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Adelson's Expansion Plans Detailed

30 March 2004

Las Vegas Sun

LAS VEGAS -- Venetian owner Sheldon Adelson's long-planned second megaresort on the Las Vegas Strip will have 53 stories and will top Steve Wynn's Wynn Las Vegas hotel-casino across the street by 105 feet, according to an architectural draft of the project submitted to Clark County planners.

Venetian spokesman Ron Reese declined to comment on the project Monday until the company submitted final design plans.

County officials said the planning commission was scheduled to vote April 8 on The Palazzo, but the hearing was delayed.

"The Venetian people are still working on their revised parking plan," Gregory Borgel, a planning consultant on the project, told the Associated Press.

Wynn had earlier criticized Adelson for submitting plans to the county that Wynn said didn't include enough parking space. Venetian officials have declined comment on that criticism.

Deutsche Bank analyst Marc Falcone said the rivalry between Adelson and Wynn -- who also will compete in Macau -- is good for Las Vegas.

"Clearly the competitive nature of those two developers results in a constant evolution of better product for Las Vegas," Falcone told the Associated Press. "Those guys are going to piggy back off of each other's success."

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