In a time when most developers are afraid to move forward with even the smallest project, Frank and Lorenzo Fertitta - perhaps the 2 most forward-thinking businessmen in Las Vegas - are actually accelerating their plans to build an high rise resort project in Las Vegas that'll be even larger than CityCenter!
So while most low-paid Review Journal and Las Vegas Sun writers, along with salaried 40-hours per week economic experts continue to write about how bad Las Vegas is, the BILLIONAIRE Fertitta brothers are betting big with plans to redevelop the 110-acre site of the Wild Wild West on Trop and the I-15 at a cost of $10 billion dollars.
Hmmm... who should we look to for an accurate read on the future of Las Vegas? I think building a 14-casino empire in 13 years should account for something. The Fertitta's understand Las Vegas will withstand the test of time. Deep down, I think we all believe that. Sometimes we just need the big boys to step up and remind us of that fact. Said Frank Fertitta:
"It's very hard to predict cycles in the short run and know what's going to happen in the next six months or the next year... we've always placed our bets in over a 5 to 10 year time horizon.. When you have a solid strategy and look at the supply-demand dynamics in the Las Vegas Valley, the fact is the population is going to continue to grow over the next 10 years and there are limited places to build ... Ours is really a strategic plan over the long run rather than trying to time the market in the short run".
Sound familiar? We've been saying that all along. Find that deal and act on it... And by the way, the Review Journal today reported that home sales in Las Vegas are finally starting to show signs of life.
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