Perry, who has a long background in the telecommunications industry, had met Bulloch while they served as board members of the Boy Scouts of America. That May, he announced the Skyvue Las Vegas Super Wheel, as it was then called, was “about to get off the ground” and slated to be completed in 2013.

Its wild real estate bubble had burst, unemployment was high, and construction had largely ground to a halt, leaving the valley littered with abandoned, partially built projects.īulloch, however, had big plans for the south edge of the Strip. Las Vegas’ economy was in shambles in the spring of 2011. Perry, head of Shotgun Creek Investments, did not respond to requests for comment Friday.īulloch and partner David Gaffin, operators of Compass Investments, did not respond to a request for comment. But he was cleared to take over after pumping tens of millions of dollars’ worth of loans, investments and loan purchases into SkyVue, with a chunk of that money coming after construction had stopped, court records show. It’s unclear what Perry will do with the property, especially now that the coronavirus pandemic has devastated Las Vegas’ tourism-dependent economy. But the project stalled and has collected dust for years, consisting of little more than two giant concrete columns sticking out of the ground. Bankruptcy Judge Gary Spraker approved plans July 27 for Perry, a minority partner in the Seattle Mariners baseball team, to acquire the SkyVue site and nearby parcels with a $75 million credit bid, giving him nearly 20 acres along the south Strip, court records show.ĭeveloper Howard Bulloch envisioned SkyVue as a $100 million-plus project with a 500-foot-tall observation wheel, a roller coaster and retail and restaurant space.

Several years later, SkyVue remains an unfinished eyesore across from Mandalay Bay - and Perry is taking ownership. “Perception is a precarious thing and SkyVue is in danger of falling to where it would never be able to recover,” he wrote.

The project, SkyVue, was in a “desperate” financial situation, and Perry believed the developers “seem to suffer from the ‘best possible outcome’ syndrome,” he said in an email enclosed in court filings. In the fall of 2012, after Wayne Perry sunk a fortune into a stalled Ferris wheel project on the Strip, he had a harsh message for the developers. Construction begins as the foundation is poured for the SkyVue observation wheel on the Strip across from Mandalay Bay in Las Vegas, on Thursday, March 1, 2012.

Worlds largest unfinished casino lv