LAS VEGAS (AP) - The owner of The Plaza hotel in New York says
he is buying the New Frontier hotel-casino - and plans to develop
a 5 (B) Billion dollar project on the Las Vegas Strip.
The president of the Elad Group says the New Frontier will be demolished to make way for a luxury hotel, private residence, retail and casino complex bearing The Plaza brand.
He calls the 34-and-a-half acre site across from the Wynn Las Vegas "the last available prime parcel on the Las Vegas Strip."
(Copyright 2007 by The Associated Press. All Rights Reserved.)