LAS VEGAS (CBS) – The FAA has approved plans to build a giant observation wheel on the Las Vegas Strip.

Developer Howard Bulloch of Compass Investments released details of the project Monday to reporters, local lawmakers and business leaders at the site across Las Vegas Boulevard from the Mandalay Bay hotel-casino.  The FAA found that the wheel will not have an adverse impact on air space.

The Skyvue Las Vegas Super Wheel which will be on the southeast corner of Las Vegas Blvd. and Mandalay Bay Dr. is expected to be completed in 18 months. The catch, however, is that the project still lacks financing!  It will require some $175 million dollars to complete.

Meantime, Caesars Entertainment has received a loan to built a similar project as part of their redevelopment of space between The Flamingo and Harrahs, referred to as “Project Linq”.  Approval for their project has yet to come from Clark County commissioners.

Which, if any of these, make it from the drawing board, to the Las Vegas skyline, is anyone’s guess.


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