The $ 300 million Mirage fantasy - island hotel and casino will open in conjunction with a 60-foot mountain volcano that will erupt in smoke and flames every five minutes . It is the most stunning example of Las Vegas 's concerted effort to transform itself into a world famous vacation resort for families as well as gamblers . One resort will hold jousting tournaments while another has plans for an on - site amusement park . Caesars Palace is building a $ 100 million shopping complex comparable with Rodeo Drive . Ferocious competition may drive some resorts into bankruptcy or new ownership . MarCor Resorts Inc. Off the Strip, MarCor is building the Rio, a hotel-casino with a Brazilian theme and only 430 rooms -- all of them suites. Another concern is whether the new mega - resorts will be able to make a profit .
The $ 300 million Mirage fantasy - island hotel and casino will open in conjunction with a 60-foot mountain volcano that will erupt in smoke and flames every five minutes . It is the most stunning example of Las Vegas 's concerted effort to transform itself into a world famous vacation resort for families as well as gamblers . One resort will hold jousting tournaments while another has plans for an on - site amusement park . Caesars Palace is building a $ 100 million shopping complex comparable with Rodeo Drive . Ferocious competition may drive some resorts into bankruptcy or new ownership . Another concern is whether the new mega - resorts will be able to make a profit .