Israeli billionaires to build a Las Vegas casino

Nochi Dankner and Yitzhak Tshuva agreed to develop a Las Vegas hotel and casino complex.

The new Las Vegas casino is estimated worth over $7 billion and will take the place of the current New Frontier Hotel in Las Vegas. The casino project will be a joint venture between IDB Development Corp. and Elad Group. The Plaza project will include a casino, a 3,500-room hotel, apartments and shops.

Elad purchased the property, which they call "last available prime parcel'', for $1.2 billion in the middle of May this year. Elad expects the project to open for business in 2011 with demolition of the New Frontier scheduled for early 2008.

Published on 06/10/2007