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New Las Vegas Casino To Cost More Than Originally Expected

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The land that used to occupy the famous Stardust casino in Las Vegas, Nevada has been purchased and construction is underway on a new casino going up in the Stardusts place. The cost of the new casino keeps rising.

Boyd Gaming released a new update on the cost of their new Echelon mega-resort, and the new cost is up to $4.8 billion from their previous report of $4.4 billion.

$950 million of that money is going towards a joint venture with Morgans Hotel Group, they are developing a Delano and Mondrian hotel. The previous estimate of the hotel was $700 million.

Also, in conjunction with General Growth Properties, Boyd Gaming is in the process of developing a 300,000 square foot retail promenade. The cost of this project is up $1 million, from $4 million, to $5 million.

The new mega resort will feature 5,000 hotel rooms, two live entertainment venues, 750,000 square feet of meeting and covention space, a 140,000 square foot casino, and 30 nightlife and dining venues.

Groundbreaking was done Tuesday morning and the estimated opening time is planned for the third quarter of 2010.

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