Home » VT News » New Frontier Sold - Hello Project Plaza Center

New Frontier Sold - Hello Project Plaza Center

By Chuckmonster on Wednesday, 16th May 2007 11:17am
  » filed under Mergers & Acquisitions  comments: 0


It looks like Elad Group bought the New Frontier (finally). Here's the AP Report:

Commercial real estate development firm Elad Group, which owns New York's Plaza Hotel, said Wednesday it is developing a $5 billion multi-use complex on the Las Vegas Strip under The Plaza brand.

The Plaza Hotel was closed in 2005 to create a mixed-use property consisting of condominiums, retail space and some hotel rooms.

The Las Vegas Plaza will contain a luxury hotel, private residences and restaurants, as well as retail, convention and gaming space. It will sit on a 34.5-acre site currently occupied by the New Frontier & Casino, which will be demolished early next year. The complex will be directly across from the Wynn Las Vegas and the Anchor, Wynn Resorts Ltd.'s newest property.

Elad Group President Miki Naftali said in a statement the company plans to bring the Plaza brand to other cities, including Los Angeles, San Francisco, Washington D.C., Boston, London, Paris, Rome, Tokyo and Shanghai.

Construction of the Las Vegas Plaza is expected to take three years, with an official opening targeted for 2011.

More at Review-Journal and Reuters.



Comments & Discussion:

» No Guts, No Glory... Be The First to Post

Comments Are Closed

Subscribe via RSS

Recent Comments:

michigan2010 posted: "MGM equals cookie cutter casino. No to reason to step foot in Bellagio again. Just hope they don't screw up..."
» Sayonara Bellagio Table Game Canopies...
saharalv posted: "I wish the editors were the entire electoral college in 2016...."
» Introducing the Trippies Class of...
fatbastard posted: "So many people letting a billionaire live rent free in their heads. Funny. Too bad it also detracts from the..."
» Introducing the Trippies Class of...
wpsteel66 posted: "Total bummer…talk about taking the class and uniqueness away from the Bellagio…another smart move on CEO Jim and making all..."
» Sayonara Bellagio Table Game Canopies...
damania posted: "Is there a podcast?..."
» Introducing the Trippies Class of...

» More Comments