$500M Waterfront Hotel for Sparks, Nev

There really is water in the desert and Olympia Gaming L.L.C. plans to give visitors to its new hotel and casino a front and center view of it. The Las Vegas-based gaming development company just announced that it will build a new $500 million lodging and gambling facility at RED Development L.L.C.'s planned Legends at Sparks Marina outdoor shopping and entertainment destination in Sparks, Nev. Work on the project, which is being billed as a casino resort and spa, will likely get underway during the first quarter of 2007.

Olympia Gaming's new 12-acre project is currently unnamed, but there are some specifics that have been hammered out for the approximately 30-story, Peter Wilday-designed tower, which will sit along Helms Lake.

'The goal is to build a resort destination that hasn't been seen in the Spark market,' D.C. Graham, Olympia Gaming chief marketing officer, told CPN. The project will be developed in phases, with the first phase consisting of 500 luxury guestrooms, a 65,000-square-foot casino, and about 50,000 square-feet of retail/restaurant space that will include both upscale dining and a buffet option.

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Source - Commercial Property News


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