Las Vegas watchers will be particularly excited about the recent annoucement that Crown Resorts plans to develop the former Last Frontier land on the strip. While Phil Ruffin collects income from Treasure Island, he must watch with some interest how the land he sold for $1.2 billion has sat vacant for several years, and is now being developed at a valuation probably 1/4 of what he got for it.
Now, Australian billionaire James Packer and Crown Resorts will take a leap by developing the site into a integrated resort with the help of some former Wynn execs. What should be of main interest to Vegas watchers though should be how the north end of the strip is filling in. I wonder what this latest development means for the Fontainebleau development that still sits idle nearby. With new developments happening in the neighbourhood including Resorts World, and the Rock in Rio festival space planned for the corner of Sahara/LVB. Add the SLS opening to the mix of new developments, and it seems the north end of the strip will be where the action is.
