Alon Resort Prospects Falter as Project is Pushed Back Another Six Months

The struggle is real at Alon. Those involved with the ambitious resort have been informed the project has been pushed back yet another six months because financing has failed to materialize.

Once slated to open in 2018, some now question whether Alon (pronounced AY-lon) will happen at all, despite it being backed by Australian billionaire James Packer. Packer’s plan to raise funds for the project by lowering his stake in the company haven’t come to fruition.

The cost of Alon is expected to be between $1.6 billion and $1.9 billion.

Alon Las Vegas

It might have been wiser to write that “2018” on a dry erase board.

Alon’s future is tenuous at best, seemingly contingent upon nebulous “improvements in the Malaysian markets.”

Alon’s inability to find financing first surfaced in December 2015, as investor interest in Alon was described as “diminishing.” Then, in March 2016, the project was put on hold “due to weakened American debt markets,” whatever those might actually be.

Beyond the financing challenges for the 1,100-room Alon, the project is now likely to face another—high-profile and very expensive executives jumping ship.

Alon Las Vegas

The immersive, game-changing Alon lot.

Alon has recruited a powerhouse team of operations and nightlife executives, but rumblings are a couple of key players will quietly depart the project as reality sinks in that Alon is years away, and that’s the optimistic scenario.

Alon’s executives include former Wynn Resorts executive Andrew Pascal, former SLS president Rob Oseland, Danielle Babilino (former Senior Vice President of Hotel Sales at Wynn Las Vegas) and Las Vegas nightlife “czar” Jesse Waits.

So far, the Alon team has been a united front, but movers-and-shakers of this caliber require movement to stay engaged. And shakement. If that’s a thing. Some of the key parties in the Alon project have been involved since mid-2014. That feels like a long time, but probably isn’t in Las Vegas resort years.

How Alon continues to afford the hefty salaries of its dream team remains a mystery.

For his part, James Packer and his Crown Resorts, can’t catch a break in Las Vegas. The company lost $250 million when its roughly 20 percent stake in the failed Fontainebleau “evaporated” in a chapter 11 bankruptcy.

Alon Las Vegas

Let’s get on with having less service, already!

Still, many of those involved with Alon remain undeterred and downright optimistic. Us, too, actually.

Alon resort is supposed to have a 26-story tower and a 17-story VIP tower, more than 27,000 square feet of casino space, a man-made lake, as well as what are likely to be some intriguing bar, restaurant and retail offerings. And possibly a game-changing nightclub.

Alon would also breathe some much-needed life into the north end of the Las Vegas Strip, where the plug’s been pulled on the partially-completed Lucky Dragon and the future is in doubt for another announced resort, the $4 billion Resorts World.

If built, Alon Las Vegas will sit on the former New Frontier site, across from Wynn Las Vegas.

Let’s go, Malaysian markets! We want us some Alon.

27 thoughts on “Alon Resort Prospects Falter as Project is Pushed Back Another Six Months

  1. Todd Sterling

    It’s seems that end of the strip is doomed, SLS is struggling, circus circus is a dump, I stayed at Stratosphere once, never again. I’m betting that SLS will go under if they don’t get something at that end of the strip going and going soon. SLS needed that monorail to dump people off right in the hotel, that would have been a plus. Last time I took a friend to the Stratosphere we walk right on by SLS didn’t even walk in, still have yet to go in the place. Never know maybe in August. If Alon ever gets off the ground at least it will get some foot traffic thanks to Wynn/Encore

    Reply
    1. Scott Roeben

      It’s a challenging stretch of The Strip, all right. SLS is a great resort, as is the Strat. But a new place would certainly perk things up. Lucky Dragon probably wouldn’t move the needle, but the others would.

      Reply
      1. Wolfdog

        I’ve stayed at the SLS twice. I liked it, but found myself venturing elsewhere during the day.
        The Strat has nothing for me, except the top of the tower.

        Reply
  2. NHBill603

    You are consistently out in front of reporters who’s full time beat is the local casino industry.
    Bravo.

    Reply
    1. Scott Roeben

      Thanks so much for the kind words! Appreciate your taking the time to say something positive. It makes me feel appreciated, although my mom does a pretty good job of that, too.

      Reply
  3. Jonesy55

    When I first saw the renderings for these three stalled (likely stopped) resorts, I thought “not a chance”. Looks like the era of resort financing in Vegas has come to an end. Maybe the city has all the resort/casinos it can handle. It’s a shame that we will be stuck with three more eyesores to look at. Just my two cents as a frequent visitor.

    Reply
  4. William Wingo

    Looks like the executives took the money and ran.
    I never took it seriously. Even if they did build it, I’m sure it would have resort fees, parking fees, franchise fees, 6-5 Blackjack, 8-5 JOB, and all the other modern conveniences.
    Haven’t stayed on the strip, North or South, in many years. Good Riddance.

    Reply
  5. Todd Sterling

    One more thing they tore down the stardust for nothing! Not the best hotel casino but it was more than a giant pile of dirt. Resort world isn’t looking to hot either. Shame shame shame

    Reply
      1. David W Macchia

        If there was ever a master plan for Vegas it’s tucked away in
        Jimmy Hoffa’s coat pocket. To many investors not looking at the whole picture. Nothing new. Still sad.

        Reply
  6. Mako10

    Wynn should buy that place and build something there instead of that waterworld that he’s planning on the golf course.

    Reply
  7. Bouldersteve

    Never thought this plan was going to happen. Packer is a lot of talk no action. Scott any update on the Resorts World project..that one I thought would come thru but still nothing.

    Reply

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