Elvis Presley Will Make His Home In Las Vegas At Themed Hotel Casino
Elvis Presley will make his home in Las Vegas at themed hotel casino on the Las Vegas Strip. According to a SEC filing this week, FX Real Estate and Entertainment is planning a Las Vegas, NV hotel for 18 across across from MGM Mirage Project CityCenter.
The dead entertainer amazingly made $50 million last year through his licensing. This is still a large interest in Elvis Aaron Presley to make the resort a success.
Another real estate developer, FX Real Estate, with not enough funding is looking for their stake on the Strip. Of course, they don’t have enough capital or cash flow and will have to raise it from equity financing to fund the project.
Currently, there are businesses on the land and their leases will have to be rewritten or terminated for this development to come to life.
The land was purchased through six real estate purchases totaling $221.3 million, from March 1998 for seven years.
The development site spans Smith & Wollensky south to Harley Davidson Cafe on the north Strip. Additional operating businesses between the two include retail, Travelodge and The Hawaiian Marketplace.
Elvis Presley Enterprises has licensed FX to use the assets and name from the estate of Elvis.
Construction cost for the luxury Las Vegas NV hotel is estimated at $3.1 billion for costs and financing.
Construction is scheduled to begin the beginning of 2009 with construction completion three and a half years later.
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Elvis Presley will make his home in Las Vegas at themed hotel casino on the Strip.