In 2022, Las Vegas announced several new projects coming to The Strip and beyond.
Many acquisitions, such as Hard Rock’s purchase of The Mirage, have become more official, while Station Casinos plans to build several properties by 2030, including Durango Casino & Resort, which will open late next year.
The results of those construction plans, new acquisitions, and big-name entertainment residencies are what’s ahead for 2023.
Notable Acquisitions
Bally’s Corporation acquires Tropicana Las Vegas
Bally’s Corp., not to be confused with Bally’s Las Vegas Hotel & Casino, which recently changed its name to Horseshoe Las Vegas, is the new owner of the Tropicana Las Vegas. In late September, the Nevada Gaming Commission approved the $308 million acquisition from Penn Entertainment Inc. Bally’s Corp. is a gaming, betting, and entertainment company based in Rhode Island and plans to make the Tropicana its Western flagship operation. According to the Las Vegas Review-Journal, guests that use Tropicana’s mychoice loyalty program are required to transition to Bally’s Rewards program. Other major changes and renovations are not expected at the property for the next couple of years.
Hard Rock buys The Mirage
Last December, Hard Rock International purchased The Mirage from MGM Resorts International for $1.075 billion. The Las Vegas Review-Journal confirmed that the deal officially closed on Monday, Dec. 19, 2022. Reporting by the Las Vegas publication also revealed that Hard Rock International plans to build a guitar-shaped hotel tower in place of The Mirage’s outdoor volcano attraction. The new owners also plan to replace the existing hotel to upgrade the property and expand its casino floor, convention space and theater. Hard Rock anticipates that the renovations will be complete by the end of 2023, and in the meantime, the property will continue to operate as The Mirage.
VICI Properties to fully control MGM Grand Las Vegas and Mandalay Bay
The largest property owner on the Las Vegas Strip is set to acquire complete control of two properties, the MGM Grand Las Vegas and Mandalay Bay. VICI Properties, the real estate investment trust based in New York, made a deal with Blackstone Real Estate Investment Trust to purchase 49.9% of the company’s stake in the two properties. VICI had already owned 50.1% of MGM Grand Las Vegas and Mandalay Bay after completing its $17.2 billion buyout of MGM Growth Properties in May. VICI Properties owns several properties along Las Vegas Boulevard, including Park MGM, New York-New York, Luxor and Excalibur.
Superstar Residencies
Aside from the gambling and resort-style amenities and attractions, the live entertainment in Las Vegas is a huge draw for people around the world. Here are some new and notable residences coming to Sin City in 2023.
Adele: The pop and soul star’s residency was set to begin at the start of 2022, but was postponed until mid-November. The singer’s much-anticipated Weekends with Adele is happening at The Colosseum at Caesars Palace now through March 25.
Luke Bryan: The country superstar and “American Idol” judge is continuing his residency, Luke Bryan: Vegas, at the Resorts World Theatre from Feb. 1- April 1.
Maroon 5: The Los Angeles-based Grammy award-winning pop band will bring the Maroon 5: The Las Vegas Residency to the Dolby Live at MGM Park with dates from March 24-Aug. 12.
Miranda Lambert: The country singer’s Velvet Rodeo residency at The Colosseum at Caesars Palace will begin March 24 and run through April 9.
Carlos Santana: The legendary guitarist will bring An Intimate Evening with Santana to the House of Blues at Mandalay Bay from Jan. 25-May 28.
Under Construction
Dream Las Vegas: The property near the Harry Reid International Airport is slated to include dining and nightlife venues, 12,000-square-feet of meeting and event space and a 20,000-square-foot casino, according to a news release. Construction for the 531-room casino resort began in July and is expected to finish in late 2024.
Durango Casino & Resort: Station Casinos is planning to open one of its six projects to increase its blueprint by 2030. The first project, Durango Casino & Resort, located near the 215 Beltway, is slated to open in the fall of 2023. According to the property’s website, the hotel will have more than 200 rooms, an 83,000-square-foot casino floor, four signature restaurants and a collection of bars and lounges. It will also have 20,000-square-feet of convention and meeting space, a resort-style pool with cabanas and 40 electric vehicle charging stations.
Fontainebleau: One of the most significant construction projects in 2023 is the Fontainebleau Las Vegas. It’s been years since the project began. After many hurdles, including a pandemic and various management changes, it is slated to open at the end of 2023. The hotel will feature 3,700 rooms, a 3,300-seat theater, 27 food and beverage concepts and 105,000-square-foot ballroom.
MSG Sphere: Construction for the MSG Sphere venue is moving into its final steps. The project is expected to be finished by the end of 2023, according to the Las Vegas Review-Journal. When the 17,500-seat venue is finished, it will be east of The Venetian and Palazzo and measure 366-feet tall and 516-feet wide at its widest point. The venue will include 580,000-square-feet of programmable LED lighting and will eventually have screens the size of three football fields. It will also be the world’s most extensive beam-forming audio system with more than 160,000 speakers, delivering a unique sound experience for its guests. Madison Square Garden Entertainment Corp. owns the entertainment venue and plans to open similar venues worldwide.
Retail & Entertainment District: The Los Angeles-based global development company, Oak View Group, announced in a press release in March that it had acquired 25 acres in Las Vegas near the intersection of two major freeways, I-15 and I-215. The group hopes to build an entertainment district and arena in the area. The plans include an 850,000-square-foot arena, a casino, a hotel and an additional entertainment venue amphitheater. The press release stated construction would begin sometime in 2023, but did not provide a specific time frame for completion.
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