A new report reveals that the Las Vegas Convention and Visitors Authority is expected to soon close the sale of 10-acres of land to a businessman from Chile.
Today the Las Vegas Convention and Visitors Authority (LVCVA) Board of Directors unanimously approved the sale and licensed use of a ten-acre parcel of land located at Las Vegas Boulevard and Elvis Presley Boulevard for $120 million.
The Chilean businessman hasn't disclosed any specific plans for the development of the land, but the agreement requires a resort or hotel operation be developed on that parcel.
LAS VEGAS (AP) A Chilean businessman and co-founder of the largest casino resort operator in Latin America has reached an agreement to buy 10 acres (4 hectares) of Strip-front land that formerly housed the Riviera from the Las Vegas Convention and Visitors Authority for $120 million.