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ilman Fertitta, a Houston billionaire and owner of the NBA's Houston Rockets, once had big plans for a luxury Las Vegas resort. He purchased a 6-acre plot on the Strip in June 2022 for $270 million, secured approvals for a 43-story hotel-casino, and demolished existing buildings to make way for the project.

    However, Fertitta's plans have stalled. Today, his property is home to a parking lot that charges drivers up to $14.99 for three hours of parking. The site has no attendants or ticket machines; instead, drivers scan a QR code to enter their desired parking time and payment method.

    Fertitta's company, Fertitta Entertainment, issued a statement saying all options for the property remain under consideration. This includes building the resort, selling the land, or doing something else with it. The company did not comment on whether construction would begin while Fertitta serves as U.S. ambassador to Italy.

    The project had been approved by Clark County commissioners in October 2022 and was set to include restaurants, a spa, convention space, and a theater. However, Fertitta sought an extension of his project approvals after Las Vegas casino executive Maurice Wooden left the company to join the newly opened Fontainebleau Las Vegas.

    Fertitta's representative cited delays in obtaining necessary permits as the reason for the extension, which was granted until October 2025. Despite these setbacks, New York developer Eli Gindi expressed interest in buying Fertitta's property and believes that if Fertitta wants to build the resort, he will do so.