26 Jul 2026
Heart-Shaped Casino Resort Gains Approval on Former SkyVue Site in Las Vegas
Clark County commissioners have approved development plans for a 29-story heart-shaped casino resort that will occupy the long-vacant SkyVue Ferris wheel parcel on the south Las Vegas Strip directly across from Mandalay Bay, and this decision marks a significant step forward for the nearly 12-acre property that has remained undeveloped for years.
Developer Eli Applebaum, operating through Kulik River Capital, acquired the site for $70 million earlier this year, and the project encompasses 752 hotel rooms along with convention facilities, a dedicated gaming floor, multiple restaurants, and retail outlets while also incorporating the existing Ferris wheel support pillars into a suspended restaurant structure.
Site History and Acquisition Details
The parcel once hosted ambitious plans for the SkyVue Ferris wheel, a project that ultimately stalled and left behind structural remnants that now form part of the new design, and observers familiar with the south Strip note that this location sits in a high-traffic corridor where several major resorts already operate.
Applebaum's purchase closed during the spring months, and records show the transaction positioned Kulik River Capital to move ahead with rezoning and permitting processes that culminated in the recent commission vote, and county documents outline how the heart-shaped tower will rise to 29 stories while integrating the old pillars as both a visual nod to prior plans and a functional element for dining.
Project Components and Design Features
The approved blueprint calls for a gaming floor that will occupy a central position within the resort, and convention space will provide meeting rooms and exhibition areas designed to attract group business from nearby properties, whereas restaurants and retail components will line lower levels to serve both guests and passersby on the Strip.
Repurposing the Ferris wheel pillars into a suspended restaurant represents one of the more distinctive elements of the proposal, and this approach allows the structure to retain visible ties to its previous iteration while creating a unique dining experience elevated above the main complex, and architects have incorporated the heart shape into the tower's exterior profile to differentiate it from neighboring rectangular high-rises.
Approval Process and Timeline Context
Commissioners reviewed the application during a public hearing where zoning adjustments and traffic impact studies received scrutiny, and the vote cleared the path for further engineering work and construction permitting, and as of July 2026 project teams continue to refine timelines that could see groundbreaking occur within the next 18 months depending on final approvals from additional agencies.
County staff reports highlighted how the development aligns with broader south Strip revitalization efforts, and the inclusion of convention facilities addresses a noted gap in meeting space south of the central Strip corridor, and developers have committed to environmental assessments that address water usage and energy efficiency standards required under current Clark County codes.
Economic and Infrastructure Considerations
Projections attached to the filing estimate that the resort will generate substantial tax revenue once operational, and employment figures during construction phases could reach several hundred workers while permanent staffing is expected to exceed 1,500 positions once the property opens, and these numbers factor into county planning documents that track hospitality growth along the southern portion of Las Vegas Boulevard.
Traffic studies submitted with the application examined access points from Las Vegas Boulevard and adjacent side streets, and mitigation measures include signal upgrades and pedestrian walkway enhancements that will connect the new resort to existing sidewalks and transit stops, and utility coordination with local providers will ensure adequate power and water supply without straining nearby infrastructure serving Mandalay Bay and other adjacent venues.
Developer Background and Next Steps
Kulik River Capital has pursued several hospitality ventures in the region prior to this acquisition, and Applebaum's involvement brings experience from previous casino and resort projects that have navigated similar permitting pathways, and the company has indicated that detailed design refinements will proceed immediately following the commission approval.
Additional permits from the Nevada Gaming Control Board will be required before gaming operations can commence, and those applications typically follow local land-use approvals, and project representatives have stated that interior layouts for the gaming floor and hotel tower will undergo further review during the coming months.
Conclusion
The heart-shaped resort now holds the necessary local approvals to advance from concept to construction on the former SkyVue site, and the integration of existing structural elements alongside new facilities creates a distinctive addition to the south Las Vegas Strip landscape, and continued progress through state-level gaming licensing will determine the final opening schedule.