The stalled Dream Las Vegas casino project, initially set to offer a boutique-style experience near the Las Vegas Strip, has undergone a significant change in ownership. Developer Bill Shopoff transferred the partially built site’s ownership to McCarthy Building Companies due to unpaid bills amounting to tens of millions of dollars. This transfer follows a legal settlement after McCarthy and several subcontractors filed liens against the property for unpaid construction work.
The project’s history has been fraught with challenges, including funding issues and design changes prompted by security concerns from the TSA and airlines due to the site’s proximity to the airport. These concerns included potential risks from active shooters, illegal drone flying, and bright lights. Additionally, the developers faced a property dispute with the neighboring Pinball Hall of Fame, which was resolved through a settlement.
Despite these obstacles, Shopoff expressed intentions to repurchase the site and complete the project, contingent on securing additional financing. McCarthy, now the site’s owner, remains open to future collaboration with Shopoff if he acquires the necessary funds. As it stands, the construction is about 19 percent complete, with visible remnants of the halted project still on-site. McCarthy has not yet disclosed specific plans for the property but emphasizes its commitment to Las Vegas and the community.
