Gaming industry experts suggest Las Vegas Strip expansion is likely
They say prospects of an MLB stadium and the Las Vegas Loop could fuel this growth.
Two gaming industry experts, Alan Feldman and John Swissman, suggested the possibility that the Las Vegas Strip could grow longer in an address to NAIOP Southern Nevada, a commercial real estate association. Feldman said it may one day extend southwards, all the way to M Resort at Las Vegas Boulevard and St. Rose Parkway.
Feldman is a distinguished fellow at UNLV’s International Gaming Institute and former executive with MGM Resorts International, while Swissman is a founding partner of Las Vegas-based Strategy Organization.
This southward extension is already happening, with Tim Leiweke‘s Oak View Group developing Blue Diamond and Warm Springs, a new resort and NBA-ready arena respectively, in this direction.
Feldman commented: “If you look at the track record that Tim Leiweke and his colleagues have, I have a feeling that we’re going to see a sort of ‘Resorts World 2’ at that part of the Strip.”
Meanwhile, Swissman said the prospect of an MLB stadium near Las Vegas Boulevard and Sahara Avenue could extend the Strip north. The Fontainebleau resort is due to open in 2023, and he also points to the second phase of building on Resorts World Casino as evidence of northward growth.
Furthermore, he refers to big plans surrounding transportation such as the Las Vegas Loop as evidence of the potential for expansion.
Swissman commented: “With the Vegas Loop being what it is and the aggressive growth plans that they have, I think the way you get up and down the Strip now will look widely different from how you do it 10 years from now.”
Feldman believes that the construction of a baseball stadium at the north end of the Strip is a strong possibility and that it could be the new home for the Oakland Athletics, saying: “Baseball stadiums, while expensive, aren’t as expensive as a brand-new hotel. I think there is a great likelihood that the A’s will come here.”
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