That project has led to a revitalization of that section of the famous 4.2-mile stretch of road. The most notable project might be Fontainebleau Las Vegas, a project that has been on a nearly 20-year odyssey, which appears on track for a late-2023 opening.

That casino will give the north Strip critical mass making it a more attractive area that might be able to compete for tourists with the central and south strip areas dominated by Caesars Entertainment (CZR) - Get Caesars Entertainment Inc. Report and MGM Resorts International (MGM) - Get MGM Resorts International Report.

The Strip, however, has become some of the most valuable real estate in the world. Any scrap of land available has been selling for outrageous prices, and land that was once thought of as not worth developing has become valuable.

Now, a new major casino project has been announced and it will bring a resort casino to an area on the Strip that surprisingly has never had one.

LAS VEGAS GETS A NEW STRIP CASINO

Unlike many major cities, Las Vegas' airport is actually quite close to the Strip. But, while it's just a short ride from the terminal to the heart of Strip, there's not actually a hotel right at the airport.

That's going to change when Dream Las Vegas, a new resort casino planned for the south end of the Las Vegas Strip right near the airport gets built. The project won't be coming from Caesars, MGM, or any other major casino operator. Instead, it's being built by Shopoff Realty Investments, an Irvine, Calif.-based real estate firm, and Contour, a privately-owned commercial real estate investment and development group.

The 19-story hotel will be modest by Las Vegas standards offering 526 rooms and suites along with a casino, a pool, nightlife venue, retail, and 12,000 square feet of meeting and event space, CasinoBeats,com reported.

Dream Las Vegas is expected to open in the third quarter of 2024.

WHY BUILD AN AIRPORT CASINO?

An airport hotel and casino is convenient for people looking to come to Las Vegas for a quick meeting. That's really a minor factor given that the heart of the Strip is not a long ride (maybe 20 minutes depending upon traffic) from the airport.

The project met with some security concerns due to its proximity to the airport.

“After working closely with Clark County Board of County Commissioners, McCarran Airport and the Clark County Department of Comprehensive Planning we are pleased to have been able to secure entitlements for Dream Las Vegas that are mutually beneficial to Clark County as well as our partnership,” said Shopoff Realty CEO William Shopoff, “We believe that this project will be a stellar example for future development on the south end of the Strip.”

The developers tried to make it clear that they're looking to bring something different to the Strip.

“As a Las Vegas native, born and raised, I know first-hand the benefits Dream will bring to the Strip,” Contour CEO David Daneshforooztold CasinoBeats. “Dream Hotel Group will bring the same magic to Las Vegas as they have to their other locations – a curated entertainment destination in a well-designed intimate environment for both locals and visitors to enjoy. This will be a departure from the mega-themed resort concept, ushering in a new era of hotel/casino design for Las Vegas.”