The Vegas Fashion Mall May Soon Host a Casino

Article by : Erik Gibbs Oct 9, 2023

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A new entertainment division under Howard Hughes Holdings is considering the development of a new casino on the Las Vegas Strip that could rise above the Fashion Show Mall.

The Las Vegas Strip, covering only 4.2 square miles, has limited open space for new development, especially in the heavily concentrated south and central sections where Caesars and MGM have established their resort casino properties.

While some remaining open land in the north Strip, it’s still being determined whether this area can become as appealing as the south and central sections, despite Resorts World Las Vegas and Fontainebleau Las Vegas opening in the vicinity.

Given these constraints, any available buildable site in the south or central Strip is precious.

Some companies have had to make unconventional decisions to create new properties. For instance, despite its unpopularity, Hard Rock International will replace the iconic Mirage Volcano with its signature guitar hotel.

An alternative would have been to demolish the main Mirage towers, leaving the company without revenue while spending potentially over $1 billion on the new hotel and casino.

The Tropicana, the second-oldest resort casino on the Strip after Caesars’ Flamingo, is also set for demolition to create a new baseball stadium for the soon-to-be Las Vegas Athletics.

When disposing of a property is not an option, building upward becomes a viable alternative. This approach is employed at the Casino Royale/Best Western property, situated amid several Caesars Entertainment properties.

The casino hotel owners have recently received FAA approval to construct a 699-foot tower in the area, with a deadline of January 21, 2025, to complete the project, or the FAA’s approval will expire.

This same “go tall” strategy will be used at another iconic site on the Las Vegas Strip that is slated for the construction of a new casino.

Fashion Show Mall, an iconic fixture of the Las Vegas Strip since its opening in 1981, has enjoyed enduring success and remains the largest mall in Las Vegas.

Its ownership now rests with Howard Hughes Holdings, which is unveiling new plans for the property through its recently established division, Seaport Entertainment. This division encompasses various entertainment-related assets in both New York and Las Vegas.

In Las Vegas, these assets include the Seaport in Lower Manhattan, the Las Vegas Aviators Triple-A Minor League Baseball team, the company’s ownership stake in Jean-Georges Restaurants and the interest in the air rights that rise right above Fashion Show Mall.