Caesars set to break ground on $500 million Strip project

By MSNBC Staff Writer

Caesars Entertainment Corp. has raised the stakes in Las Vegas.

The company on Wednesday announced plans for The Linq, a $550 million retail, dining and entertainment project at the heart of the Strip. The highlight will be a giant Ferris-style observation wheel — The Las Vegas High Roller — which at 550 feet will be the tallest in the world.

Caesars Entertainment has tapped L.A. mall developer Caruso Affiliated (The Grove, Americana At Brand) to develop this massive entertainment, dining, hospitality, and retail district on the Las Vegas Strip.

Design and construction of the observation wheel — its 28 cabins will each carry up to 40 people.

Rendering of Caesars "High Roller"

The Las Vegas High Roller goes head-to-head with Skyvue Las Vegas, a competing project that broke ground in May on an 11-acre site across from Mandalay Bay at the southern end of the Strip. The brainchild of local developer Howard Bulloch, the project will include a 476-foot observation wheel, along with a roller coaster and 200,000 square feet of retail, restaurant and entertainment space.
“We expect it to be up and running in time for New Year’s 2012,” Bulloch told msnbc.com.

Rendering of Skyvue Las Vegas

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