I spent about an hour on a recent sunny day on the Las Vegas Strip, just beyond the entrance to the iconic Mandalay Bay hotel.
The resort, a $40 billion, 2,700-acre project, is just a few hundred yards from where I was staying at the time, a resort that’s been the focus of a $1.4 billion renovation plan in the city.
“The concept is it’s going to be like a mini Las Vegas,” said Stephen M. O’Connor, a senior vice president at The Rebuild.
He noted that the entire area of the resort will be refurbished, including the resort’s iconic parking garage.
“This is the future of Las Vegas.”
The resort is expected to open by 2020, but has been in the planning stages for several years.
O-Connor said the resort has already begun to ramp up its plans.
“It’s really important for us that we do the work in order to get the project built,” he said.
O-Connor added that the resort is designed to create more than 1,200 jobs.
“We want to make sure that it has the capacity to grow in the future,” he told Recode.
“That’s the goal of this project.”
The project is expected cost around $5 billion, and it will be the second resort project under construction on the Strip, following the construction of the Mandalay Pacific Resort in 2013.
O’Connor said it’s important to note that the $40-billion project will be privately funded, so no one will be making a profit.
The hotel will also be built by a consortium of local and state officials, including MGM Resorts CEO Robert Iger, state Treasurer Jeff Kober and MGM Resort chairman and CEO Sheldon Adelson.
The project, which was originally scheduled to open in 2019, has been delayed three times over the past decade.
But in December 2018, MGM announced it was postponing the opening date for the project.
The Las Vegas Review-Journal reported in April that O-Brien told the hotel board that the project had fallen behind schedule, citing “a shortage of staff” at MGM Resorces and other contractors involved in the project, as well as “significant challenges” in the design of the hotel.MGM Resorts declined to comment to Recode on the record.OConnor, who has worked at the resort for nearly three decades, said that the hotel will be open for “a couple of years,” but that it’s “likely” to be open longer.
“What I think is really exciting about this project is that we’re building a resort, and we’re putting it on a pedestal and we are bringing the best and brightest people in the world to work there,” he added.
The new resort, which is currently being built, will be one of the largest hotel developments in Las Vegas.
The Mandalay complex was built in the mid-1970s, and the Las Venegas hotel opened in 1975.
It was named for a Japanese city and resort that sits just outside the Las Cruces airport, where it was originally planned.
The MGM Resurroundings project was built as part of a broader expansion of the city, and MGM hopes to create the largest indoor shopping mall in the country.
Mandalay Bay was originally built in 1927, and was the site of an infamous World War II bombing that killed more than 3,000 people.