Another old hotel and casino on the Las Vegas strip is closing. The New Frontier’s new owners, The Elad Group, which is controlled by Israeli real estate billionaire Yitzhak Tshuva, announced that it will be closing the New Frontier on July 15th at midnight. The implosion of the hotel is set for early next year.
The new owners of the land are going to spend between 5 and 7 billion dollars to build a Plaza Hotel in Las Vegas, which will resemble the Plaza hotel in New York. It will contain a hotel, condominiums, a casino, and retail space.
The Elad Group owns the New York version of the Plaza Hotel, which is currently closed for a $400 million renovation.
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