Details have been leaked about the much anticipated Ālon Las Vegas casino resort to be built on the Las Vegas Strip. The project is being headed up by Australian James Packer and former Wynn Resorts president Andrew Pascal. The development will be located on a 35 acre parcel next to the burgeoning Resorts World Las Vegas and across from Wynn Las Vegas. The New Frontier stood on the site before being demolished in 2007.
According to local reports details came out after Ālon Leisure Management LLC filed papers with the county for various permits and land entitlements. The partnership includes Packer and Pascal as co-chairs along with investment firm Oaktree Capital Management as an equity partner .
Pascal, the former president of Wynn Resorts and nephew of co-founder and former board member Elaine Wynn, was reportedly not happy that plans leaked before the company was ready to unveil the project themselves.
No cost estimates or details beyond a room count of 1,100 over two towers and, “…a full complement of integrated resort offerings,” were offered at the time but Pascal indicated that more would be revealed “next month”.
“We are building a team of seasoned industry operators, entrepreneurs and global designers who bring a fresh, new approach to what we think the future of Las Vegas should be,” Pascal said.
Former President Rob Osleand of SLS Las Vegas announced he was joining Ālon Las Vegas when he left his position in October.
“Rob and I have worked together for over 25 years,” said Pascal. “We have put together a tremendous team.”
In 2007 the 35 acre parcel along with the New Frontier casino was purchased by two Israeli companies for over $1.2 billion with plans to build a $5 billion hotel casino, but the economic downturn scuttled the project.
After previous attempts to enter the Las Vegas market Packer finally succeeded with a $260 million stake in the Strip property. When the partnership was announced in August 2014 it was revealed that construction would begin this year with an estimated completion date of 2018. According to trademark filings in April 2014, it appears the resort was originally planned to be dubbed, “Élan Resort & Casino“, a supposed reference to Pascal’s revered aunt Elaine Wynn. The trademark has since been abandoned. Elan Las Vegas Holdings LLC, with the Pascal Family Trust listed as the sole principal was dissolved in 2014 as well.
Adjacent to the Ālon Las Vegas site is the former work in progress, Echelon. That development was stopped in its tracks by the recession as well but has since seen a purchase by Malaysia-based Genting Berhad. Ground was broken there in May on Resorts World Las Vegas, a $4 billion mega-resort.