New casino-arena project to be developed by Oak View Group on the south Strip
A former co-CEO of the Vegas Golden Knights will help oversee the latest project.
Oak View Group is due to being developing a new casino project on the south Strip. Developers include William Foley, owner of the Foley Entertainment Group, as well as the Las Vegas Raiders’ former president.
The former president is Randy Morton, who joined Foley about a year ago. Morton also spent twenty years as a Bellagio executive. Now, as president of OVG Las Vegas Hotel & Casino with Oak View Group, the group plan to build a $3bn entertainment complex around a $1bn, the 20,000-seat arena at Las Vegas Boulevard and Blue Diamond Road.
Marc Badain, a Raiders executive who helped relocate the team and was a key figure in building the $2bn Allegiant Stadium, is also a key part of the project.
Wynn Macau Senior Vice President of Finance Patrick Crockett will serve as the project’s financial consultant. Crockett recently served as Senior VP of Finance at the Wynn Macau resort in China. He also worked in multiple finance leadership roles with MGM Mirage at CityCenter, Bellagio and The Mirage.
As Morton told the Las Vegas Review Journal: “I’m thrilled to join the team at Oak View Group and work alongside Marc. As soon as [Oak View Group CEO] Tim [Leiweke] shared his vision for the Las Vegas luxury boutique hotel and casino with me, not only did I know it was going to be big, but I knew I wanted to be involved.”
The Oak View project was announced in late March and the expected completion date is set for no later than 2026.
Badain, who left the Raiders to help with the project, said: “Adding Randy to the team continues to show the commitment that (Leiweke) and Oak View Group have made to this transformative project.”
Executives expect the project to take 30 months to complete and will break ground on the project in 2023. The building is set to be placed on 25 acres of land purchased by the group.
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