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Question of the Day - 26 March 2007

Q:
Can you give us a round-up of all the casinos that are under construction in Las Vegas at the present time?
A:

Happy to oblige. Here’s the list, from south to north.

Work continues at the Aladdin/Planet Hollywood, as the rebranding project inches its way to completion. The front of the property is being transformed, with the exterior still changing. The Desert Passage Mall is also being rebranded as the Miracle Mile, and the 50-story Planet Hollywood Towers, a joint-venture condo-hotel with Westgate Resorts, is rising just south of the hotel.

Across the Strip, the Cosmopolitan is going up just south of Bellagio. This $1.8 billion 3,000-room condo-hotel-casino is on schedule for a 2008 opening.

From the Cosmopolitan all the way to the back of the south end of the Monte Carlo, MGM Mirage's massive Project CityCenter is under construction. We've written about this many times, but the $7 billion metaresort consists of eight towers straight out of a sci-fi movie. It’s scheduled to debut in November 2009.

Next door to the Venetian, the $1.8 billion Palazzo is the one big casino that will open this year, sometime in December. The 3,025-room megaresort will be connected to the 4,027-room Venetian to become the first metaresort in Las Vegas. A 270-unit condo tower is also being built on the Strip near the Palazzo main entrance.

Next door to Wynn Las Vegas, the $1.7 billion 2,050-room Encore is rising on the site of the Desert Inn (the last of the DI buildings, a parking structure, was just imploded to make room for the casino). It's on schedule for a late 2008 grand opening.

Across the Strip, the implosion of the Stardust marks the very beginning of the construction of the Boyd Corp.'s $4 billion Echelon Place metaresort, scheduled to open in 2010 or 2011.

Not too much has been said about it recently, but work has started on the $1.5 billion 4,000-room Fontainebleau Hotel-Casino, on the site of the old El Rancho Vegas (in front of Turnberry Place, which is building it). The site is being excavated and the first pilings are now in place.

Downtown, the Lady Luck remains shuttered; the developer keeps threatening to begin work on its renovation, but so far nothing has happened.

Finally, the $600 million 202-room Aliante Station, Station Casinos' next casino project, has just broken ground in North Las Vegas. It's slated for completion in late 2008.

Update 01 May 2005
Nearly all of these projects have experienced budget increases in the past year. Most dramatic is the Cosmopolitan, now budgeted at $3.9 billion and far from finished. Palazzo opened on Dec. 30, 2007.
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