Rolling Stone Goes Vegas?

The Hard Rock Hotel & Casino in Las Vegas is expected to have some rock ‘n’ roll competition if Rolling Stone rolls into town.

The magazine’s founder, Jann Wenner, is negotiating with Vegas real estate developers to build an estimated $500 million resort called The Rolling Stone Hotel & Casino, according to the New York Observer. The property will include a music venue and is tentatively scheduled for completion in 2008. A source familiar with the plan told the paper the venue would compete for high-profile concerts, many of which play at The Joint, which is inside the Hard Rock.

“It will be acoustically perfect,” the source said. “Instead of people in the twilight of their career, in theory they’ll book everyone from Kanye West to U2. This won’t be some place you’ll get $15 stadium seating. This is about big money and big acts.”

The resort is expected to be built on the site of Alexis Park Hotel, across the street from the Hard Rock and near the new Planet Hollywood Resort & Casino, which is expected to open later this year. George Clooney is planning a $3 billion development in the area as well, the Observer said.