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Arizonian takes bite of Strip

Oct 30, 2007 3:02 AM

An Arizona businessman who prefers to fly below the radar has bought a hefty piece of the Las Vegas Strip for $47 million, purchasing the former Holy Cow Casino, Cafe and Brewery site, once destined to be an Ivana Trump condo tower.

The two-acre site, on the northeast corner of Las Vegas Boulevard and Sahara Avenue, is situated diagonally across from a multibillion-dollar resort planned by MGM Mirage Inc., Kerzner International Holdings Ltd. and Dubai World. It’s zoned to permit developers to apply for a casino license.

The buyer, Steven Johnson, a 58-year-old businessman who has a residence in the upscale Desert Mountain-Renegade Golf Course community in Scottsdale, told The Associated Press he’s not sure what he intends to do with it.

"I haven’t finalized my plans yet," Johnson said. "I thought it was a good piece of property. At the moment there’s really not much to say."

Johnson has made several big transactions in Las Vegas, and said he’s been buying and selling plots in the city for about 20 years.

Many of them were sites later turned into Walgreens drug stores, including one on the Las Vegas Strip near the MGM Grand hotel-casino and another at the corner of Charleston and Las Vegas boulevards.