Echelon Place
| Echelon Place | |
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| Echelon Place construction site, February 2013 | |
| Location | Las Vegas Strip |
| Casino type | Land-based |
| Owner | Boyd Gaming Corporation |
Echelon Place was an unfinished hotel, casino, shopping, and convention complex on the Las Vegas Strip, developed by Boyd Gaming. It was to be a multi-use project on 87 acres (35 ha) with a 140,000 sq ft (13,000 m2) casino, 4 hotels providing 5,300 rooms, 25 restaurants and bars, and the 650,000 sq ft (60,000 m2) Las Vegas ExpoCenter. The Echelon Resort would have been a 3,300 room hotel owned and operated by Boyd; other hotels were expected to be a Shangri-La Hotel, a Delano Hotel, a Mondrian Hotel, and the Echelon Tower.
Construction of the project was suspended on August 1, 2008 due to the effects of the Great Recession.[1] In March 2013, the Genting Group bought the site, with plans to develop it as a 3,500-room hotel and casino named Resorts World Las Vegas.[2]
History
Boyd Gaming acquired several properties to build the resort. It acquired the Budget Suites adjacent to the Stardust site and the land between the Stardust and the Westward Ho. On October 2, 2006 Boyd Gaming acquired 24 acres (9.7 ha) of land adjacent to the site from Harrah's Entertainment in exchange for the Barbary Coast Casino.
Boyd Gaming announced the Echelon project on January 4, 2006, to replace the Stardust Resort & Casino.[3] On November 1, 2006, the Stardust was closed and was imploded on March 13, 2007. The cost of the new resort was estimated at $4 billion, with construction beginning in 2007, and opening initially planned for 2010.[4]
On August 1, 2008, Boyd Gaming announced that construction would be halted for 3 to 4 quarters due to economic conditions.[5][6] Amid falling profits in 2009, Boyd announced that the project would be suspended for at least three to five years.[7]
As late as 2012, Boyd Gaming stated that it still hoped to finish Echelon Place and that it was determined to have a place on the Las Vegas Strip. It received an extension until 2018 from Clark County to finish the project.[8] However in March 2013, Boyd sold the Echelon site for $350 million to the Genting Group, a Malaysia-based gaming company. Genting announced plans to develop the site as Resorts World Las Vegas, with construction beginning in 2014.[9]
Proposed facilities
- Mondrian at Echelon: A 50% joint venture with Morgans Hotel Group 860 room hotel.[10][11]
- Delano Hotel: A 50% joint venture with Morgans Hotel Group 550 room hotel.[10][11]
- Echelon Resort Tower was to be the main tower. It is also known as Hotel Echelon.
- Echelon Suite Tower: All suite tower also known as the Enclave.
- The Shangri-La Hotel Las Vegas: The fourth North American venture for Shangri-La Hotels and Resorts
- Las Vegas Expo Center: Planned 750,000 sq ft (70,000 m2) convention center and associated meeting space.[11]
- Shopping promenade: A 400,000 sq ft (37,000 m2) shopping center being developed with General Growth Properties at a cost of $500 million.[10][11]
- Casino: Planned 140,000 sq ft (13,000 m2) casino.
References
- ↑ "UPDATE 2-Boyd Gaming swings to Q1 profit; sees growth in H2". Reuters. 4 May 2010.
- ↑ Howard Stutz (March 4, 2013). "Genting goes all-in - plus some pandas - for Asian-themed Las Vegas resort". Las Vegas Review-Journal. Retrieved 2013-07-12.
- ↑ Smith, Rod (January 4, 2006). "Boyd Gaming Corp. eyes luxury market with 5,300-room resort: Echelon Place". Las Vegas Review-Journal.
- ↑ Friess, Steve (2007-03-14). "Aging Resort Demolished to Make Way for a Young One". The New York Times. Retrieved 2007-03-14.
- ↑ "Boyd Gaming suspends construction work on Echelon project". Las Vegas Review-Journal. August 1, 2008.
- ↑ Robinson, Jennifer (August 2, 2008). "SOUTHERN NEVADA ECONOMY: Analysts' projections sour". Las Vegas Review-Journal.
- ↑ Spain, William (Oct 27, 2009). "Boyd profit falls with Vegas; Echelon project still on hold". MarketWatch. Retrieved 2009-11-19.
- ↑ "County commissioners give Boyd extension to finish project". News 3. 2012-07-19. Retrieved 2013-07-12.
- ↑ Howard Stutz (March 4, 2013). "Genting goes all-in - plus some pandas - for Asian-themed Las Vegas resort". Las Vegas Review-Journal. Retrieved 2013-03-05.
- ↑ 10.0 10.1 10.2 "Echelon casino in Las Vegas to cost Boyd $4.8 billion". KVBC. 2007-06-19. Retrieved 2008-01-29.
- ↑ 11.0 11.1 11.2 11.3 Velotta, Richard (2007-06-19). "Echelon off to smashing start". In Business Las Vegas. Retrieved 2008-01-29.
External links
Coordinates: 36°8′2″N 115°10′4″W / 36.13389°N 115.16778°W
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