{"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":"\n

Right up front, “Chilean Mogul” sounds delicious, especially with a zesty tartar sauce.<\/p>\n

That said, what we’re talking about is something else, entirely.<\/p>\n

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

The real world impact? Lanyard company stocks are about to get crushed!<\/p>\n

\"Riviera
Riviera wasn’t exactly paradise, but they sure as hell paved it.<\/figcaption><\/figure>\n

So, some background.<\/p>\n

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

At the time, the mysterious buyer<\/a> was described as a “Bond villain.” Only by us, but that’s one of the reasons we’re special.<\/p>\n

Right out of the gate, the whole thing sounded fishy. We’ll be circling back to this deceptively innocuous idiom in a moment.<\/p>\n

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

The bulk of Fischer’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’ll wait.<\/p>\n

Originally, the deal was supposed to close in June 2022. Not so much.<\/p>\n

Construction of a new resort was supposed to start in 2031. Not so much.<\/p>\n

The LVCVA pulled the plug on the deal, and the land is back up for sale.<\/p>\n

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

All this could’ve been avoided if the Riviera hadn’t been demolished. Which is definitely an opening to share our incredible video chronicling the demolition of the Riviera.<\/p>\n

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