A Chilean company that was planning to develop a hotel-casino on the Strip near the Las Vegas Convention Center’s West Hall has pulled out of the $120 million deal.
In an emailed statement Tuesday, Las Vegas Convention and Visitors Authority (LVCVA) CEO Steve Hill said the tourism agency’s sale of 10 acres at the corner of the Strip and Elvis Presley Boulevard to CB Investment SpA did not close on Dec. 15.
“As a result, the LVCVA terminated the agreement, received the $7 million non-refundable deposit, and re-listed the property,” Hill said.
The transaction, announced in October 2021, involved a location that formerly housed a portion of the since-imploded Riviera Hotel-Casino. The LVCVA planned to use the proceeds from the sale to finance the renovation of four convention center exhibit halls over a two-year period.
