Ground Broken On New $550M Las Vegas Hotel

A new 20-story hotel-casino is coming to the south end of the iconic Las Vegas Strip.

On Friday, ground was broken on the upcoming Dream Las Vegas. The 531-room “lifestyle hotel and casino” will include a 20,000-square-foot gaming floor.

The project is being developed by Shopoff Realty Investments and Contour, in partnership with Dream Hotel Group. The property is expected to open in late 2024.

The groundbreaking ceremony featured Gov. Steve Sisolak, Clark County Board of Commissioners Chairman James Gibson and Lt. Gov. Lisa Cano Burkhead as speakers, along with developers William Shopoff and David Daneshforooz, Dream Hotel Group CEO Jay Stein and COO Michael Lindenbaum, and McCarthy Building Companies’ Senior VP Ross Edwards.

The new Dream Las Vegas hotel and casino is expected to generate “significant tax revenue” and create 4,000 new direct and indirect construction jobs, according to a presser.

“The Dream Las Vegas development is a great investment in our local economy – to boost tourism and create thousands of new jobs,” said Gov. Sisolak in a statement. “I’m excited to see the resort come to life in 2024, offering even more first-class amenities and service, and extending our State’s long history as a leader in hospitality and tourism.”

According to local officials, the project will be a game-changer for the South Strip.

“The great thing about this development is that it helps us finish off an important part of the Boulevard that all of us have seen undeveloped for so many years,” added Commissioner Gibson. “Finally, we have an opportunity to complement all the little things that have been going on and this is enormous for us. The economic value of this project far exceeds the $550 million investment.”

Located at 5051 S. Las Vegas Blvd., across the street from Mandalay Bay Resort and Bali Hai Golf Club, Dream Las Vegas will be one of the first hotel properties seen from the Welcome to Las Vegas sign. The property will also be two blocks from Allegiant Stadium and T-Mobile Arena.

Casino and gaming operations will be led by Peninsula Pacific Entertainment. A poker room is not currently part of the plans, and it’s unclear if there will be a sportsbook.

 

 

 

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