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June 29, 2019 | CDC Gaming Reports | Buck Wargo
A Las Vegas Strip site, once planned for an Elvis Presley-themed resort, has been sold for $172 million and will be developed for retail, entertainment and dining. Gindi Capital, a New York-based investment company and co-owners of the nearby Showcase Mall north of the MGM Grand Las Vegas, announced Friday it was acquiring 9.5 acres from FX Luxury Las Vegas, an affiliate of Spectrum Group Management, for $18 million an acre. The original owners, who planned the Elvis casino, forfeited the land to lenders when the Great Recession hit a decade ago. The site has the Hawaiian Marketplace and retail shops at 3743 to 3759 Las Vegas Boulevard with 700 feet of street frontage.View Article Newsroom