community and visitors alike,” Segerblom said in the statement from LVXP. 

Meanwhile, Las Vegas’ newest giant casino resort, which overlooks the vacant lot, is reportedly not doing so well. The Fontainebleau Las Vegas opened in December 2023, after a decade of delays. It is currently embroiled in a costly legal dispute with Wynn Resorts over employee poaching allegations, and it recently significantly downgraded its casino rewards program

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