Shopoff Expected to Resume Construction on $550 Million Las Vegas Resort

Shopoff Realty Investments has applied for an extension on building permits with Clark County for its Dream Las Vegas  casino resort development. As The DI Wire previously reported, the company began construction on the $550 million project in July 2022 but was paused early this year in the face of financing issues.

According to the Las Vegas Review-Journal, a justification letter that accompanied the extension request states that the financing issues that had delayed the project were close to being resolved and that construction could resume in January 2024.

The construction delay is expected to push the opening of Dream Las Vegas from late-2024 to late-2025. No official opening date has been set.

Shopoff says Dream Las Vegas will include 531 guestrooms and suites, and seven dining and nightlife options, including a third-level pool and day club, two bar and lounge concepts on the gaming floor, a lobby bar, coffee café and gelateria on the street level, as well as a sporting club, nightclub, restaurant, and 24-hour diner on the third floor.

The property will also have 12,000 square feet of meeting and event space, including a 5,000-square-foot ballroom and 90-seat live entertainment theatre, a 20,000-square-foot casino and gaming floor, a fitness center by TechnoGym and on-site parking.

Shopoff Realty Investments is an Irvine, California-based real estate firm with a 31-year history of value-add and opportunistic investing across the United States. The company primarily focuses on proactively generating appreciation through the repositioning of commercial income-producing properties, the entitlement of land assets and development projects. Their history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group).

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