Posted September 15, 2018 12:16:50Las Vegas has become a real estate Mecca for Donald Trump, and the president-elect’s luxury hotel and condominium project in the Las Vegas Strip could be a disaster if built.
Trump bought the hotel and condo project in March, and he has since promised to keep it open, but he has not lived in the hotel since it closed in January.
The project was intended to be a high-end hotel and golf resort that would have hosted the Miss Universe pageant in 2017, but its closure has been widely blamed on Trump.
“I’m going to have the biggest, most beautiful hotel in the world,” Trump said in a January press conference announcing the project.
“We’re going to build it in the desert.”
The project has yet to receive a design review, and construction could not begin until at least 2020, but Trump could still claim credit for the project’s design if he can prove it was his decision to shut down the project and build it elsewhere.
In a January letter to the Nevada Gaming Commission, Trump acknowledged that he “was not involved in the construction of the hotel or its management” and called the development of the project “one of the greatest projects I have ever had the privilege of running.”
Trump said he was “unable to make the final decision” on the project, but the project is still “a work in progress.”
Trump was supposed to be the first occupant of the Trump International Hotel in Las Vegas, but it closed earlier this year.
The hotel is now owned by Trump’s business, the Trump Organization, which has been criticized for poor oversight, and has been under investigation for possible violations of anti-trust laws.
The Trump Organization also has been fined for allegedly violating anti-discrimination laws.
In an interview with Fox News in February, Trump defended his decision not to invest in the project because he had already spent $2 billion to open the hotel in Las Vegas in 2019.
“The problem is I’m sitting on a lot of money.
It’s like I’m the greatest builder in the history of the world and I’m supposed to build something that’s going to be worth a lot more than what we’re doing,” Trump told Fox News.
“So it was really just a matter of, we’re not going to spend a fortune on this hotel.
We’re going out and we’re going, ‘Let’s build something really special.'”
Trump told The New York Times in February that he did not want the project to fail.
“You know, I don’t want it to fail, because I know how good the hotel is.
It is going to cost us a lot, a lot,” he said.
“But the idea of a $250 million hotel and a $1 billion golf course, I think, is just ridiculous.”