International hospitality giant Genting Group has announced a deal with Boyd Gaming Corp. to purchase the land and assets, including partially built structures, of the stalled Echelon casino-resort in Las Vegas. The company will pay Boyd $350 million for the 87-acre property, according to the Las Vegas Review-Journal.
Genting, which owns and operates properties in Malaysia, Singapore, and New York City, is planning to build a $2 billion hotel-casino development, called Resorts World Las Vegas, that will feature 3,500 rooms, a 175,000-sf casino, convention space, and some 200,000 sf of retail and restaurants.
The plan includes completing many of the partially built structures on the site, including hotel structures and a parking garage. It's expected to open in 2016.
The development is the second major Las Vegas construction announcement in the past month. In last February, SLS Hotels broke ground on a $415 million makeover of the Sahara Hotel, which closed in 2011 after nearly 60 years on the Strip.
Related Stories
| Jun 27, 2012
HDR opens office in Beijing
The Beijing office is HDR’s second location in China; the firm’s other office is in Shanghai.
| Jun 27, 2012
KBE Building wins honor for Armed Forces Reserve Center
The construction phase was completed in just 16 months.
| Jun 27, 2012
SOM’s Baker receives honorary doctorate in engineering from Heriot-Watt University
Baker recognized for his career and influential contribution in the field of structural engineering.
| Jun 25, 2012
Living green wall planned for InterContinental Chicago
Project, with price tag of $2 million to $3 million, needs council approval.
| Jun 25, 2012
AIA-NJ honors DMR Architects
The academic building, completed in 2009, provides classrooms, computer labs, faculty offices, and meeting spaces for the College, which has a steady 7% annual increase in enrollment.
| Jun 25, 2012
Thornton Tomasetti appoints Hofmeister and Zhu to board of directors
The addition of Hofmeister and Zhu brings the number of directors to 10.
| Jun 22, 2012
Golden Gate Bridge Celebrates 75 Years With the Opening of New Bridge Pavilion
With features such as Nichiha's Illumination series panels, super-insulating glass units, and LED lighting, the new Golden Gate Bridge Pavilion not only boasts the bridge's famous international orange, but green sustainability as well
| Jun 19, 2012
Energy and Commerce Departments Announce New Centers for Building Operations Excellence
Part of Better Buildings Initiative, Centers Will Focus on Energy Efficiency Workforce Development for Building Operations Professionals
| Jun 15, 2012
Beck Group/Atlanta wins AGC Build Georgia Award
Site-specific safety plan, BIM analysis and third-party structural review contributed to successful implementation.
| Jun 15, 2012
Baldwin joins Charlotte office of Perkins Eastman as principal
Experience in healthcare planning and design to expand national healthcare practice in South and Mid-Atlantic.