Valuable Property On Las Vegas Strip Could Sell For $125 Million
A very valuable piece of property on theĀ Las Vegas Strip could soon sell for $125 million dollars if theĀ Las Vegas Convention and Visitors Authority (LVCVA)Ā approves the deal at their next meeting onĀ March 14th.
According to an article written byĀ Corey LevitanĀ onĀ Casino.org, 10 acres of prime property where theĀ Riviera Hotel Casino used to reside may be sold toĀ Brett Torino andĀ Paul Kanavos.Ā They have already developed theĀ Harmon Retail Corner that opened up for business back inĀ 2012.Ā They are currently building a four-story mall in theĀ City Center Complex.Ā Their company, Flag Luxury Group of New York, has put up a bid of $125 million dollars for the property which is located just south of theĀ FontainebleauĀ near the intersection ofĀ Las Vegas Boulevard andĀ Elvis Presley Boulevard.
Their bid is actually $5 million dollars higher than the bid theĀ LVCVA approved inĀ 2021 from ChileanĀ billionaireĀ Claudio Fischer.Ā PerĀ Levitan’s article, he backed out of the deal due to rising interest rates in the U.S.A. Fischer forfeited his $7 million dollar non-refundable deposit last December when he missed the closing deadline and the LVCVAĀ canceled the sale.
Now it’s up to the 14 members of theĀ LVCVAĀ to approve or deny the latest deal. If they approve it, Flag Luxury Group of New YorkĀ will have five days to make a non-refundable deposit of $3 million dollars on the oldĀ RivieraĀ property on the Las Vegas Strip. If they meet that deadline, they will have to make another non-refundable deposit of $2 million bucks after 90 days. The deal would have to be finalized by September 11, 2023.
TheĀ Casino.org article goes on to explain that the funds collected from the previously canceled sale to Claudio Fischer,Ā and the possible deal withĀ Flag Luxury Group,Ā would all go towards theĀ LVCVA’sĀ $600 million dollar renovation project of theĀ Las Vegas Convention Center, which is set to begin next month. There is no word yet on what they would be planning to build on this valuable piece of property on theĀ Las Vegas Strip.
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Larry Martino is the long-time Afternoon Drive personality on 96.3 KKLZ. The views and opinions expressed in this blog are those of Larry Martino and not necessarily those of Beasley Media Group, LLC.
10 Of The Biggest Real-Life Casino Heists Of All Time
From the moment you enter a casino, a thousand strategic choicesāfrom the sounds of slot machines designed to disguise losses as wins to the perfumed air, which, for one Vegas casino, increased slot machine revenue by 45%āhave been made to keep you playing, and to keep you just hopeful enough to keep paying. It would be bad business for casinos to bankrupt players on a single hand or pull of a lever, intentionally. And for every dangled carrot that a player eventually grasps, the house has already ensured theyāve earned it back somewhere else.
So how do you ever truly get the upper hand against a system that is mathematically designedāwhat is known as the house edgeāto prevent you from doing so? Well, some people have tried cheating. Thereās card counting (which is technically not illegal, according to federal, state, and local laws), card switching, card marking, dice sliding, dealer bribing, and good old-fashioned peeking (or hole carding). But to even have an advantage by cheating, you must play every hand perfectly, like the infamous MIT blackjack team. Determined to beat the house with even more complex mathāif just theoretically, for nowāresearchers at MIT are studying whether quantum entanglement can give players an advantage at the blackjack table.
For the average person without a quantum computer or the skills to count cards flawlessly, any attempt at cheating is almost always noticed, monitored, and in some scenarios, permitted, says data scientist Jeff Jonas. And he should knowāhe developed the programs casinos use to detect even the subtlest hints of fraud. NORA, or Non-Obvious Relationship Awareness, is a software program of Jonasā creation, which uses available data to sleuth out connections like whether a dealer and a player are related, live in proximity to one another, or if a casino employee has any connections to known criminals. Any edge that the house hasnāt already secured through tamperproof mathematics, theyāve accounted for through surveillance.
So, if you canāt gain an advantage by playing by the rules or even by breaking the rules, whatās left to do? Any level-headed person would tell you to reset your expectations or avoid the casinos completely. Some people throughout history have decided they simply werenāt going to play the game at all. Instead, they chose to rob them blind.
Casino heists are the ultimate underdog stories, and as such, it is a favorite subgenre in film. While Hollywood has given us its own edge-of-your-seat, romanticized take on the topic, the reality is arguably more dramatic and more impressive when one considers how unlikely success is. OLBG compiled a list of the 10 biggest casino heists ranging from āOceanās 11ā-style complexity to stunning simplicity.