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More Evidence Strip Plaza Is Postponed

By Chuckmonster on Thursday, 24th April 2008 6:20pm
  » filed under Las Vegas  comments: 4

   

Elad Las Vegas Plaza Postponed

Israeli newspaper Haaretz is reporting that Elad Properties (owned by Yitzhak Tshuva and Nochi Dankner) has put the brakes on on the Strip Plaza. There have been many on-again-off-again-on-again reports coming out about the status of the Strip Plaza (built on the dust of the New Frontier) but this seems to be pretty much a confirmation that it is off - at least until the credit markets rebound.

For the time being, progress on the Las Vegas Plaza, another Tshuva-Nochi Dankner project, is also suspended. The Las Vegas Plaza is set to be the most glittery hotel in the gambling town, with construction costs estimated at about $1.2 billion. The partners prefer to wait for a lull in the markets and another cut in US interest rates before construction commences, especially since they are still waiting for some of the necessary licensing.

Elad is currently looking at 2009 for commencement of construction - a relatively elastic date based on financing and other financial factors.

On a related note: I think I've figured out a solution to the Downtown Plaza/Strip Plaza name issue, and it all lies in pronunciation.

It's simple : the Strip Plaza should be pronounced "Ploh-zuh" while the Downtown Plaza should be pronounced "Plaz-uh".

You say 'plohzuh', I say 'plazuh'... let's call the whole thing off (rim shot).

Thank you, you're a great crowd!



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Comments & Discussion:

 vespajet posted on Friday, 25th April 2008 - 3:52 pm

At this point, he's my odds:

The Strip Plaza will be built: 10-1
The land will be sold off: 4-1
They will sell the land to Trump: 100-1
They will sell the land to Steve Wynn 25-1
The Plaza Downtown Wins Name Lawsuit 10,000-1

 Atltrainman posted on Sunday, 27th April 2008 - 3:40 pm

If they didn't have the money and licenses ready to go then why did the idiots Implode the Frontier? They should have keep it running, earning money, until they were absolutely ready to begin construction.

 Chuckmonster posted on Sunday, 27th April 2008 - 3:45 pm

Elad doesn't/didn't have a gaming license, therefore they had to close it. They could've hired a sub contractor operator like hardrock and the plaza/lv club though.

 Atltrainman posted on Sunday, 27th April 2008 - 11:26 pm

Which is better for Vegas, having the Frontier open and operating (even with a contract casino operator) or having a multi acre patch of desert sand right in the middle of the strip?

I still say the Frontier should have been kept open until they had all their ducks in a row to begin construction.

I guess we should be thankful that they had the money to remove the Frontier after they closed it instead of letting it rot like they did when the Klondike was closed.



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