AP Nevada

Latin casino operator buys Vegas Strip parcel for $120M

Published October 13, 2021 12:34 PM

LAS VEGAS (AP) — A Chilean businessman has reached an agreement to buy 10 acres of Strip-front land from the Las Vegas Convention and Visitors Authority for $120 million. The authority’s board unanimously approved the sale Tuesday of the land that formerly housed the Riviera to CB Investment SpA owned by Claudio Fischer. The deal is expected to close in June. Fischer is the co-founder of the largest casino resort operator in Latin America, with 19 casino properties in Chile, Argentina, Panama, Colombia and Peru. He hasn’t disclosed any specific plans for the development. But the agreement requires a resort or hotel operation be developed on that parcel of land.

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