27 Acre Mixed-Use Development Anchored by Entertainment and Sports Arena on Las Vegas Strip Announced

Project to be situated on prime 27-acre site in proximity to Fontainebleau Las Vegas and Resorts World Las Vegas

Multi-purpose venue expected to feature cutting-edge entertainment and sports arena, retail and convention space, casino, and hotels

Real estate development company LVXP has announced plans to deliver a new experiential mixed-use development on the Las Vegas Strip that will be anchored by a technologically advanced entertainment and sports arena. The transformational project will be located on the 27-acre site at 2601 South Las Vegas Boulevard.

LVXP’s prime development site is strategically situated across from the newly expanded Las Vegas Convention Center, adjacent to Fontainebleau Las Vegas and near Resorts World Las Vegas. The multi-purpose entertainment and lifestyle venue is expected to feature an expansive retail plaza, state-of-the-art convention space, a destination casino, and several ultra-luxury hotels and residences. Importantly, the site could serve as the home for a new NBA franchise, representing a significant development for Clark County and the community.

“We are honored to be stewards of this significant milestone in the city’s legacy,” said James R. Frasure Jr., CEO of LVXP. “Our commitment is to create a destination that captures the essence of Las Vegas and provides lasting benefits for the community. For me, this endeavor is more than a project – it’s a promise to uphold the spirit of innovation and enthusiasm that defines our local culture.”

LVXP’s multi-billion-dollar development will create a highly immersive, technology-driven environment that seamlessly blends elegant accommodations and vibrant culinary experiences with exciting gaming options and an electrifying atmosphere of entertainment. The project, which will prioritize sustainable development and green initiatives led by world-class construction partners, is expected to create thousands of jobs, employ union labor, and generate substantial revenue for the local economy.

“This is a well-conceived project that has the potential to transform a valuable undeveloped land parcel into a highly productive destination that contributes meaningful long-term value to the community and visitors alike,” said Tick Segerblom, Clark County Commission Chairman.

LVXP’s leadership team includes experts in real estate, finance, marketing, technology, sports, and entertainment. In addition to Mr. Frasure, whose background involves successfully executing large-scale development projects, LVXP will benefit from the experience of Chief Construction Officer Nick Tomasino, who most recently served as Senior Vice President of Construction at Madison Square Garden Entertainment where he managed the construction of The Sphere. Renowned Las Vegas-based entertainment and architecture firm Steelman Partners will design the project’s architectural plans.

Mr. Tomasino said, “My experience leading the construction of some of the most iconic developments on the Strip has provided me with the insight and expertise necessary to bring this project to fruition. I am thrilled for the opportunity to yet again build a destination that will transform Las Vegas Boulevard and leave a long-lasting positive impact for future generations.”

Paul Steelman, CEO of Steelman Partners, commented, “As we begin shaping the next chapter of Las Vegas, I’m thrilled to lead the design for LVXP, a pioneering venture merging cutting-edge Artificial Intelligence with personalized guest experiences. Collaborating with the LVXP team energizes my creative spirit, as together, we strive to craft a landmark that not only redefines the city’s skyline but also pays homage to its architectural legacy. With every detail, we aim to transcend boundaries and immerse guests in a tailored reality, setting a new standard for hospitality and entertainment in Las Vegas.”