Las Vegas sees a lot of projects get announced with great fanfare that never actually get built.
That's partially because it's very expensive to build on the Strip and a lot can go wrong between announcing a project and finishing it. Many Las Vegas Strip ideas never get past the press-release stage.
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A company sometimes makes an announcement as a way to help it raise funds. That has always been a dicey proposition, and it's one that has gotten even harder in the current higher interest-rate environment.
Some projects actually break ground and even make progress toward completion before they grind to a halt. That's what happened at Fontainebleau Las Vegas, a North Strip property that has literally undergone a nearly 20-year construction odyssey.
That casino, however, miraculously appears to be back on track and set for an unlikely opening later this year. But another stalled project -- Dream Las Vegas, a boutique resort on the Strip near Harry Reid International Airport -- has seen all construction stop over funding issues.
Until something opens on the Las Vegas Strip, it's not real. When a project can run hundreds of millions of dollars over budget, like Sphere Entertainment's (SPHERE) -) about-to-open concert venue, it's easy for things to fall apart.
When no ground has been broken and now actual work has been done, however, that makes the project more an idea than a reality. One such project, an NBA-ready arena to be built on land on the North Strip between the Sahara and the Fontainebleau appears in jeopardy. Reason: It's about to move past a deadline set by Clark County.
Image source: MSG Sphere Las Vegas
All Net Arena has not begun construction on the Las Vegas Strip
The All Net Arena, led by former NBA player Jackie Robinson (no relation to the famous baseball player) has been in the works since 2013. It has appeared on the verge of being called off (or really just not started) multiple times, but Robinson has continued to insist that it will be built.
"Last year the Clark County Commission gave Robinson a final extension on the project’s land use permit that mandated that work on the arena-hotel project had to be underway. That deadline is up on Wednesday (Sept 6)," the Las Vegas Review-Journal reported.
Work has not begun, but Robinson did file a nearly 1,000-page document with the county, according to the paper. The long-time leader of the proposed arena has said that "he wants to have the project built and opened by the end of 2026, depending on the approval of the project’s grading plan."
A grading plan was filed in June, which remains under review. There is no guarantee Clark County will accept the paperwork as meeting its stated deadline for beginning construction.
“We’re just going to have to evaluate what they have filed and see if it meets the requirement,” Clark County Commissioner Tick Segerblom said. “They have indicated to me that it does meet what we laid out a year ago. They haven’t thrown in the towel.”
Las Vegas is a target for an NBA expansion team
While Robinson's project is not needed for Las Vegas to land an NBA team, it would give any potential team owner options. It's possible for a team to share T-Mobile Arena with the NHL's Las Vegas Golden Knights.
It's highly common for NBA and NHL teams to share arenas, and T-Mobile Arena is located on the heart of the Strip. It is surrounded by MGM Resorts International (MGM) -) and Caesars Entertainment (CZR) -) properties, arguably a better location than being on the North Strip. Moreover, unlike Robinson's project, T-Mobile already exists and has hosted basketball games.
Las Vegas and Seattle are among the cities being considered for expansion by the NBA, SI.com reported.
“We will turn to expansion once those new media deals are done,” NBA Commissioner Adam Silver said in July, speaking to reporters at the Associated Press Sports Editors conference in Las Vegas. “It’s not a sure thing, but, as I’ve said before, I think it’s natural that organizations grow over time."
The NBA already holds its Summer League in Las Vegas and has held its all-star game there.
