Elvis Has Not Left The Building

Published on: March 28, 2008 

FX Real Estate and Entertainment has announced that they are going to move ahead and continue their development plans to construct a casino on the Las Vegas Strip dedicated to…who else?  Elvis Presley.  One of the biggest names in rock’n’roll history and surely one of the most impersonated celebrities of all time – especially in Vegas – it almost seems as if this particular casino and resort centre is long overdue in the city of lights.

The new casino would be located on the 18-acre lot across from the CityCenter development if FX can raise the construction capital through debt and equity financing.  FX already owns the eighteen acres.  Several retail stores and restaurants, such as the Harley-Davidson Café and Smith & Wollensky, occupy the site and are paying FX rent, generating close to $21.4 million income each year.  These businesses would be shut down or relocated if the casino project is approved.  The project is an estimated $3.1 billion and that figure does not include land costs, financing, and additional costs that may arise.  FX would not add any additional comments about the financing or the budget other than to say that the casino and resort would be in line with other Las Vegas establishments and cater to the ‘upper strata of the luxury market’.   

If FX’s plans are approved and the financing is in place, construction on the Elvis themed casino would start sometime in the beginning of 2009 and be complete by 2012.  The complex would hold a luxury 2,269 room hotel, 93,000 square foot casino all operated by FX, and a separate 778 hotel rooms, and 147 condominiums that would operated with a joint partner who has not yet been named.  There would also be a 206,000 square foot convention centre, retail stores, restaurants, and showroom.

In addition to all to of the luxury hotel accommodations, the casino and resort would be attractive to anyone looking for that special Elvis-themed wedding.  The complex would also include wedding chapels, bridal and flower shops, and a separate wedding and banquet area.  FX has a licensing agreement in place with Elvis Presley Enterprises that is allowing them to use ‘The Kings’ persona and name in this venture.  An interactive Elvis experience, boutique, and Elvis souvenirs will also be available for tourist purchase.

With Las Vegas being such a popular haven for Elvis Presley impersonators, chances are they are already lining up to audition for shows at the proposed Elvis themed casino.  You can bet there’s a whole lot of shaking going on.

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