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Former MGM Mirage Exec Tapped for Plaza Project

LAS VEGAS-Daniel M. Wade is now COO of Plaza Las Vegas, a planned multibillion-dollar casino-resort complex across the Las Vegas Strip from Wynn Las Vegas.

By Brian K. Miller | Updated on August 28, 2007

LAS VEGAS-Casino-resort veteran Daniel M. Wade will direct the development of the multibillion-dollar Plaza Las Vegas project as its chief operating officer. The former MGM Mirage executive and director will work closely with Miki Naftali, president of Elad Group, which owns the land for the project in a joint venture with IDB Group USA Investments Inc.

Plaza Las Vegas will rise on the 34.5-acre site of the shuttered New Frontier, which will be demolished by implosion in the fall. Elad IBD Las Vegas paid $1.24 billion or about $36 million per acre for the property earlier this month.

The project is being loosely modeled after the Plaza Hotel in New York City, which Elad acquired in 2005 for $675 million. Elad is now close to completing a $400-million renovation of the property, which Elad is converting into a mix of condo-hotel rooms, private residences and retail.

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