Dream Las Vegas Becoming a Nightmare? • This Week in Gambling
We recently visited the (supposed) future home of the Dream Las Vegas. We saw a lot of dirt, a chain link fence, and some construction equipment. But other than that, the site (and the project) appear to be dead in the desert.
Just a short walk from Mandalay Bay, or a short cab ride from Allegiant Stadium, Dream Las Vegas sits on a vacant 5 acre parcel on the the south end of the Boulevard that was acquired in collaboration with Contour Real Estate back in February 2020. The vision was to transform this space into a lavish full-service hotel with an estimated budget ranging from $550 million to $575 million.
The Dream Hotel Group, which was recently acquired by Hyatt Hotels Corp, was set to operate the resort, but construction has come to a temporary standstill. The developers have faced a setback in their financing plans, leaving them with substantial outstanding debts amounting to tens of millions of dollars for the ambitious hotel-casino project.
Originally slated for completion late in 2024, the project’s grand opening has obviously been pushed back and put on hold for now. Once construction restarts and is completed (assuming we make it that far), the Dream Las Vegas resort will stand as an opulent 20 story luxury hotel with more than 500 guest rooms and suites.
The extensive amenities will include eight distinct food and beverage venues, 26,000 square feet of casino space, a well-equipped theater or screening room, and ample parking with 825 dedicated spaces. The Dream Las Vegas aims to provide an unforgettable experience to visitors seeking the ultimate luxury stay and entertainment on the south end of The Strip.