As reported by the Las Vegas Review-Journal, Alan Feldman, a former MGM Resorts executive, believes the Strip could someday extend further south, possibly even to M Resort.
Feldman, a Distinguished Fellow at UNLV’s International Gaming Institute, speculated on the future of Las Vegas while addressing members of NAIOP’s Southern Nevada chapter.
He cited a new arena and casino project, currently under development by Tim Leiweke’s Oak View Group, which could drive the Strip southward.
“If you look at the track record that Tim Leiweke and his colleagues have, I have a feeling that we’re going to see a slightly different variant, sort of Resorts World 2, at that part of the Strip,” Feldman said.
Josh Swissman, meanwhile, Founding Partner of the Strategy Organization, focused on the Strip’s other end.
Las Vegas has been touted as a possible destination for the Oakland Athletics’ planned relocation, a prospect which Swissman believes could extend the Strip north.
He also believes this end will attract further development once the Fontainebleau resort opens next year. Swissman commented: “You will definitely see new hotel towers pop up from existing operators.”
Las Vegas will also be better connected, he said, adding: “You will see more development on existing operator land, and you’ll also see, in my opinion, a better public transportation system on and around the Strip.”
However, Feldman warned that water restrictions could curtail any future development, despite efforts to limit usage. He said: “At some point, water is going to be a limiting factor.
“It almost already is. The only thing that allows these big hotels to survive is the fact that they’ve invested so much in technology and the sustainability of each property.”
