Israeli plans massive Vegas casino

The Israeli owner of New York’s famed Plaza Hotel intends to build a $5 billion casino in Las Vegas. Yitzhak Tshuva’s Elad group announced Wednesday that it would tear down the New Frontier Hotel & Casino and build a Las Vegas version of the Plaza on the 34.5-acre site, the Jerusalem Post reported. “Though planning is in the early stages, The Plaza in Las Vegas will introduce the classical elegance and grandeur of the storied New York landmark to The Strip,” Elad President Miki Naftali said in the announcement.Elad said the development will feature a “six-diamond” hotel along with private residences, a retail mall, casino, restaurants and convention space. Construction is set to begin next year, with an official opening scheduled for 2011.