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$5 Billion Development Slated for Las Vegas

The Elad Group, owners of the Plaza Hotel in New York City, plans to build a The Plaza in Las Vegas, a $5 billion development on the Las Vegas Strip.

The company will demolish the New Frontier Hotel Casino early next year to make way for the 34.5-acre project, which will include a hotel, convention space, residences, retail outlets, and a gaming complex.

The Plaza in Las Vegas will be located across the Strip from the Wynn Las Vegas and is expected to open by 2011.