Israeli investor Asher Gabay is planning to transform a Motel 8 on the south end of the Las Vegas Strip into a 620-room casino and hotel.
Gabay bought the Motel 8 in 2018 and he wants to build on the premises a 34-story building called the Astral. The project is expected to cost between $325-$350 million and be finished in 2022.
The property sits in an underdeveloped and less busy area of the bustling gambling metropolis.
It will be the Israeli investor’s first casino project in Las Vegas, but he does have experience as he owns and operates several resorts in Israel.
Gabay cited America’s strong economy as a reason behind bringing a casino to the area.
Las Vegas casinos owned and operated by smaller companies have not fared well in recent years, but with the arrival of an NFL team, the Las Vegas Raiders, business is expected to be booming in Sin City.
Gabay purchased the motel for $7.4 million, and he is currently leasing it out before his plans are approved.