Fischer hopes to bid again in the future once conditions are financially favorable if the space is still available. On Thursday, December 29, Fischer informed the executives of the LVCVA that he would not complete the purchase of the land in Las Vegas due to the fact that the high cost of debt makes the project non-viable at present time. Fischer is co-founder of Sun Dreams, the largest casino resort operator in Latin America, with 19 properties in Chile, Argentina, Panama, Colombia, and Peru. On Tuesday, Las Vegas Convention and Visitors Authority ( LVCVA) CEO Steve Hill said the tourism agency’s sale of 10 acres at the corner of the Strip and Elvis Presley Boulevard to the firm did not close on December 15.ĬB Investment is controlled by South American businessman Claudio Fischer, whose portfolio includes casinos, residential properties, and commercial real estate primarily in South America. CB Investment, a company founded by Chilean businessman Claudio Fischer that was planning to develop a hotel-casino on the Strip near the Las Vegas Convention Center’s West Hall, has pulled out of the $120 million deal.
