LAS VEGAS -- Caesars Entertainment is announcing some of the tenants lined up for a new dining, entertainment and shopping district opening next year with a big observation wheel amid some of the company's big Las Vegas properties.
Project chief Jon Gray says the $550 million LINQ development will be at what he calls the 50-yard line of the Las Vegas Strip.
"Particularly in the post-2008 period, we recognized that we did not necessarily need more hotel rooms and more casino gaming space, but instead we needed a 24-hour-a-day, 7-day-a-week attraction that would be accessible to a much wider audience," Gary Loveman, Caesars Entertainment CEO, said.
The project promises to bring jobs - construction and retail - to Las Vegas. Caesars Entertainment hopes it will also bring visitors.
"We began the notion of putting together a place that would have one-of-a-kind tenants, not the 15th Louis Vatton or the 16th Prada or Dior outlet in Las Vegas, but rather things that you might have experienced elsewhere in the world but would only find in Las Vegas," Loveman said.
LINQ is being leased by Rick Caruso, the owner-operator of The Grove shopping and entertainment district in Los Angeles.
"One of the goals that we set out for this project was to create something that is new and something that is unique and not to replicate something that already exists in the local Las Vegas market," said Paul Kurzawa with Caruso Affiliated.
The project includes the first Western U.S. site of a Brooklyn Bowl concert, nightclub, bar, bowling alley and restaurant venue. Others include a two-story Yard House beer hall and a two-story Asian-themed food, art, music and entertainment venue featuring everything from sushi to noodles, robata and dim sum.
The LINQ project will have more than 300,000 square feet once it's complete. The heart of the project though will be the world's largest observation wheel.
The project is set to be complete by next year.
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