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Tag Archives: Alon

US – Wynn buys former Alon site

Wynn Resorts announces it has reached an agreement to purchase approximately 38 acres of land on the Las Vegas Strip directly across from Wynn Las Vegas. The purchase includes the 34 acre site of the former New Frontier, formerly the Alon Resort site, as well as 4 additional acres connected to the site for a…

Australia – Crown lessens its stake in Macau and pulls out of Las Vegas

Australian operator Crown Resorts is looking to lessen its exposure to Macau and abandon plans to develop Alon casino in Las Vegas Crown confirmed it will sell part of its share in Macau operator Melco Crown Entertainment following the arrests of 18 Crown employees by Chinese authorities. Crown will sell a stake worth A$1.6bn to…

US – Crown’s Alon on hold due to ‘weakened American debt markets’

James packer’s third attempt to enter the Las Vegas casino market has run into trouble with plans for his Crown Resorts’ Alon project on The Strip on hold because of ‘weakened American debt markets.’ Crown’s plan to secure $1bn in US debt to finance the project has been delayed although Crown is insistent that it…