The resort, OVG Las Vegas Hotel & Casino, will contain 2,000 rooms and sit adjacent to a 20,000-capacity sports and entertainment arena.
The group says its new arena will be NBA-ready, with $1bn worth of funds expected to be pumped into its development.
Oak View Group partners Tim Leiweke and Irving Azoff named Marc Badain, former President of NFL side Las Vegas Raiders, as an executive of its development plans.
Badain will bring significant experience to his new role, having overseen the construction of the Allegiant Stadium after relocating the Raiders from Oakland to Las Vegas.
As for the integrated resort, former co-CEO of Foley Entertainment Group, Randy Morton, has been charged to drive its development.
Morton has four decades of experience as a hospitality executive, and was formerly President and CCO of Las Vegas’ Bellagio.
The project, estimated to cost a combined $3bn, will be built across 25 acres at the junction of Las Vegas Boulevard and Blue Diamond Road.
“It’s very exciting master-planning [the] design and development of a luxury boutique casino-resort. The integration of the arena and the connectivity to the site is very exciting. And I love the location," said Morton to Las Vegas Review-Journal.
“It’s easy [to get] in and out, with multiple ways in off the I-15 [Interstate Highway] and, of course, the I-215, which is very exciting and very appealing to all customers.”
Badain added: “We’re looking to build the greatest arena on Earth, and Las Vegas needs it and Las Vegas deserves it. If you look at the trajectory of music venues and sports venues in Las Vegas of this size, it’s about every 10 years for a new one.
“By the time we open our venue, it will be about 10 years since they opened T-Mobile Arena, and it’s time to have a new venue in Las Vegas that’s worthy of Las Vegas.”
