Australian gambling mogul James Packer is making plans to open a new casino in Las Vegas. Named Alon Las Vegas, the new property will be a multi-billion casino resort that brings a new leisure experience to the Las Vegas Strip. In 2014, James Packer has purchased a 24.6-acre parcel of land across from Wynn on the North end of the Las Vegas Strip.
At the time, he had not announced any particular arrangements for the land, but is now making his plans public. According to a report in Las Vegas Chatter, he will be building a $4 billion casino resort on the land with a 1100-room hotel. Packer plans for the casino resort complex in 2018, but no other details have been revealed.
“Central to our vision for Alon is the careful consideration, creative exploration and uncompromising execution of the resort experience,” reads a statement from Alon, this development company that will be bringing the vision to life. “We are building a team of seasoned industry operators, entrepreneurs and global designers who bring a fresh, new approach to what we think the future of Las Vegas should be.”
This is one of several Las Vegas properties that Packer has planned in recent years. In 2007, he proposed the Las Vegas Tower, which was originally planned to stand 575 metres tall before planning committees cut it town to 324 metres. By 2011, the project was cancelled. In 2014, Crown showed interested in acquiring The Cosmopolitan Casino from Deutsche Bank.
However, he was outbid by a development company called Blackstone. Now seems to be the ideal time for Crown to enter into the American land-based gambling market. As Las Vegas finally begins to see from recovery from the economic recession, casinos are starting show impressive profits once again.