The Monte Carlo Resort and Casino, which will celebrate its 19th anniversary on the Strip later this month, is facing a major change at the hands of parent company MGM Resorts. MGM is slated to spend roughly $450 million to convert the resort into two new hotels: the Park MGM and NoMad Las Vegas.
The construction will begin this fall, and the Monte Carlo will not close during the transition. Park MGM will be a new 2,700-room luxury resort, and within it will be the 292-room NoMad Las Vegas, a spin off of the New York City hotel of the same name. The hotel-within-a-hotel framework is common in Vegas. Other large casinos, like the Mandalay Bay Resort, also house a smaller and more luxurious hotel within the main venue.
“Fortunately, Las Vegas is on a roll here and the market’s doing much better, all the properties are doing well and becoming increasingly popular as a destination,” MGM Resorts Chairman and CEO Jim Murren told the Las Vegas Review Journal. “All of us want to continue to build on that whole maxim.”
NoMad will offer its own swimming pool, gaming, and dining experiences, and should feel quite separate from the Park. The most notable of these features will be an outpost of the NoMad restaurant by chef Daniel Humm, whose other venture – Eleven Madison Park – is the only American restaurant to have cracked the top-ten of the “world’s 50 best restaurants.”
The new resort comes as MGM recently unveiled The Park – an outdoor dining and entertainment district that includes a 5,300-seat entertainment venue. Park MGM will have direct access to the new area.
“What this does is bring a new dimension to entertainment in a form of hospitality that does not exist here with a group that has been an expert in doing that in key markets like New York, London and Chicago,” Murren added. “It really rounds out the neighborhood of entertainment that we have created with CityCenter, T-Mobile [Arena] and The Park and the upgrades to New York-New York.”
Construction is expected to begin in the fall of this year and be completed by the end of 2018.
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