When casino giant Genting Group bought a mothballed project site on the north Strip a decade ago, it sparked hopes for a sleepy section of Las Vegas Boulevard.
It also marked a steep plunge in property values for the famed casino corridor.
On March 4, 2013, Boyd Gaming Corp. announced that it sold the partially-built Echelon resort property for $350 million in cash to Malaysia-based Genting. The sale amounted to roughly $4 million per acre, and by that measure, it was a bargain compared to what buyers paid years earlier, before the economy crashed, for land on the Strip.
