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The Honolulu Advertiser
Updated at 12:54 p.m., Wednesday, March 19, 2008

$6B Vegas casino modeled after Plaza in N.Y. gets OK

Associated Press

LAS VEGAS — Clark County commissioners have given final approval to plans for a $6 billion Las Vegas Strip casino resort modeled after The Plaza Hotel in New York.

There was no mention during a brief public presentation by representatives of Elad IDB of reports earlier this week that the project was stalling due to a shaky credit market.

On Monday, Elad chief Miki Naftali said the project was "forging ahead as planned."

Elad also owns The Plaza in New York.

A Las Vegas-based spokesman for the company says groundbreaking could take place later this year on the 3,500-room Las Vegas Strip project.

It's slated to open in 2011.