The Palazzo Resort Hotel Casino News - Page 11

The scheduled opening in April of the $2.5 billion Wynn Las Vegas may be the catalyst for the newest wave of casino construction along the Strip and around the valley.

The Nevada Gaming Control Board on Friday endorsed a common stock offering designed to raise $575 million for the company building the $1.6 billion Palazzo megaresort on the Strip and expanding to Macau.

With no ground-breaking ceremony and no public fanfare, Las Vegas Sands Corp. has started laying the foundation for the $1.6 billion Palazzo casino resort, company documents filed with the Securities and Exchange Commission said.

Las Vegas Sands on Friday afternoon filed a $350 million initial public offering with the U.S. Securities and Exchange Commission that could be used to underwrite the new Palazzo adjacent to The Venetian.

Based on surging demand for Las Vegas as a business and leisure travel destination, Las Vegas Sands is proceeding full-speed ahead with financing for a $1.6 billion, 3,000-room resort adjacent to The Venetian.

Las Vegas Sands on Monday released new details about its planned $1.6 billion Palazzo casino resort on the Strip at Sands Avenue and started marketing a $975 million credit package to provide financing for the project.

Venetian owner Sheldon Adelson's long-planned second megaresort on the Las Vegas Strip will have 53 stories and will top Steve Wynn's Wynn Las Vegas hotel-casino across the street by 105 feet, according to an architectural draft of the project submitted to Clark County planners.