{"id":35365,"date":"2023-01-06T17:01:04","date_gmt":"2023-01-07T01:01:04","guid":{"rendered":"https:\/\/www.casino.org\/vitalvegas\/?p=35365"},"modified":"2023-01-06T17:07:28","modified_gmt":"2023-01-07T01:07:28","slug":"strip-land-deal-with-mysterious-chilean-mogul-falls-through","status":"publish","type":"post","link":"https:\/\/www.casino.org\/vitalvegas\/strip-land-deal-with-mysterious-chilean-mogul-falls-through\/","title":{"rendered":"Strip Land Deal With Mysterious Chilean Mogul Falls Through"},"content":{"rendered":"<p>Right up front, &#8220;Chilean Mogul&#8221; sounds delicious, especially with a zesty tartar sauce.<\/p>\n<p>That said, what we&#8217;re talking about is something else, entirely.<\/p>\n<p>Specifically, a $120 million land deal on The Strip previously announced by the Las Vegas Convention and Visitors Authority (LVCVA) has fallen through.<\/p>\n<p>The real world impact? Lanyard company stocks are about to get crushed!<\/p>\n<figure id=\"attachment_16495\" aria-describedby=\"caption-attachment-16495\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-16495 size-full\" style=\"border: 1px solid #000000;\" src=\"https:\/\/www.casino.org\/vitalvegas\/wp-content\/uploads\/2017\/01\/riviera_demolition_after_010817.jpg\" alt=\"Riviera parking lot\" width=\"800\" height=\"533\" srcset=\"https:\/\/www.casino.org\/vitalvegas\/wp-content\/uploads\/2017\/01\/riviera_demolition_after_010817.jpg 800w, https:\/\/www.casino.org\/vitalvegas\/wp-content\/uploads\/2017\/01\/riviera_demolition_after_010817-768x512.jpg 768w, https:\/\/www.casino.org\/vitalvegas\/wp-content\/uploads\/2017\/01\/riviera_demolition_after_010817-624x416.jpg 624w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption id=\"caption-attachment-16495\" class=\"wp-caption-text\">Riviera wasn&#8217;t exactly paradise, but they sure as hell paved it.<\/figcaption><\/figure>\n<p>So, some background.<\/p>\n<p>Back in Oct. 2021, the LVCVA announced it had struck a deal to sell a 10-acre parcel of land, formerly the home of part of the Riviera.<\/p>\n<p>At the time, the <a href=\"https:\/\/www.casino.org\/vitalvegas\/lvcva-sells-chunk-of-riviera-site-to-bond-villain\/\" target=\"_blank\" rel=\"noopener noreferrer\">mysterious buyer<\/a> was described as a &#8220;Bond villain.&#8221; Only by us, but that&#8217;s one of the reasons we&#8217;re special.<\/p>\n<p>Right out of the gate, the whole thing sounded fishy. We&#8217;ll be circling back to this deceptively innocuous idiom in a moment.<\/p>\n<p>The 10 acres of Riv land (currently a parking lot) was to be purchased by Claudio Fischer, owner of Sun Dreams, the largest casino resort operator in Latin America.<\/p>\n<p>The bulk of Fischer&#8217;s wealth is supposed to have come from, wait for it, salmon farming. This is the part where you are supposed to circle back. We&#8217;ll wait.<\/p>\n<p>Originally, the deal was supposed to close in June 2022. Not so much.<\/p>\n<p>Construction of a new resort was supposed to start in 2031. Not so much.<\/p>\n<p>The LVCVA pulled the plug on the deal, and the land is back up for sale.<\/p>\n<p>Lanyard companies can take comfort from the fact the LVCVA kept its $7 million non-refundable deposit from Fischer (technically, his company, CB Investment SpA).<\/p>\n<p>All this could&#8217;ve been avoided if the Riviera hadn&#8217;t been demolished. Which is definitely an opening to share our incredible video chronicling the demolition of the Riviera.<\/p>\n<div data-mode=\"normal\" data-oembed=\"1\" data-provider=\"youtube\" id=\"arve-youtube-dvzzlx7fbf0\" style=\"max-width:900px;\" class=\"arve\">\n<div class=\"arve-inner\">\n<div style=\"aspect-ratio:500\/281\" class=\"arve-embed arve-embed--has-aspect-ratio\">\n<div class=\"arve-ar\" style=\"padding-top:56.200000%\"><\/div>\n<p>\t\t\t<iframe allow=\"accelerometer &#039;none&#039;;autoplay &#039;none&#039;;camera &#039;none&#039;;ch-ua &#039;none&#039;;clipboard-read &#039;none&#039;;clipboard-write;display-capture &#039;none&#039;;encrypted-media &#039;none&#039;;gamepad &#039;none&#039;;geolocation &#039;none&#039;;gyroscope &#039;none&#039;;hid &#039;none&#039;;identity-credentials-get &#039;none&#039;;idle-detection &#039;none&#039;;keyboard-map &#039;none&#039;;local-fonts &#039;none&#039;;magnetometer &#039;none&#039;;microphone &#039;none&#039;;midi &#039;none&#039;;payment &#039;none&#039;;picture-in-picture;publickey-credentials-create &#039;none&#039;;publickey-credentials-get &#039;none&#039;;screen-wake-lock &#039;none&#039;;serial &#039;none&#039;;sync-xhr;usb &#039;none&#039;;window-management &#039;none&#039;;xr-spatial-tracking &#039;none&#039;;\" allowfullscreen=\"\" class=\"arve-iframe fitvidsignore\" credentialless data-arve=\"arve-youtube-dvzzlx7fbf0\" data-lenis-prevent=\"\" data-src-no-ap=\"https:\/\/www.youtube-nocookie.com\/embed\/dVZzLx7fBF0?feature=oembed&amp;iv_load_policy=3&amp;modestbranding=1&amp;rel=0&amp;autohide=1&amp;playsinline=0&amp;autoplay=0\" frameborder=\"0\" height=\"505.8\" loading=\"lazy\" name=\"\" referrerpolicy=\"strict-origin-when-cross-origin\" sandbox=\"allow-scripts allow-same-origin allow-presentation allow-popups allow-popups-to-escape-sandbox\" scrolling=\"no\" src=\"https:\/\/www.youtube-nocookie.com\/embed\/dVZzLx7fBF0?feature=oembed&#038;iv_load_policy=3&#038;modestbranding=1&#038;rel=0&#038;autohide=1&#038;playsinline=0&#038;autoplay=0\" title=\"\" width=\"900\"><\/iframe><\/p><\/div>\n<\/p><\/div>\n<p>\t<script type=\"application\/ld+json\">{\"@context\":\"http:\\\/\\\/schema.org\\\/\",\"@id\":\"https:\\\/\\\/www.casino.org\\\/vitalvegas\\\/strip-land-deal-with-mysterious-chilean-mogul-falls-through\\\/#arve-youtube-dvzzlx7fbf0\",\"type\":\"VideoObject\",\"embedURL\":\"https:\\\/\\\/www.youtube-nocookie.com\\\/embed\\\/dVZzLx7fBF0?feature=oembed&iv_load_policy=3&modestbranding=1&rel=0&autohide=1&playsinline=0&autoplay=0\"}<\/script>\n<\/div>\n<p>As if the original Riviera land sale deal wasn&#8217;t fishy enough, the reason for Fischer not fulfilling on his end of the agreement stinks to high heaven.<\/p>\n<p>Google&#8217;s awkward translation of the original <a href=\"https:\/\/sbcnoticias.com\/dreams-suspende-proyecto-las-vegas\" target=\"_blank\" rel=\"noopener noreferrer\">Spanish language news story<\/a> about the failed deal says, &#8220;The economic crisis affecting the United States was a determining factor for the Fischers to see their aspirations to open a casino in Sin City truncated for the third time. Specifically, the rise in the Federal Reserve rate to 4.25% and mortgage rates reaching a maximum of 7.08% in the last two decades were decisive.&#8221;<\/p>\n<p>First up, the U.S. isn&#8217;t having an &#8220;economic crisis.&#8221; Our eggs are expensive at the moment, but that&#8217;s a far cry from a &#8220;crisis.&#8221;<\/p>\n<p>A source at Fischer&#8217;s company said, &#8220;With this [mortgage] rate level, no commercial project can be carried out.&#8221; What is the Spanish word for &#8220;hooey&#8221;? In Las Vegas, Dream Hotel is going up, Durango casino is making speedy progress and Fontainebleau is being finished to the tune of $2.2 billion in fresh financing.<\/p>\n<p>Our opinion is all this translates into: Couldn&#8217;t get the money and no way this guy was going to be approved by the Nevada Gaming Commission. Yeah, we said it.<\/p>\n<p>What do mortgage rates have to do with a project that wasn&#8217;t going to start construction until 2031?<\/p>\n<p>We may never know the real reason this deal fell through, but such misfires aren&#8217;t uncommon in Las Vegas. The technical term is &#8220;all talk, no action.&#8221; Much like our love life.<\/p>\n<p>Here&#8217;s hoping the LVCVA can find another buyer who actually possesses the nuts, as our poker player friends say.