Property Description:
The Greek Isles Hotel & Casino in Las Vegas- prime redevelopment land in the heart of the resort corridor. The property is approximately 6.08 acres and is strategically situated on the south side of Convention Center Drive midway between The Strip to the west and Paradise Road to the east. The site is within walking distance of the Las Vegas Convention Center, one of the largest
convention facilities in the world, and offers unobstructed panoramic views of the famed Las Vegas Strip.
The subject site is zoned H-1 (Limited Resort and Apartment) and lies within the MUD-1 Overlay District- allowing for the highest development density permissible. The property resides in the Gaming Enterprise District (GED) and
currently has an operating casino on the site with a non-restricted slot gaming license in place. The Greek Isles Hotel & Casino consists of 202 hotel rooms, a slot casino, bar, restaurant, wedding chapel, two theatres, a banquet facility, an exercise room, pool and parking garage. This property offers an investor the opportunity to purchase a prime redevelopment site in the heart of the Las Vegas. No cooperating fee.

Location Description:
The site is surrounded by over $20 billion of planned and new development. The block directly east and adjacent to the site is owned by Marriott International with plans for a 3,500 room casino resort with 500,000 square feet of meeting space, tentatively scheduled to open in 2011. Diagonally across the street on Desert Inn Rd. is Steve Wynn' s $2.1 billion Encore hotel/casino resort consisting of over 2,000 suites and scheduled to open in late 2008. Directly west and one-half block down Convention Center Dr. on Las Vegas Blvd. is Boyd Gaming Corporation' s $5 billion Echelon Place development, a 5,000 unit resort project that is currently under construction and scheduled to open in 2010. On the northwest corner of Desert Inn Road and Las Vegas Blvd., directly south of Echelon Place, is Elad' s $5 billion Plaza development, located on the former Frontier site and slated to open in 2012. Finally, the Las Vegas Convention Center has plans to add 80,000 square feet of meeting space, to construct a new grand lobby and to completely renovate its existing facility. The renovation is scheduled to commence in late 2008 and
to be finalized in 2011.