Elvis Casino slated for Vegas
29th March, 2008
An Elvis Presley-themed casino is to be developed in the Las Vegas Strip, Fox News has reported.
Plans for the 18-acre site have been drawn up by FX Real Estate and Entertainment, but the company insists the project will depend on capital being raised through debt and equity financing.
And with a $3.1 billion (£1.5 billion) price tag that excludes land costs, financing and additional pre-opening costs, some analysts have called the viability of the project into question.
FX remains undeterred however, insisting that the casino gambling facility would prove to be a cash-cow for investors given its focus on the "upper strata of the luxury market".
The Elvis-inspired casino and resort will feature some 2,269 hotel rooms as well as a 93,000 sq ft casino, located in plush surroundings directly opposite the CityCenter development.
If approved, construction of the site will begin in the first quarter of 2009 and the development has a tentative completion date of late 2012.
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By Elena
