South Las Vegas Strip May get New Casino
The South Las Vegas strip might be getting a new casino in the future. This follows Israeli hotel developers, Asher Gabay and Benny Zerah, completing the purchase of Motel 8. Motel 8 is a budget roadside in that sits opposite Mandalay Bay. The developers hope to build a new casino and hotel on the property.
New Casino Planned for South Las Vegas Strip
It has been reported that the motel and its land were bought for just $7.4 million. However, the current buildings will be bulldozed in order to build the new property. The developers aren’t saying much else at this time, though. They are keeping any further details about the new South Las Vegas strip casino close to their chests. They have said that they will release some further information in the next few months.
The two developers have decided to take a chance and try to develop the land. This area of the strip has never gotten that popular. Mandalay Bay and Excalibur dominate the area, but there are plenty of boarded-up buildings and abandoned lots. But the area is ripe for development. It’s not the first time it has been tried though, with many projects stalling during the 2008 recession.
South Las Vegas Strip Could See More Investment
Numerous ventures had been planned for the South Las Vegas strip before 2008 struck. Many projects simply ran out of funding and were abandoned. One such project was ‘London Las Vegas’. This was supposed to be a 38-acre hotel and casino with 1300 rooms, replicas of London’s monuments, and a giant Ferris wheel. Only the concrete pillars were built, and they remain to this day. The last new casino to open in Las Vegas was the Cosmopolitan in 2010.
But there is new development on the South Las Vegas strip, including the casino that will be built over the motel. One major benefit for the south end of the Las Vegas strip is the new Raiders Stadium that is going to be built. This could give the South Las Vegas strip just the boost it needs to kickstart significant investments.