This article is about the planned Las Vegas Strip casino. For the downtown Las Vegas casino, see Plaza Hotel & Casino.
This article's factual accuracy may be compromised due to out-of-date information. Please update this article to reflect recent events or newly available information.(February 2012)
The Las Vegas Plaza was the working name for a future $5 billion to $8 billion multi-use ultra-luxury hotel, private residences, retail and gaming complex to be developed on the Las Vegas Strip by ElAd Properties. Construction was scheduled to begin in early 2008 for completion in 2011, but worsening economic conditions in 2008 caused the project to be suspended and ultimately cancelled in 2011.
It would have been built on the 34.5 acres (13.96 ha) site of the former New Frontier Hotel and Casino which closed July 15, 2007. ElAd purchased the New Frontier for $1.2 billion from Phil Ruffin in a deal announced May 15, 2007. This property purchase set a new record for Strip land at over $33 million an acre.
The Plaza name comes from ElAd's flagship property, the Plaza Hotel in New York City. The company's current design plans for the Las Vegas complex are based on the New York Plaza.
In August 2007, a lawsuit was filed against ElAd Properties by the Tamares Group, owners of the Plaza Hotel & Casino in downtown Las Vegas, which alleges that the new property's name infringes on the current Plaza's trademark.
Depositions have been taken in a case filed by Resort Properties of America broker in U.S. District Court. Resorts longtime Las Vegas broker David Atwell is seeking $12 million plus damages for unpaid fees. He claims he initiated the $1.24 billion sale of the New Frontier to Elad from owner Phil Ruffin, Atwell has had dealings with Steve Wynn, Caesars Palace, Sheldon Adelson to name a few. Atwell's attorneys will call Elad president Miki Naftali and founder Yitzhak Tshuva for depositions in the coming new year.