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Right up front, &#8220;Chilean Mogul&#8221; sounds delicious, especially with a zesty tartar sauce. That said, what we&#8217;re talking about is something else, entirely. Specifically, a $120 million land deal on The Strip previously announced by the Las Vegas Convention and Visitors Authority (LVCVA) has fallen through. The real world impact? Lanyard company stocks are about [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[23,24,2],"tags":[],"class_list":["post-35365","post","type-post","status-publish","format-standard","hentry","category-vegas","category-las-vegas-casinos","category-lasvegashotels"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Strip Land Deal With Mysterious Chilean Mogul Falls Through | Vital Vegas<\/title>\n<meta name=\"description\" content=\"Right up front, &quot;Chilean Mogul&quot; sounds delicious, especially with a zesty tartar sauce. 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That said, what we're talking about is something else, entirely.","breadcrumb":{"@id":"https:\/\/www.casino.org\/vitalvegas\/strip-land-deal-with-mysterious-chilean-mogul-falls-through\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/vitalvegas\/strip-land-deal-with-mysterious-chilean-mogul-falls-through\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/vitalvegas\/strip-land-deal-with-mysterious-chilean-mogul-falls-through\/#primaryimage","url":"https:\/\/www.casino.org\/vitalvegas\/wp-content\/uploads\/2017\/01\/riviera_demolition_after_010817.jpg","contentUrl":"https:\/\/www.casino.org\/vitalvegas\/wp-content\/uploads\/2017\/01\/riviera_demolition_after_010817.jpg","width":800,"height":533,"caption":"They graded the hell out of this vacant lot."},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/vitalvegas\/strip-land-deal-with-mysterious-chilean-mogul-falls-through\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.casino.org\/vitalvegas\/"},{"@type":"ListItem","position":2,"name":"Las Vegas","item":"https:\/\/www.casino.org\/vitalvegas\/vegas\/"},{"@type":"ListItem","position":3,"name":"Strip Land Deal With Mysterious Chilean Mogul Falls Through"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/vitalvegas\/#website","url":"https:\/\/www.casino.org\/vitalvegas\/","name":"Vital Vegas","description":"Essential Las Vegas News, Tips, Deals and WTF.","publisher":{"@id":"https:\/\/www.casino.org\/vitalvegas\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/vitalvegas\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.casino.org\/vitalvegas\/#organization","name":"Vital Vegas","url":"https:\/\/www.casino.org\/vitalvegas\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/vitalvegas\/#\/schema\/logo\/image\/","url":"https:\/\/www.casino.org\/vitalvegas\/wp-content\/uploads\/2016\/10\/vital_vegas_logo.jpg","contentUrl":"https:\/\/www.casino.org\/vitalvegas\/wp-content\/uploads\/2016\/10\/vital_vegas_logo.jpg","width":800,"height":533,"caption":"Vital Vegas"},"image":{"@id":"https:\/\/www.casino.org\/vitalvegas\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/VitalLasVegas","https:\/\/x.com\/vitalvegas"]},{"@type":"Person","@id":"https:\/\/www.casino.org\/vitalvegas\/#\/schema\/person\/c4d18a46e6ee47e7841b986c288f333e","name":"Scott Roeben","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/vitalvegas\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/vitalvegas\/wp-content\/uploads\/2021\/07\/author-logo-lg-96x96.png","contentUrl":"https:\/\/www.casino.org\/vitalvegas\/wp-content\/uploads\/2021\/07\/author-logo-lg-96x96.png","caption":"Scott Roeben"}}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/vitalvegas\/wp-json\/wp\/v2\/posts\/35365","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.casino.org\/vitalvegas\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/vitalvegas\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/vitalvegas\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/vitalvegas\/wp-json\/wp\/v2\/comments?post=35365"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/vitalvegas\/wp-json\/wp\/v2\/posts\/35365\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/vitalvegas\/wp-json\/wp\/v2\/media?parent=35365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/vitalvegas\/wp-json\/wp\/v2\/categories?post=35365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/vitalvegas\/wp-json\/wp\/v2\/tags?post=35365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}