An artists rendering provided by Steelman Partners shows plans for the development of a new hotel and casino complex on the site of the stalled Echelon project in Las Vegas. The Genting Group announced the purchase of the nearly 90 acres on the Las Vegas Strip of the Boyd Gaming Corp.'s stalled project. The Asian conglomerate has plans for a phased, multi-billion dollar development that would include 3,500 hotel rooms, a convention center and gambling, dining and retail. (AP Photo/The Rogich Communications Group)
LAS VEGAS (AP) - An Asian conglomerate says it will break ground next year on a long-stalled project that could help revitalize a dilapidated section of the Las Vegas Strip.
The Genting Group announced Monday that it is buying the site where Boyd Gaming Corp.'s partially built Echelon project has gathered dust for four years.
Genting says it will build a multi-billion dollar project called "Resorts World Las Vegas" on the 87-acre site.
The conglomerate says the casino, its first in Las Vegas, will feature 3,500 hotel rooms, a convention center and a 4,000-seat theater.
Echelon is one of a handful of high-profile multibillion-dollar projects that have been stalled out indefinitely on the Las Vegas Strip since the economy crashed.
Copyright 2015 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.