Whatever became of Elad Properties‘ metaresort-sized Plaza project, built upon the ruins of the New Frontier? Reed Construction Data Project Research claims it’s on. Never mind that Elad’s not put so much as a shovel into the ground … or that the budget for the seven-tower “failsino” is listed by RCD at a preposterously inadequate $1 billion.
If Elad provided that data, it’s not the only casino developer who’s been snorting some of Sportin’ Life‘s “happy dust.” Casinos have yet to be approved, in any form, in Massachusetts and yet there’s Mohegan Sun announcing a $1 billion resort in the Palmer area. The recently ashcanned Aqueduct project, which involved Vegas-based Navegante Group, is still on the list (also budgeted at $1 billion).
Olympia Gaming‘s Southern Highlands Resort, slated for a site immediately north of M Resort and unheard from in ages, is said to be in the design phase and slated to cost $750 million. Heck, even Harrah’s Entertainment‘s $700 million Margaritaville failsino in Biloxi makes to the Top 10. Evidently RCD didn’t get the memo about the construction cranes being removed from the site.
Almost every megaresort project on RCD’s list involves some defiance of reality or has been rendered obsolete by events. As a prospectus for a recession-free parallel universe, though, it’s jim dandy.
Huge congratulations to Harrah’s by the way, for its receipt of a WasteWise award from the Environmental Protection Agency. The WasteWise honor goes to companies that go above and beyond what’s required in waste reduction. Paris-Las Vegas and Bally’s Las Vegas were recognized for recyling 106 tons of paper, plastic and glass. Job well done, guys — and thank you.
