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Tag: Las Vegas resort

  • Wynn, Caesars Price Fixing Case Tossed Out • This Week in Gambling

    Wynn, Caesars Price Fixing Case Tossed Out • This Week in Gambling

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    It was back in April of this year that we first reported on the allegations of Caesars price fixing. The company, along with Wynn and a few others, had a lawsuit filed against them over supposed collaboration via a “third-party software” as a way to manipulate and artificially inflate the rates charged for their hotel rooms. Supposedly, these accusations were being investigated by the Antitrust Division of the US Department of Justice, as well as the Federal Trade Commission, over hotel rates charged in Nevada, New Jersey, and other states.

    Now a judge has dismissed the class-action lawsuit which made claims of Caesars price fixing, along with several other major hotels. Chief US District Judge Miranda Du in Las Vegas ruled that the plaintiffs failed to demonstrate any agreement among the hotels to fix prices. This decision marks the second dismissal of the lawsuit, following a previous ruling allowing the plaintiffs to revise their case. In her latest order, Judge Du outright dismissed the lawsuit outright.

    Last year, consumer plaintiffs sued Wynn Resorts, Caesars, Treasure Island, and others, alleging they used a revenue platform by tech company Cendyn to unlawfully coordinate room prices, violating US antitrust laws. The lawsuit claimed the hotels exchanged competitive, sensitive information not typically disclosed. Judge Du clarified in her ruling that the hotels were not obligated to accept pricing suggestions from Cendyn’s algorithm and had not agreed to limit their ability to set room prices.

    Despite this, recent policy statements from the US Department of Justice have supported the plaintiffs’ arguments of Caesars price fixing, among others. Wynn, Blackstone, and the other defendants either declined to comment or did not respond immediately to requests for comment following the ruling. All have previously denied any wrongdoing. Cendyn welcomed Judge Du’s decision to dismiss the lawsuit with prejudice in a statement. Plaintiffs’ lawyer Steve Berman stated they were considering their next steps, including a potential appeal.

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  • Details on Amazing New Las Vegas Resort • This Week in Gambling

    Details on Amazing New Las Vegas Resort • This Week in Gambling

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    Can a new Las Vegas resort become the tallest, most luxurious in all of Sin City? The folks at LVXP real estate development seem to believe so! And they have plans to build a new, multibillion dollar complex on the north end of the Strip!

     

    You know, Vegas is always changing. We just said goodbye to the Tropicana. The Mirage Volcano is on its way out. But at the same time we’ve recently welcomed Fontainebleau and the Durango Casino. And now this: Plans have been announced for a new destination Las Vegas resort on the North End of the Strip where the old Wet and Wild waterpark used to be located. And while we don’t yet know the name of this new hotel, here’s what we do know.

    Developer LVXP has plans for what they are calling an ultraluxury, multi-billion dollar resort, and they’re working with renown Las Vegas architects Steelman Partners, who also designed the Circa in downtown and the Crockford’s Resort at Resorts World. Pans for this 27 acre parcel include a 2500 room hotel with a casino and a 20,000 seat arena. And while there are no official renderings of what this new Las Vegas resort will look like, it will have retail shops, a variety of dining options, underground parking, and even an NBA ready Arena… you know, just in case the city gets a basketball team.

    It would also be the tallest building in Las Vegas, and the city’s only seven star resort! Geez! Seven stars? I didn’t even know they went that high! Now, we’ve all heard these stories about new, amazing Vegas resorts before. Some of them happen, but a lot of them don’t. So how serious is this developer about this project? Well, they’ve already paid off the $20 million lean on the property, if that’s any indication. LVXP plans to submit permit applications to Clark County this summer, and hopes to break ground in early 2025.

    And while we’re on the topic of a new Las Vegas resort, whatever happened to Dream Las Vegas? We recently visited the construction site for the Dream Las Vegas project again. When we were there last year, construction was completely stopped. And today, construction is completely stopped. However, it did look a lot different than what we saw last summer. Some progress had been made, but the question that you may be wondering is, will Dream Las Vegas ever really happened? Will it finally come together? Where are they with the financing? And why has construction stopped again?

    Dream Las Vegas broke ground back in 2022, after being delayed by the pandemic. Plans were to build a 530 room hotel with fine dining, nightclubs, a convention center, and a 20,000 square foot casino. Last summer when we visited there was no one working, and all activity had stopped. Reports were that the developer owed close to $30 million. However, in January of this year word came that new financing had been secured, and that construction would begin again in the spring.

    When we returned to the site this year, some progress had been made. However, once again there was no one working, and all activity had stopped. It’s difficult to say if this project will ever be completed, as the developer has been slow to share information and does not respond to emails or phone calls. We’ll keep an eye on the site and an ear open for updates, but for now the “dream” of this amazing new Las Vegas resort is beginning to look like a giant nightmare.

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  • Multibillion Dollar Luxury Las Vegas Resort Planned • This Week in Gambling

    Multibillion Dollar Luxury Las Vegas Resort Planned • This Week in Gambling

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     May 2, 2024



    Just when you think things can’t get any bigger, a new multibillion dollar luxury Las Vegas resort is in the works. And this one is special for many reasons. It could be one of the most extravagant the city has ever seen, as well as one of the tallest buildings in Nevada.

    LVXP, a prominent Las Vegas real estate developer, is moving forward with the luxury Las Vegas resort, which could become the tallest resort in the city, sitting where the 27-acre Wet ‘n Wild waterpark used to be. The project is described by the company as a ultra luxury destination with 2,500 rooms.

    The land in question has previously been the subject of other proposed ventures, including the Jackie Robinson All Net NBA Arena project. With ongoing discussions surrounding the potential introduction of a professional basketball team to the city, a cutting-edge NBA-ready arena within this resort complex is being considered.

    Developers have already reached out to the renown Las Vegas-based architectural firm, Steelman Partners. They have designed iconic casinos and resorts worldwide, including Circa in downtown Las Vegas and Crockfords resort at Resorts World on the Strip. Leadership at LVXP asserts that this establishment will set a new standard as the city’s premier seven-star property.

    Envisioned as a comprehensive luxury Las Vegas resort, the project is slated to feature a full-fledged casino, an expansive arena capable of accommodating up to 20,000 attendees for concerts and sporting events, technologically advanced guest rooms, an array of retail outlets and dining options, underground parking facilities, and a convention center.