The new Plaza Las Vegas center will be constructed on the 34.5 acre site of the shuttered New Frontier, which will be demolished by implosion in the fall. The location is considered one of the best on the Strip, directly across from the Wynn Las Vegas. 

�We will be introducing the iconic Plaza brand and its storied elegance and grandeur to the highest end of the dynamic Las Vegas market,� Mr. Naftali said. 

Mr. Wade said, �It is as though my 36-year career, from bellman to chief executive, has been in preparation for this challenging and sensational opportunity of a lifetime.� 

Mr. Wade has lead management teams through the conceptual, design, developmental and operational phases of top-earning hotels and gaming resorts world-wide. He is one of few executives to hold key licenses in Nevada, Australia, China, Atlantic City and Detroit simultaneously. 

The multi-billion dollar Plaza Las Vegas, a joint venture of Elad Group and IDB Group USA Investments, Inc. is slated to open in 2011. 

Elad Group 
Elad Group is a private, U.S.-owned and operated commercial real estate development firm with properties throughout America and Canada. Positioned for rapid growth, Elad has become one of the largest active developers of luxury properties in North America with offices in NY, Florida, LA, Toronto and Montreal. 

IDB Group USA Investments, Inc. 
IDB Group USA Investments,, Inc., is a subsidiary of IDB Development Corporation, Ltd., the largest investment company in Israel. Its multiple interests include the ownership and development of commercial and residential properties in the United States, Europe, Asia and Israel. 

Richard Edmonds, 212-575-4545
[email protected]