Overseas banks and well-heeled foreign investors are moving into Vegas land-holdings and new mega resort complexes like never before—and one foreign bank is even using its Russian ruble holdings in a very big way. Over 60-acres of land stretching down Harmon between the Planet Hollywood resort and condo towers to the Hard Rock hotel has been packaged together by the Africa-Israel Investment Bank, which is controlled by Israeli billionaire Lev Leviev.

I’m reliably told that a small team is already in place here working on the master plan with a local design group. Apparently, famed Italian restaurateur Giuseppe Cipriani will operate his Venetian restaurants and a boutique hotel there—one of up to six boutique brands planned there, including one from international hotel-designer Andre Balzas, former boyfriend of actress Uma Thurman. In addition, there would be one large 2,500 room luxury complex—probably a hip trendy W hotel.

“Think of it as a boutique hotel campus with one large hot upscale anchor casino-resort,” I was told. Ironically, the same banking group had originally partnered with reclusive American tycoon Robert F.X. Sillerman on the land surrounding the current Harley Davidson café—which he planned to develop as an Elvis Presley-themed hotel. Apparently he bought out the Africa-Israel partnership and they used his funds to help acquire the Harmon corridor land. One of Steve Wynn’s top executives has apparently joined Sillerman to run and develop the Presley hotel project, which would eventually swallow up the Harley Davidson space. Sillerman’s theatrical companies own rights to numerous superstars and sports legends, and they too will be incorporated into the entertainment industry themed property which is opposite the City Center project. By coincidence, they will have a Cirque du Soleil spectacular based on Presley’s life.

Another Israeli-based bank is behind the $5-billion investment planned for the hotel condo complex on the site of the old Frontier property. Construction is due to commence in March directly opposite the WYNN, and it will be a duplicate of their New York Plaza Hotel. In addition, I’m reliably told that it looks as if the Strip will finally get a prestigious 400-room luxury Ritz-Carlton hotel as a boutique partner within another major resort construction project. Boom-times indeed for builders, and Wall Street says, “It’s all good” for the next five-years ahead!

This entry was posted on Friday, December 21st, 2007 at 10:25 am and is filed under Misc. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.