Sunday, July 19, 2015

Alon 4 Billion Dollar Budget

The Sydney Morning Herald in Australia had a fairly comprehensive article about James Packer and his quest to build a number of casino resorts across the globe in the next few years.

Alon Las Vegas is the resort Packer is involved with stateside. Most of the details about Alon have not been revealed yet, but the article provided this tidbit:

"After announcing plans last year to build the Vegas casino by 2018, Packer has steadily been raiding Wynn's top executives as he looks to challenge the US businessman with an 1100-room integrated resort that could cost the gaming magnate more than $US4 billion."

This is the first time I've seen a budget attached to this project, and I'm somewhat surprised. Four billion seems kind of high for a relatively small resort. The initial renderings of the resort didn't strike me as an ultra luxury property, but those plans are very preliminary.

The luring of XS nightclub expert Jesse Waits is another clue that Alon will be competing for VIP customers. Packer has some ties with Hollywood, so attracting celebrities might be part of the Alon master plan.